Financial and economic aspects of strategic management of industrial cluster

Purpose: the main purpose of the publication is to examine comprehensively the financial and economic aspects of the strategic management of the industrial cluster by the example of the clusters of the Corporation “Rostec” with the participation of enterprises of the defense industry complex. Methods: the methodology of the research is based on the collection and analysis of initial data and information, the article uses a systematic approach to the study of socio-economic processes and phenomena. The research is based on modern theory of competition, innovation, as well as the modern paradigm of cluster development of the economy. In preparing the study, practical materials from Corporation “Rostec”. Results: the article gives the notion of industrial cluster, outlines the the prospects for using the cluster approach in the implementation of import substitution programs. Industrial clusters are considered as a source of preservation of a unique engineering culture, the revival of the engineering class. The creation of clusters is very promising in the defense industry complex, where clusters are identified as the most important source of diversification of the complex. Separate financial and economic aspects of strategic management industrial cluster are discussed in more detail on the example of cluster initiatives of Corporation “Rosteс”. It is noted that for the development of “Rostec” industrial clusters, it is planned to form centers of key competencies by creating conditions for the development of highly effective cooperative and synergetic relationships among the cluster participants. Formed clusters will be able to demonstrate higher rates of economic growth. In addition, focused funding will allow more efficient distribution of federal budget funds, as well as investor funds, aimed at technological development of cluster participants. To achieve these goals, it was recommended to ensure proper selection of key financial and economic aspects of cluster operation. Conclusions and Relevance: the article draws a general conclusion that among the reasons for the failure of industrial cluster initiatives, an inappropriate choice is made of the forms and sources of functioning, the wrong choice of such financial and economic aspects of strategic management as organizational and legal form, organizational structure, the way of organization of joint stock relations, dividend policy of the cluster, etc. The search for effective solutions in terms of the financial and economic aspects of the strategic management of the industrial cluster is largely related to providing continuous and, to the extent possible, a full-fledged (up to 100% of the needs of the cluster) financing from private capital. For this purpose, among other things, the legal and organizational-economic aspects of the relationship between the cluster members and its founders should be thoroughly worked out. To do this, it is recommended to determine the distribution of the burden of financing the cluster, the responsibilities in this area, clarify the system of financial management of the cluster, determine the financial guarantees of participants, including the distribution of financial results (dividends). Given the proper choice of ways to organize joint stock, financial and dividend relations, the concept of cluster-type cluster developed by “Roctec” corporation can ensure the effective and successful strategic development of industrial clusters.

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