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The Nature of ValueHow to Invest in the Adaptive Economy$
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Nick Gogerty

Print publication date: 2014

Print ISBN-13: 9780231162449

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231162449.001.0001

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Birth and Growth of Clusters

Birth and Growth of Clusters

(p.101) Chapter Seven Birth and Growth of Clusters
The Nature of Value

Nick Gogerty

Columbia University Press

This chapter discusses clusters, which are the competitive spaces in which firms fight for survival. Clusters are shaped and defined by customers. During the growth phase of a fast cluster, winning and losing firms are difficult—if not impossible—to predict. Competitive pressure forces firms to continually adapt new advantageous capabilities, and keeps excess value flowing to the consumer. Cluster life cycles can be measured and tracked using product and service adaptive cycle times. For most allocators, the birth and early stages of a cluster are too risky or priced too high (yield too low) to make sense for allocation. Clusters with slower life cycles can be easier to allocate to than those with very quick life cycles.

Keywords:   clusters, competition, economic process, capital allocation, investment, adaptive cycle

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