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ARE SMALL-FIRM CLUSTERS EMERGENT PHENOMENA? EVIDENCE FROM ZIMBABWE’S SMALL FURNITURE- MANUFACTURING FIRMS

Ecoforum Journal

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Title ARE SMALL-FIRM CLUSTERS EMERGENT PHENOMENA? EVIDENCE FROM ZIMBABWE’S SMALL FURNITURE- MANUFACTURING FIRMS
 
Creator MUPONDA, Godfrey; University of Zimbabwe
CHANETA, Isaac; UNIVERSITY OF ZIMBABWE
 
Subject Key Words: Cluster, Emergence, Symmetry breaking, Total Assets Turnover, Return on Capital Employed
 
Description The purpose of this study was to explore the reasons behind the rapid growth and apparent dynamism of Zimbabwe’s small-firm industrial clusters. The hypothesis behind the study was that these small-firm clusters are emergent phenomena. The study analysed the capital utilisation techniques of small firms located in a large industrial cluster in order to determine the factors that lead to the collective efficiency of such firms. The study found that, in comparison with large, stock exchange-listed firms, the cluster environment enables the small firm to operate from a relatively small capital base and also to use its capital more efficiently in creating revenues and profits. The individual firm does not have to invest its capital in a large assets base as this is done by a specialised group of firms within the cluster. Thus, the cluster has the characteristics of an emergent phenomenon.
 
Publisher Association of Educational and Cultural Cooperation Suceava from Stefan cel Mare Universit
 
Date 2014-07-31
 
Type Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.ecoforumjournal.ro/index.php/eco/article/view/69
 
Source Ecoforum Journal; Vol 3, No 2 (2014); 6
 
Language en
 
Relation http://www.ecoforumjournal.ro/index.php/eco/article/download/69/180
http://www.ecoforumjournal.ro/index.php/eco/article/download/69/248
 
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