Industrial Succession Groups: Driving Industrial Development And Economic Growth
Industrial Succession Group (ISG) refers to the interconnected network of economic entities within a specific sector that drive industrial development. It encompasses the economic sector, industrial clusters, regional economy, R&D laboratories, supply chains, and value chains. ISGs foster innovation, specialization, and economic growth through collaborative relationships between these components. The hub, spoke, and core model highlights the central core of the ISG, with hubs and spokes representing interconnected sub-sectors. The periphery supports the core by providing resources and services. The dynamics between these elements shape the evolution and success of ISGs.