Developing an Industry and Innovation Cluster Strategy Through the Parallel and Sequential Real Options Method

Abstract

Subject. This article considers the issues of formation of an innovation and industrial cluster's strategy through the parallel and sequential real options method. Objectives. The article aims to develop an innovation and industrial cluster's strategy formation methodology using parallel and sequential real options. Methods. For the study, we used the compound real options technique. Results. The article presents an original methodology for developing an innovation and industrial cluster's development strategy, taking into account the assessment of the priorities of the cluster itself and the region where it is located. The process of forming a strategy for the development of a pilot cluster of the electric power industry in the Nizhny Novgorod Oblast, represented by PAO TNS Energo NN, is considered as a case study of the implementation of the presented methodology. Conclusions and Relevance. The presented methodology will help further realize the innovative potential available in the region. The results obtained can be useful to public authorities when planning the development of industrial and innovation clusters and the harmonious development of the country's regions.