Efficiency assessment and research of the internal risks in the innovation-active industrial cluster

One of the main tasks implied in the idea of a cluster is to foster the innovation and knowledge exchange, thereby encouraging the economic growth, which benefits both - a State and an enterprise. The innovation-active industrial cluster is the subject of the research presented in this paper. The scope of the research is concentrated on the efficiency of the innovation-active industrial cluster. The study aims to evaluate the efficiency of the innovation-active industrial cluster and to examine the implied internal risks. This paper provides the results of the efficiency assessment of the innovation-active industrial cluster that was carried out using the indicators of financial and economic activity within the cluster. The paper also presents the analysis of the internal risks in the innovation-active industrial cluster. When performing the internal risk analysis, we used the indicators of the growth rate of revenue and profit before tax and compared their values with the indicators of the member enterprises in the cluster. The research concludes that while the work in the innovation-active industrial cluster is more efficient, it is still far more unpredictable and risky than the work of enterprises that do not make part of the cluster, though those enterprises may function in the same field. The results of the cluster enterprises analyzed throughout the research are diverse and highly unstable. In this regard, the growing number of the member enterprises will ensure greater levels of stability and reduced internal risks for the innovation-active industrial cluster. The analysis of the assets productivity allowed concluding that the profitability of the innovation-active industrial cluster is mainly generated not by tangible, but by the intangible assets. Consequently, this statement highlights the value of the intellectual assets that are created due to the synergetic effect brought in by the cooperation between the members.