Tuesday, January 28, 2014
Clusters of Similarity-4
If you see around you and around the world, you will see lots of clusters where you will find similar things in one place that you don’t need to venture further. The wall street area in New York, Hollywood in California, Silicon Valley in California, the financial district in London, the textile industry in Bangladesh, and lots of other places where you will find talent moving into that area since it is easy to find and change jobs and the industry can innovate faster with all the technology nearby. There was a study not too long ago which stated that innovation is faster if you have the technology and the skilled workers nearby since you don’t have to look for them in other places and waste your time and thus advance more as far as the employees are concerned. I believe it is the same thing as I have mentioned above some of the examples of clusters of similarity in industry. These and other clusters of similarity foster in individuals a safety and familiarity pattern for newly arrived immigrants who are strangers in a foreign land and in industries where they can easily reach out to skilled employees not too far from their work areas. As you know the biggest immigrant cluster in the world is of the Chinese and in almost all the advanced and not so advanced countries, you will always find Chinatown and sometimes it is the favorite place of the tourists to visit since they have so much to offer. As long as people migrate to different countries and industries try to consolidate in a certain geographic area, you will always find these clusters of similarity.