Clustering Balkan Countries Based on Competitiveness Factors: A Strategic Perspective

Abstract

Prior to directing their investments, strategy makers at national and firm level need to know competitive advantages and disadvantages in a country or region. By bearing this need in mind, this study aims to examine competitive factors in Balkan countries to develop a road map for investors. To do this, we used World Economic Forum’s “Global Competitivenes Index” to analyse the case of Balkan countries as a region to cluster and compare them based on Global competitiveness factors. Analysis results pointed out that Balkan countries were clustered in two groups and scored lower or medium level on almost all competitive factors as the region. Based on these findings, authors suggested various strategic recommendations at micro and macro level. Keywords: Cluster, Competitiveness, Strategic Management, Balkan Countries