HYPERION ECONOMIC JOURNAL

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• Ivana Kostadinović, Affiliation: Faculty of Economics, University of Niš, Niš, Serbia;
• Ivana Ilić, Affiliation: Faculty of Economics, University of Niš, Niš, Serbia;
• Zorana Kostić, Faculty of Economics, University of Niš, Niš, Serbia.

Clusters represent the economic base, which promotes regional development. The formation of cluster organizations is the result of real needs for the satisfaction of economic interest of theirmembers.The purpose of this paper is to promote positive changes that result from the action of clusters. By studying the specifics of the process of connecting businesses, functioning, and development of clusters, we will set guidelines for improving the business efficiency of business entities. Undertaking the measures and actions to improve business efficiency can stimulate balanced regional development. The achieved results of the joint operations of agricultural entities may be of use to regional development policy-makers, cluster management, and cluster members, but also those businesses that are in a dilemma whether to operate independently or within clusters in order to improve their position on the market.

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