How to apply sustainable competitive advantage for regional developments (Case: Ostrobothnia region of Finland)

Abstract

Nowadays companies concern more about how to survive and extend their own business in future in their current marketplace. However, developing and prospering a region of the country is becoming more crucial question. Successful cooperation and partnership between different sectors of economy (for instance, between companies, public and academic sectors) leads to the flourishing and prosperity of the region and consequently of a country. European Commission established smart specialization platform, which is a strategic approach to economic development of a region. By defining and developing of vision, competitive advantages and strategic preferences, region will determine knowledge-based potential. The purpose of this paper is to assign and define the collaboration/relations existed, how strong these relations are and what the expectations are between 3 sectors of economy: public, academic and business. Area of carrying out this research is Ostrobothnia region, however, connections in other regions of Finland and internationally is also presented. There have been chosen 3industrial peaks from Ostrobothnia region: Energy, Fur and Boat industrial peaks. Analysis is conducted by implementing two core methods: Sense & Respond (S&R) and Sustainable Competitive Advantage (SCA). The goal of this research is also to use S&R method so as to allocate efficiently resources, and to define competitive priorities in cooperation. The main results show that the most tight collaboration and partnership is observed between companies and companies in all around Finland and internationally. While concerning other relationships, companies expect to have tighter cooperation especially in Ostrobothnia and other regions of Finland.