LUSTER DEVELOPMENT AS A MECHANISM FOR THE FORMATION OF NEW BUSINESS INITIATIVES IN CORPORATE ENTREPRENEURSHIP

Introduction. Deepening globalization processes, dynamic changes in the global economy, and the need for business to adapt to new market challenges make it important to study the peculiarities of cluster development based on corporate entrepreneurship. Cluster development as a basis for the formation of new business initiatives in corporate entrepreneurship creates a basis for synergy between industrial enterprises, research institutions and government institutions, which contributes to increased competitiveness, resource optimization, innovation in technology and management, and overall productivity. Purpose. The main purpose of the study is to substantiate the need to stimulate the cluster development of machine-building enterprises in order to form new business initiatives in corporate entrepreneurship in the context of global challenges and economic uncertainty of the external environment. It is difficult to overestimate the importance of the research topic, since clusters as a system create opportunities for industrial enterprises not only to exist in the face of economic instability, the development of digital technologies and increased international competition, but also to adapt to these challenges, increasing the competitiveness of industry and ensuring its sustainable development. Materials and methods. To achieve this goal, the following methods were used: methods of analysis, formalization and synthesis for theoretical generalizations on understanding corporate entrepreneurship and forming an algorithm for corporate entrepreneurship in the cluster development system, and the method of logical generalization of results in the context of formulating conclusions to the paper. The theoretical basis is the work of domestic and foreign scholars. Results. As a result of the study, the features of the algorithm for the formation of corporate entrepreneurship between machine-building enterprises in the system of cluster development have been revealed. A model of cluster development of machine-building enterprises has been proposed that will facilitate the formation of new business initiatives in corporate entrepreneurship. Discussion. In further research, it is proposed to focus on the peculiarities of forming an organizational and economic mechanism for ensuring the cluster development of corporate entrepreneurship to substantiate the implementation of the necessary management actions aimed at the quality organization of interaction between cluster entities in order to achieve sustainable economic development in the face of global challenges, taking into account the prerequisites, principles of development and factors of the internal and external environment.