Successful joint venture partnerships: public‐private partnerships

Abstract

PurposeSeeks to examine important characteristics that go hand‐in‐hand with successful public‐private partnerships.Design/methodology/approachA grounded theory approach is adopted involving interviews and group discussions with executives of the organisations involved. The rationale behind the reduction of the data collected was based on the commonalty of the words, themes and concepts being produced by the respondents through the written and oral research data.FindingsA descriptive model is presented which identifies five key characteristics: good communication, openness, effective planning, ethos and direction. It is argued that all contribute to the success of a joint venture.Research limitations/implicationsFurther research might examine other examples of public‐private partnerships since the research reported here comprises only a single case study – the major limitation of this research. While utilising the findings of this research may improve the chances of a successful venture, they cannot of their own accord guarantee success since other factors are at play.Originality/valueThe paper presents a valuable insight for both academics and practitioners who are keen to appreciate executives' concerns that can arise in evolving a joint venture between a public and a private sector organisation.