Creating and Managing International Joint Ventures

By Arch G. Woodside; Robert E. Pitts | Go to book overview

1 Toward a Behavioral Theory of International Joint Venture Strategies

Arch G. Woodside

Robert E. Pitts

An international joint venture is a distinct enterprise, or multi-organizational agreement, created as an alliance between two or more parent organizations working across country borders in designing-managing the venture. The central reason for this book is to provide managers and executives with knowledge and insight useful for creating and implementing better international joint venture (IJV) strategies. With this focus on creating-implementing better IJV strategies, the central proposition of this chapter is that the study of real-life, planned, and implemented IJV strategies is necessary. The point made by Fleck ( 1973) and Peter ( 1981) should be heeded: in order for participants in a decision to make better decisions, they need to know how current decisions are made. How do managers involved in creating IJVs actually think about the problem? What information do they actually use? What rules do they use in making choices? To gain knowledge and provide insights about IJVs, we need to examine the thinking and doing processes through time of decisionmakers involved in working together in creating and running IJVs.

In real-life, designing and implementing an IJV usually takes six months to three years. In some countries, the legal creation of an IJV generally does not result in implementation--no products-services are created, no customers are served, and no sales are made. The IJV never gets off the ground; for several reasons, the creation-implementation process breaks down. Often the prime reason for such breakdowns is the poor fit in working out the operating details when attempting to convert the early shared vision between the two principal parties.

Why do only some designed IJVs ever get implemented? Are most implemented IJVs successful? What decisions and actions are associated with successful versus unsuccessful IJVs? What are the key success factors (KSFs) associated with IJVs? The answers to these questions are the focus of this book.

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