An Examination of the Core Dimensions
Chapter 1 identified five special issues in the analysis and operation of IJVs. This book has been a sustained attempt to shed light on these key issues. They are: motivation, partner selection, management, control and performance. In addition, our research suggests that learning and cultural differences are also crucial elements in the operation and performance of IJVs. Interrelations between these variables are also of great importance and will be highlighted in this final chapter. The conclusion encapsulates our findings on these issues in the order of the chapters of the book. Our results, and our contribution to knowledge, must be taken within the specific circumstances of our empirical investigation. The sample was drawn from UK international equity joint ventures with Continental European partners in manufacturing industries (or industries closely related to manufacturing) formed between 1990 and 1996 (see Appendix 1). All generalizations must be tempered by reference to these specific circumstances. The sample of 20 IJVs had the virtue that all three elements of the IJV (the UK parent, the Continental European parent and the IJV management) were interviewed, providing triangulation of all findings. We can be confident of the robust nature of our results within this sample. STRATEGIC MOTIVES The firms in our sample exhibited a mix of motives including both market entry and other motives, of which meeting competition, reducing costs and sharing complementary assets were the most important. Motivation is important in performance measurement, because the true test of the success of any business venture is how...
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