Facilitating Large Scale Collaborative Ventures (LSCV) in the era of Globalisation and the New Economy: The Application of Strategic Marketing Proceess to Address Social Considerations in a Complex Joint Venture Project
In the era of globalisation and the new economy, countries endeavour to grow their economy beyond established commodity and manufacture-based industries. One trend has been to undertake large-scale projects requiring high capital, high intellectual and advanced technological input. Examples include major infrastructure works, new industry facilities, new technological products especially for communication and transportation, technological and scientific research leading to new product application, iconic cultural and sporting facilities and events, education and research institutions, and new forms of residential, leisure and resort facilities. In many instances, these projects require collaboration and participation from governments and business in the host country and sometimes from foreign countries. This globalisation aspect of the new economy extends across national economies and involves new collaborative arrangements — not just between firms but also between firms and government and between governments. Such trends require new perspectives and new approaches, not only with regard to business and industry, but also in public policy and management structures. Consequently, policy makers are in need of more relevant conceptual models to effectively respond to the requirements of the new economy. The study undertaken to support this proposal investigated the characteristics of a large-scale project involving collaboration between government and private sector, and also sought to determine the key elements of management evident in corporate practice that may provide a guide for the management of such ventures.
Keywords: New Economy, Industry Development, Collaborative Venture, Multifunction Polis, Strategic Marketing
Dr. Maxwell James Briggs
Professor / Lecturer, Faculty of Business