Strategic Research Partnerships: A Managerial Perspective

• Published in: Technology analysis & strategic management Vol. 15; no. 2; pp. 255 - 271
• Main Authors: Hemphill, Thomas, Vonortas, Nicholas
• Format: Journal Article
• Language: English
• Published: Abingdon Taylor & Francis Group 01-06-2003; Taylor & Francis Ltd
• Subjects: Alliances; Collaboration; Economic incentives; Economic theory; Incentives; Organization theory; Partnering; Private sector; R&D; Research & development; Strategic management; Studies; Transaction costs
• ISSN: 0953-7325; 1465-3990
• DOI: 10.1080/0953732032000051145

Private sector incentives to participate in research partnerships can be grouped roughly into two categories: cost-economizing incentives and strategic incentives. This paper summarizes the argument in two streams of thought that are often identified with these two sides: the transaction-cost/incomplete contracts approach and the strategic management approach. The paper recounts business motives to engage in research partnerships in each and points out that differentiating between more traditional economic perspectives (transaction costs, incomplete contracts) and strategic management/organizational theory perspectives (strategic networks, resource-dependent view, dynamic capabilities, knowledge-based view, organizational learning, options approach) may not be as sharp as one might suppose at first. The complementary nature of these perspectives should be encouraging for theoreticians looking for a more integrated model of collaboration.