Globalization, university transformation and economic regeneration

Pressures from globalization and the knowledge‐based economy are transforming the traditional role of universities. Universities are being targeted by policy makers because they are the largest “knowledge‐based” institutions in the regions. They have concluded that universities will aid economic regeneration if they disseminate their knowledge and expertise through industry linked partnerships. The paper argues that this is a rationally driven economic strategic plan which fails to acknowledge that the alliance process is a very high risk strategy at the level of implementation, with reports of as many as two thirds failing. The direct causal link between universities and economic regeneration is contentious. The paper calls for greater understanding of the complex partnership process by drawing on the strategic alliance literature on how to minimize risk. It critically analyses the case of a long established partnership between university‐industry‐government – the teaching company scheme. Important governance issues are identified followed by an analysis of the two stages in the process of partner selection and implementation. The process is promoted as an exemplar to inform the increasing number of public/private sector partnerships.

[1]  H. Etzkowitz,et al.  The Future of the University and the University of the Future: Evolution of Ivory Tower to Entrepreneurial Paradigm , 2000 .

[2]  L. Leydesdorff.  The triple helix: an evolutionary model of innovations , 2000 .

[3]  C. Bartlett,et al.  The Multinational Corporation as an Interorganizational Network , 1990 .

[4]  Russell Craig,et al.  Scholarship in university business schools – Cardinal Newman, creeping corporatism and farewell to the “disturber of the peace”? , 1999 .

[5]  L. Leydesdorff,et al.  The dynamics of innovation: from National Systems and , 2000 .

[6]  C. Bartlett,et al.  Beyond the M-form: toward a managerial theory of the firm , 1993 .

[7]  Arvind V. Phatak,et al.  International Dimensions of Management , 1989 .

[8]  V. Horton.  An exploration of strategic collaboration in the Triad , 1998 .

[9]  Paul S. Goodman,et al.  Creating effective University-industry alliances: An organizational learning perspective , 1997 .

[10]  I. Nonaka.  A Dynamic Theory of Organizational Knowledge Creation , 1994 .

[11]  J. Jarillo,et al.  The Evolution of Research on Coordination Mechanisms in Multinational Corporations , 1989 .

[12]  S. Ghoshal,et al.  Horses for Courses: Organizational Forms for Multinational Corporations , 1993 .

[13]  Henry Etzkowitz,et al.  Tech Transfer, Incubators Probed at Triple Helix III , 2000 .

[14]  M. Gordon,et al.  PUBLICATION RECORDS AND TENURE DECISIONS IN THE FIELD OF STRATEGIC MANAGEMENT , 1996 .

[15]  John W. Medcof,et al.  Why too many alliances end in divorce , 1997 .

[16]  P. Dicken.  Global Shift: Transforming the World Economy , 2000 .

[17]  R. Grant.  Toward a Knowledge-Based Theory of the Firm,” Strategic Management Journal (17), pp. , 1996 .

[18]  J. Dunning.  Reappraising the Eclectic Paradigm in an Age of Alliance Capitalism , 1995 .