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It is also important that the development of specific innovation-support instruments be undertaken within the context of an overall strategy that is coherent and well coordinated. A Comparative Analysis. Christian Gianella. Sundbo, J. Much here depends on the region. Still, institutions can only flourish if they have been designed intelligently.
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One approach to this has centered on the public-private partnership approach as outlined in the Presidential Decision Directive 63 PDD , signed by President Clinton in Generally, project-oriented public-private partnerships have been more successful than process-oriented public-private partnerships. On the other hand, institutionalizing process-oriented public-private partnerships has proved more challenging.
The goals of such partnerships are often less clearly defined. Still, some process-oriented partnerships, namely in the financial and IT sectors, have developed sustainable models of success, which will be outlined in greater detail in this report. Five common elements emerged from an analysis of the various forms of collaboration: senior leadership support, leadership in the partnership, institutional design, incentives and value, and proper timing.
Senior leadership support was crucial for the Y2K project to effectively institutionalize collaboration in the financial sector. Senior leadership support facilitates the provision of resources to build up operational capacity, adds urgency, provides assistance in crucial moments, and helps break dependencies. Exercising effective leadership by those implementing the partnership is equally important to achieve early results and form the proper foundation for further growth. Such leadership is particularly important to ensure a smooth transition in the early stages of the partnership.
Still, institutions can only flourish if they have been designed intelligently. Such design includes a sustainable funding model, a clear division of labor, and the identification of appropriate counterparts.