Designing successful business strategies for private public partnerships: an ontological approach. Issue 2 (17th May 2021)

• Record Type: Journal Article
• Authors: Papagiannis, Fragkoulis; Gazzola, Patrizia; Slavata, David; Grechi, Daniele
• Is Part Of: Kybernetes. Volume 51:Issue 2(2022)
• Page Start: 641
• Page End: 658
• Publication Date: 2021-05-17
• Subjects: Design -- Business systems -- Organisational structures; Cybernetics -- Periodicals; Systems engineering -- Periodicals; 003.505
• DOI: 10.1108/K-12-2020-0839
• Languages: English
• ISSNs: 0368-492X

Abstract

Abstract : Purpose: The purpose of this paper is to present an innovative approach for the strategic design of public–private partnerships (PPP) and private finance initiatives (PFI) based on ontology. Design/methodology/approach: Adopting a historic approach, it introduces a posteriori knowledge, deriving from the scheme's stakeholders at the construction and implementation phase of PPPs. Continuous failures of these collaboration schemes and initiatives underline the necessity for a novel project structure. The conceptual argument is based both on empirical and epistemological approaches. It integrates the value-added (VA) of the ontological theory in the PPP/PFI business strategy. Findings: The research emphasises contemporary design gaps of their current structure and proposes an ontological redesign. The proposed redesign produces a conceptually innovative scheme, which enhances the VA business strategies and their objectives to the structure of these collaborating schemes. Practical implications: The ontological design of this paper is useful for academics and business consultants around the world and especially in Europe for the successful growth and development of such dynamic collaborations. Originality/value: Enterprise ontology bridges conceptual and structural gaps of strategic objectives, which are primarily responsible for the failures of PPP collaboration.