High performance management of shared‐managed joint venture teams: contextual and socio‐dynamic factors

Evidence from joint venture research points to the vital role of the group of individuals who manage the administration of the venture. Venture managers face challenges that may not be present in top management teams within the hierarchy of a firm. Despite substantial research on joint ventures, understanding of this unique management group remains rudimentary. This article focuses on management processes in shared‐managed joint ventures. It suggests that the evolution and effectiveness of the management team in joint ventures may be facilitated by certain key contextual and individual level factors. Looking at venture management as an inter‐organizational group of people composed of members representing parent organizations whose behavior is regulated by a common set of expectations can give clues to the special nature of joint venture management tasks. The individuals nominated to the team as well as some key performance‐facilitating contextual factors may affect team effectiveness. Research and practical implications are offered.