ABSTRACT
This chapter attempts to raise some of the issues that are important to the formation and strategic management of professional service firm joint ventures based on insights from an exploratory case study. The study suggests that, while many of the key issues in joint venture management are likely to be same for professional service firms as for any other type of firm. One key difference suggested is the fact that the strategic resources of professional service firms make decisions about their own allocation, sometimes without referring to parent-firm executives for advice. Insights from the case suggest that whereas it may be easier for professional service firms to establish autonomous ventures, joint ventures that need to be tightly integrated with 'parents' strategies and operations may require more investment in formal agreements, venture design and tight control structures than similar ventures established by manufacturing firms. The study reported here looks at only one professional service firm joint venture within a single industry.
