Towards a model of the New Public Enterprise
The New Public Enterprise in the world of practice, rather than theory, is about places: regions, organisations, locations. Business leadership may include the entrepreneurs with an interest in the ‘long-term prosperity of the locality’, whilst trade union leaders draw their legitimacy from direct election within their organisations. Sub-national debates on ownership, control and leadership show that devolution and decentralisation of decision-making in essentially shared spaces may reinforce or even co-construct mutual values. Emphasising the role of the public sector in leading enterprise and place-making can be seen as offering a positive force for change and reform. International attempts at successful public enterprise have become associated with accountability in socio-economic development, urban regeneration and growth. The growth of public enterprise requires a transformation in forms of governance too, through the adoption of enterprising principles and some rethinking of the nature of public entrepreneurship.