Joint Ventures
Joint Ventures: Cultural Considerations Key to Success By Catherine Workman, Partner, Head of Middle East, Pinsent Masons and Luke Tapp, Partner, Pinsent Masons. Treating diversity, inclusion and other cultural considerations seriously will help to create a single identity for
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your joint venture (JV), building loyalty among your people and setting you up for long term success. By bringing together different corporate cultures, local and international expertise and a diverse mix of people, joint ventures offer significant opportunities to share skills and build innovative partnerships. Understanding and accounting for this diversity will help to foster a sense of belonging among your team and allow everyone to work towards a common goal.
THE CHALLENGE Globalisation has resulted in the creation of joint ventures by companies from all over the world. Nowhere is this more important than the Middle East, where regional workforces are often made up of global talent with a wide variety of age ranges and cultural backgrounds. At the same time, government initiatives often specify ‘local content’ requirements, ensuring foreign direct investment drives up local participation and employment.
