Creating Superior Value through Innovative Partnership Solutions; A case study of how a public-private partnership can contribute to increased stakeholder value for the Åby Recreational Area

Abstract

Today, cross-border collaborations between governments, companies, civil society and the academia are considered necessary for tackling urban sustainability challenges. Studies have shown that public-private partnerships are an innovative solution for developing public areas, as they allow for enhanced creation of value not only for the partners but also for the public. However, research in the field mainly tends to focus on larger scale matters such as infrastructure development projects. This study thus complements the field of research by giving specific empirical insights to how such partnerships can be applied to a smaller project for which the main purpose is to increase the social benefits accrued to the local community. The main purpose of this qualitative single case study is hence to ascertain the feasibility of developing the focal project, the Åby Recreational Area, with the aid of a public-private partnership. This we aim to fulfil by identifying what opportunities for value creation such a partnership would bring. According to theory public-private partnerships can entail several advantages, but engaging in such collaborations also poses challenges. The findings of this study largely agree with research in the field, and shows that forming a public-private partnership would bring value by helping to significantly enhance the social benefits sought after. However, findings also show that the situation as of now gives rise to a number of significant challenges that must be overcome. Moreover, theory appoints a number of critical success factors that are vital to consider as to ensure the maximum yield from the partnership efforts. The findings show that the Åby project fulfils few of these to date, thus indicating that this is an area at which efforts must be directed. Consequently, the study renders important findings and provides valuable recommendations for how to proceed with the partnership plans, by indicating in which areas capabilities are insufficient and what aspects must be strengthened at this point.