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A joint venture (JV) is initiated as a strategy for harnessing different capabilities; yet, in their realization, strong forces often irrationally seem to split apart the very capabilities that need to be integrated for business success. In this article we explore the early years of a joint venture in the pharmaceutical industry. We address three splits:
Between the JV board (50/50 membership) and the operating level in terms of creating the requisite governance to work through critical differences among stakeholders.
Between the culture in the JV and the two parent cultures that created mistrust and confusion in interpreting the abilities and concerns of one another.
Between the leader's skill in negotiating the deals to create the JV and his inabilities to link the various capabilities that had been harnessed in the JV.