In today’s 21st century business marketplace, you have to learn how to be creative to promote sustainable outcomes in business, whether you are a nonprofit or for profit entity. There are pros and cons to everything we do; for instance, exploring the great possibilities that can happen with public-private partnerships.
The goal of a public-private partnership (PPP) is to establish a sustainable and mutually advantageous cooperative arrangement between the public and private sector in the interests of benefiting the common good. Public and private participants contribute different thinking models and cultures to the partnership. On the public side there is a continual influence by decisions from senior level executives in the nonprofit arena. The private partner meanwhile plans, converts, operates, monitors and optimizes, aiming for quick, clear decisions and faultless risk assessment. In order for the project to succeed, it is absolutely necessary for the partners (on each side) to agree on common goals and standards, as well as on a common time schedule. They must be in agreement about their engagement at the financial, personal and ideal levels. This is the only way to create a common partnership-based project culture and requires appropriate management to drive the project forward in a process-oriented manner that is beneficial to all participating in the process.
HHE’s question is this, what positive outcomes do you feel can be generated from entering into public-private partnerships? If your NPO has participated in public-private partnerships, please share your experience with us regarding this hot topic.
The HHE Project Team