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Public-Private Partnership: Synergy Between Higher Education Institutions And Business Or Industrial Organizations

Abstract Based on existing studies on the necessity and significance of public-private partnership. The present paper focuses on the most recent perspectives and outcomes of connecting higher education to the business community: industrial organizations development and labour market demand. It is a commonplace statement that anticipative thinking, visionary leadership and strategic management are key factors of all organizations – industrial and non-industrial – for gaining advantage on a highly competitive, unpredictable and challenging market. This holds true for both HEIs and industrial organizations which should place value on a permanent interaction among: universities (as knowledge creators and disseminators and focused on fundamental research), industry (as promoters of innovation and applied research); and society (in view of an educated and skilled citizenry). The present study highlights the benefits and outcomes of the public-private partnership and illustrating best practices in the field.