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Identifying Key Success Factors of International Joint Ventures

The International joint ventures (IJVs) are the most effective way for companies to gain the scale and strength. This has been one of the leading foreign market entry methods over the last decade, especially in the vast Chinese market. Although IJVs are one of the most common forms of entry, numerous studies have shown that IJVs have failed to achieve the goals set for them, or even failed. Therefore, it is significant to study the factors that determine the success of IJVs. This paper takes Shanghai Nokia Bell, which has a foreign enterprise background and is a state-owned enterprise directly under the State-owned Assets Supervision and Administration Commission, as the research object. An interview-based survey method and an analysis based on the Ice Cone Model reveals that similar levels of commitment are critical factors for internal success. In contrast, an excellent regulatory environment and human resource factors can be considered as external success factors. These factors are particularly critical for Chinese-Finnish joint ventures during their operational phase in mainland China. Firms that do not include these conditions should concentrate on fulfilling them. Finally, the limitations of this study are discussed.