2: Separating Fact from Fiction

You mentioned that you have a young family, David. I’m a little older than you are so I don’t know if parents still read Dr. Spock’s classic book, Baby and Child Care. For generations of parents, it was the standard for anyone with little ones at home. The first line in that book was both memorable and reassuring to existing and potential parents: “You know more than you think.” Well, for the usually younger businesses I work with, international joint ventures, my initial message is less reassuring. Seldom has there been a field of business activity with so much misunderstanding and anecdote masquerading as fact. Unfortunately I’d have to go so far as to conclude that many managers know less about joint ventures than they think!