How to Ensure Successful Relationships Between Academic & Industry Partners

This paper reports on research findings on an empirical study currently underway into the relationships which universities establish with the external business community. In an increasingly competitive marketplace the importance of an institution’s reputation and its proven track record in establishing successful relationships with industry are having a direct impact on where potential students choose to study and on the type of industry contacts being attracted. With the recent focus in both Dearing and Garrick reports to the UK government on the trends for future external funding, the issue of how universities establish, conduct and strategically plan their relationships with industry is now a core element.

This paper analyses the relationships of one Scottish university with the industrial sector, using the Relationship Marketing literature as a background to establishing a strategy whereby institutions can better understand the requirements of all parties involved in the relationship. Specific focus is given to the concept of reciprocity and how this can be established from the outset in order to ensure longer-term success. The sample involved includes various industrial sectors and is being conducted at university level in order to guard against departmental bias. The study aims to provide universities with a clearer strategy for building successful relationships with industrial partners, by highlighting the critical success factors for both participants.