Revolutionising Public Private Partnerships: A Transition to the Fifth Industrial Revolution

Danielle Nel-Sanders ()

International Journal of Innovation in Management, Economics and Social Sciences, 2023, vol. 3, issue 1, 12-29

Abstract: Purpose: The purpose of this article is to examine Public Private Partnerships (PPPs) in the Fifth Industrial Revolution (5IR). Government does not have the capacity to deliver services by itself. As a result, PPP have played an important role to assist government in delivering services in an efficient and reliable manner. Amongst the benefits of PPPs are value for money, risk transfer and affordability. Partnerships are increasingly important to assist government in achieving development goals. The fourth industrial revolution (4IR) presents a number of implications in terms of government service delivery. PPPs are necessary to navigate these changes. This article aims to determine how PPPs can be improved to transition to the 5IR. The 5IR entails a supersmart society where humans are the pivotal link in overseeing technology. Methodology: This article is descriptive and conceptual in nature. Unobtrusive methods are used to synthesise and integrate extant research. Findings: A conceptual model is developed to illustrate the necessary elements in forming a PPP ecosystem that is relevant to the 5IR and human-centric. Originality/Value: Very little research has been done on the 5IR, particularly no research has been done on the purpose, scope and nature of public private collaboration for improving PPPs in the 5IR.

Keywords: Public private partnership; innovation; supersmart society; fourth industrial revolution; fifth industrial revolution (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:bao:ijimes:v:3:y:2023:i:1:p:12-29:id:77

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