Cross-border market co-creation, dynamic capabilities and the entrepreneurial theory of the multinational enterprise

Publisher:
Oxford University Press
Publication Type:
Journal Article
Citation:
Industrial and Corporate Change, 2010, 19 (4), pp. 1247 - 1270
Issue Date:
2010-01
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The concepts of asset co-specialization and dynamic capabilities have been instrumental in furthering the organization and strategy scholarship agenda, but have so far had limited impact on the theory of the multinational enterprise (MNE) and foreign direct investment (FDI). In addition, the role of entrepreneurial management in orchestrating system-wide value creation through market and eco-system creation and co-creation, in order to advance private appropriation, has been all but ignored. We claim that these ideas can help explicate the nature of the MNE in the knowledge-based, semi-globalized economy. The nature of the MNE in its turn should not be seen as separable from either the objectives of the agents (entrepreneurs) who set them up or its essencethe employment of strategy to capture co-created value.
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