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- Title
Edith Penrose and a Learning-Based Perspective on the MNE and OLI.
- Authors
Pitelis, Christos
- Abstract
• We apply insights from Edith Penrose's work to extant theory of the multinational enterprise (MNE) as enveloped by John Dunning's Ownership. Location, Internalization (OLI) Paradigm. • We suggest that Penrose's knowledge/learning-based approach has important implications on the nature of, and the interactions between. O, L and I. and it helps endogenize and integrate the three elements of Dunning's triad in the context of a dynamic, and strategic perspective of the MNE. • More importantly, a learning-based perspective adds a cognitive dimension to the MNE and OLI. • This supports a forward looking, synchronic decision making view, that may lead to apparently sub-optimal decisions, taken in view of anticipated changes, alongside strategic behaviour, aiming to effect such change, once decisions have been reached. • A Penrosean-inspired knowledge/learning-based perspective helps render the OLI more dynamic, strategic and forward looking.
- Subjects
INTERNATIONAL business enterprises; CORPORATE growth; PENROSE, Edith, 1914-1996; DECISION making; PROBLEM solving; BUSINESS planning; BUSINESS expansion; BUSINESS research
- Publication
Management International Review (MIR), 2007, Vol 47, Issue 2, p207
- ISSN
0938-8249
- Publication type
Article
- DOI
10.1007/s11575-007-0012-6