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

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  • Christos N. Pitelis
  • David J. Teece

Abstract

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 essence--the employment of strategy to capture co-created value. Copyright 2010 The Author 2010. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved., Oxford University Press.

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Bibliographic Info

Article provided by Oxford University Press in its journal Industrial and Corporate Change.

Volume (Year): 19 (2010)
Issue (Month): 4 (August)
Pages: 1247-1270

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Handle: RePEc:oup:indcch:v:19:y:2010:i:4:p:1247-1270

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Cited by:
  1. Kim, Phillip H. & Li, Mingxiang, 2014. "Injecting demand through spillovers: Foreign direct investment, domestic socio-political conditions, and host-country entrepreneurial activity," Journal of Business Venturing, Elsevier, vol. 29(2), pages 210-231.
  2. Christos Pitelis, 2013. "Towards a More ‘Ethically Correct’ Governance for Economic Sustainability," Journal of Business Ethics, Springer, Springer, vol. 118(3), pages 655-665, December.
  3. Peter G. Klein & Joseph T. Mahoney & Anita McGahan & Christos N. Pitelis, 2010. "Toward a Theory of Public Entrepreneurship," DRUID Working Papers, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies 10-07, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
  4. Richard N. Langlois, 2010. "Business Groups and the Natural State," Working papers, University of Connecticut, Department of Economics 2010-29, University of Connecticut, Department of Economics.
  5. Jell-Ojobor, Maria & Windsperger, Josef, 2014. "The Choice of Governance Modes of International Franchise Firms — Development of an Integrative Model," Journal of International Management, Elsevier, Elsevier, vol. 20(2), pages 153-187.
  6. Pitelis, Christos & Panagopoulos, Andreas, 2009. "Open innovation and the management of intra-firm conflict," MPRA Paper 23940, University Library of Munich, Germany.

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