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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