Alain Verbeke Haskayne School of Business, University of Calgary The Nature of Ownership Advantages in International Business

Correct Intellectual Basis for O 2 All business activity - by the self-employed individual and the largest MNE - follows from entrepreneurial activity: An entrepreneur is someone who specializes in taking judgmental decisions about the coordination of scarce resources. (Casson, The Entrepreneur, 2 nd ed., 2003) = O. International business has specific resource coordination requirements: (re)combining specific sets of FSAs and location advantages. Essence of resource recombination in competitive industries is always managing the innovation process in its entirety from R&D to serving customers.

3

4

5

6

7

8

9

10