The multinational enterprise, capabilities, and digitalization: governance and growth with world disorder

This essay revisits my 2014 JIBS article about the potential for integrating international business internalization theory with a strategic management capabilities perspective. It recaps the capabilities framework with an emphasis on the learning required of emerging market multinationals and illust...

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Bibliographic Details
Published in:Journal of international business studies Vol. 56; no. 1; pp. 7 - 22
Main Author: Teece, David J.
Format: Journal Article
Language:English
Published: London Palgrave Macmillan UK 01.02.2025
Palgrave Macmillan
Subjects:
Ability
Accentuation
Business
Business and Management
Business Strategy/Leadership
Companies
Digital technology
Economic growth
Emerging markets
Geopolitics
Global economy
Globalization
Governance
Internalization
International Business
Management
Multinational corporations
Organization
Retrospective
Strategic management
Supply
Trade
Uncertainty
Emerging market multi-nationals
Digitalization
Hyundai Motor
Organizational learning
Capabilities and capability development
Business/government interaction
ISSN:0047-2506, 1478-6990
Online Access:Get full text
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Summary:This essay revisits my 2014 JIBS article about the potential for integrating international business internalization theory with a strategic management capabilities perspective. It recaps the capabilities framework with an emphasis on the learning required of emerging market multinationals and illustrates this with the case of Hyundai Motor Company’s internationalization and growth. It also discusses two aspects of the global economy that have become more prominent since 2014 in shaping international business: geopolitical uncertainty and digitalization. A rise in geopolitical tensions appears to be rebalancing the relationships between multinationals and home/host governments. Digitalization facilitates international business; but it adds new vulnerabilities by (further) accelerating competition, enabling new rivals, and introducing systemic risks into digital supply chains. Implications for managers, board members, and international business scholars are drawn.
Bibliography:ObjectType-Article-1
SourceType-Scholarly Journals-1
ObjectType-Feature-2
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ISSN:0047-2506
1478-6990
DOI:10.1057/s41267-024-00767-7