ABSTRACT

This chapter discusses a domain for venturing in international firms where the driving force for venturing is predominantly headquarters and where the company seeks to develop and recombine its own resources and capabilities in order to accomplish the change and rejuvenation it wants. It emphasizes two important themes. First, there is a role for top-level headquarters' managers in recognizing opportunities, assessing and evaluating them, and choosing new strategic options as a response to competitive challenges. Second, there is a reliance on pre-existing, company-owned and controlled internal resources and capabilities for exploring and exploiting new opportunities around the world. The chapter looks at a need for the centralization of initiative and competence in leaders to direct change and growth initiatives in the firm. Researchers and analysts also can use firm-level quantitative secondary data and qualitative secondary data and take an historical perspective.