ABSTRACT
This chapter discusses a domain for venturing behavior in international firms where managers in overseas subsidiaries are the driving force for venturing and where the company's own resources and capabilities are leveraged in order to accomplish the change and rejuvenation sought by those managers. It emphasizes a role for overseas subsidiary managers in recognizing, assessing and choosing new strategic options as a response to opportunities that they come across. The chapter also emphasizes the use of pre-existing internal resources and capabilities in new ways to seize new opportunity. This context arises for the multinational enterprise (MNE) because entrepreneurial competences get dispersed throughout numerous locations around the world as a result of the firm's internationalization. It is important to understand why subsidiary managers act in the way they do. Entrepreneurial cognition theory helps to highlight individual cognitive factors as determinants of entrepreneurial action as well as the situational context in which individuals find themselves.
