Firms operating in international markets today seek competitive advantage. It has been suggested that if international business scholars agree on a ‘big question’ for the field, it ought to concern explanations of the differential performance of internationalizing firms – that is, ‘What determines the international success and failure of firms’ (Peng 2004: 99). Competitive advantage is at the very core of strategic management and an issue of interest to many researchers who focus on internationalization. Internationalization, after all, is ‘a major dimension of the ongoing strategy process of most business firms’ (Melin 1992: 101). Ultimately, successful internationalization is pointless if it does not help firms achieve greater strategic performance.