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Internalization theory is a branch of economics that is used to analyse international business behaviour. Internalization theory focuses on imperfections in intermediate product markets. Two main kinds of intermediate product are distinguished: knowledge flows linking research and development (R&D) to production, and flows of components and raw materials from an upstream production facility to a downstream one. Most applications of the theory focus on knowledge flow. Proprietary knowledge is easier to appropriate when intellectual property rights such as patents and trademarks are weak. Even with strong protections firms protect their knowledge through secrecy. Instead of licensing their knowledge to independent local producers, firms exploit it themselves in their own production facilities. In effect, they internalise the market in knowledge within the firm. The theory claims the internalization leads to larger, more multinational enterprises, because knowledge is a public good. Development of a new technology is concentrated within the firm and the knowledge then transferred to other facilities.
Christopher A. Bartlett is an Australian organizational theorist, and Emeritus Professor of Business Administration at the Harvard Business School, known for his work on multinational corporation and transnational management with Sumantra Ghoshal.
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Social capital is the product of human interactions and relationships, which occur between individuals and social networks. Therefore, it can be summarized as the shared links, understandings and values that allow individuals and groups to trust each other, and therefore, to work with each other in society.
References
- ↑ Biersteker, Thomas (1978). Distortion of Development? Contending Perspectives on the Multinational Corporation.
- ↑ Drucker, Peter F. (1997). "The Global Economy and the Nation-State". Foreign Affairs. 76 (5): 159–171. doi:10.2307/20048206. JSTOR 20048206.
- ↑ Case study: The Relationship between the Structure/Strategy of Multinational Corporations and Patterns of Knowledge Sharing within them (PDF). Oxford University Press. 2009.
- ↑ "What is transnational company? definition and meaning". BusinessDictionary.com. Archived from the original on 2020-09-22. Retrieved 2020-10-09.
- ↑ Schermerhorn, John R. (2009). Exploring Management. John Wiley and Sons. p. 387. ISBN 978-0-470-16964-3.
- ↑ "Integrated international production". World Investment Report 1993. United Nations Conference on Trade and Development (UNCTAD) World Investment Report (WIR). 1993. doi:10.18356/e39588ec-en. ISBN 9789213626696. ISSN 2225-1677.
- ↑ "How the East India Company became the world's most powerful business". https://www.nationalgeographic.co.uk/history-and-civilisation/how-east-india-company-became-worlds-most-powerful-businessNational Geographic. Retrieved 2020-10-23.
- ↑ Ghoshal, Sumantra; Bartlett, Christopher A. (1993), "The Multinational Corporation as an Interorganizational Network", Organization Theory and the Multinational Corporation, London: Palgrave Macmillan UK, pp. 77–104, doi:10.1007/978-1-349-22557-6_4, ISBN 978-1-349-22559-0 , retrieved 2023-12-20
- ↑ Bartlett, Christopher A.; Ghoshal, Sumantra (2009), "Managing Across Borders: The Transnational Solution", Rugman Reviews, London: Macmillan Education UK, pp. 81–83, doi:10.1007/978-1-137-28787-8_25 (inactive 2024-02-16), ISBN 978-0-230-22125-3
{{citation}}: CS1 maint: DOI inactive as of February 2024 (link) - ↑ Petit, Pascal (1998), "Transnational Service Corporations in the Process of Globalization", Transnational Corporations and the Global Economy, London: Palgrave Macmillan UK, pp. 134–163, doi:10.1007/978-1-349-26523-7_5, ISBN 978-1-349-26525-1 , retrieved 2023-12-20
- ↑ Neal, Larry; Williamson, Jeffrey G. (2014-01-23), "The futureof capitalism", The Cambridge History of Capitalism, Cambridge University Press, pp. 530–546, doi:10.1017/cho9781139095105.016, ISBN 978-1-139-09510-5 , retrieved 2023-12-20
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