A Note on Penrosean Growth, Resource Bundles and the Uppsala Model of Internationalisation

Abstract

The Uppsala model of the internationalization process of the firm has many similarities with Penrosean growth theory but has been limited by ambiguity about the internal mechanisms of growth. Core insights from Penrose's Theory of the Growth of the Firm may advance development of the Uppsala model. Penrose's theory of growth is a powerful adjunct to the Uppsala model of the internationalization process of the firm. A variation on the Uppsala model that incorporates the dynamic and interdependent interaction between managerial choice, the formation of resource bundles and their connection to external opportunities is proposed.