Why the Home Region Matters: Location and Regional Multinationals

Much of the literature in international business analysing the multinational enterprise uses the country as the relevant environmental parameter. This paper presents both theoretical and empirical evidence to demonstrate that country‐level analysis now needs to be augmented by analysis at the ‘regional’ level of the broad triad markets of Europe, North America and the Asia Pacific. The great majority of the world's 500 largest firms concentrate their activities within their home region of the triad. This study uses variance component analysis and finds that this home region effect outperforms the country effect. Together, the regional and industry effects explain most of the geographic expansion of multinational enterprises (MNEs), whereas country, firm and year effects are very minor. The new data and variance component analysis on the activities of large MNEs reported here suggest that new thinking is required about the importance of large regions of the triad as the relevant unit of analysis for business strategy to supplement the conventional focus on the country.     

Impacts of institutional pressures and the strength of market supporting institutions in the host country on the ownership strategy of multinational enterprises: theoretical discussion and propositions

The ownership strategy of multinational enterprises (MNEs) i.e. the choice between wholly owned subsidiary (WOS) or international joint venture (IJV) is an extensively studied topic in international business studies. Many past studies concentrated on transactional, economic, location attraction, resource seeking and learning rationales for the ownership strategy of MNEs. However, it is important to note that MNEs enter a new institutional environment also when they enter new international markets. Therefore, the ownership strategy of MNEs is also influenced by the external as well as internal institutions. This paper attempts to address the impacts of different institutional pressures on ownership strategy of MNEs using the arguments from institutional theory. The paper also includes discussion about the strength of market supporting institutions in the host country and its impacts on the ownership strategy of MNEs. On the basis of the theoretical discussion, several propositions are developed in this paper. These propositions relate the ownership strategy of MNEs with the impacts of internal and external institutional pressures on it. It is also proposed to consider the impact of strength of market supporting institutions in the host country on the ownership strategy specifically. When the host country has well developed institutions supporting market conforming values, they can moderate the impacts of coercive and normative pressures from external institutions on the MNEs.     

A Note on Return on Foreign Assets and Foreign Presence for UK Multinationals*

Within the context of the international business literature on multinationality and performance we develop new data on the foreign presence and performance of large UK multinational enterprises (MNEs). There are 32 UK MNEs for which we can obtain data on both their degree of multinationality (measured by the ratio of foreign to total (F/T) sales) and their performance. Here, in addition to the traditional overall performance of the firm, shown as return on total assets, we use new data on the return on foreign assets (ROFA). We conduct analytical work to show the positioning of the UK MNEs in the ROFA and F/T sales space and provide regression results showing a linear relationship between multinationality and performance, using the new ROFA metric.     

Does innovation lead to global orientation? Empirical evidence from a sample of Italian firms

This paper analyses the relationship between innovation at firm and industry level, and the global vs regional strategy of multinational enterprises (MNEs). Based on data from a sample of large Italian manufacturing firms, the analysis shows that technological assets affect a firm’s ability to overcome the liability of (regional) foreignness: the extent to which MNEs can exploit their firm-specific technological advantages is greater within their home region, but they also exploit them outside it. Furthermore, the results show that a firm’s foreign (outside the home country) and global sales (outside the home region) are higher, the greater the technology intensity of the industry in which they operate. These findings suggest that, although MNEs tend to operate regionally rather than globally, their strategic orientation is contingent upon firm- and industry-specific factors. Managers need to take the potential for globally exploiting R&D investments into account, even if it may not be equally successful within and outside the home region, and may be constrained by a number of inter-regional barriers.     

NGOs and international business research: Progress,prospects and problems

Civil society, and non‐government organizations (NGOs) in particular, have become a research interest in international business (IB). The purpose of this paper is to review scholarly understandings of the nature and significance of NGOs in IB. Contributions from complementary research domains are also explored with a view to encouraging greater interdisciplinary integration in analysing the NGO sector and in particular its relations with multinational enterprises (MNEs). These domains are: strategic alliances and resource dependency; global governance and multilateralism; public management; and regulation theory. The primary argument is that such interdisciplinarity may facilitate more innovative IB treatments of the role of NGOs, reflecting more adequately their strategic environment and motivations. Moreover, including a multitude of perspectives helps to address broader issues identified by scholars as pivotal to the future standing of the field: the nature of strategic agency among organizations other than MNEs; the interpretation of globalization and its implications for organizations; and whether IB is too isolated from the other social sciences.     

Japanese Multinational Enterprises in China: Successful Adaptation of Marketing Strategies

Japanese international marketing has evolved. While some aspects of success (organisational abilities, long-term orientation, aggressive growth strategies, ownership, R&D) have been diffused from developed to emerging markets, others have been extended (identification of customer needs and wants, information-processing capabilities). Segmentation and positioning are fine-tuned and are significantly different from Japanese strategies in developed markets. The relatively short time-frame of foreign firms' market presence in China enables Japanese brands to address upmarket consumer clusters in parallel with Western brands. The case study approach underlines the necessity of testing received knowledge with the new realities of the international business environment. At the same time it sends out a clear warning not to over-generalise. Japanese MNEs adapt to the Chinese market in multifarious ways. It would be a mistake to characterise a ‘Japanese’ strategy for the Chinese market, as no single approach predominates. Even within our sample of three case studies, strategies vary between the three firms and within each firm they vary over time. In all three cases, the Japanese MNEs are very conscious of consumer needs in China and the dynamics of these needs. It is a fallacy to believe that because China is a poor nation then strategies have to be aimed at low-cost products. The luxury segment is large, growing, lucrative and identifiable. Each of our three firms pays great attention to the appearance, growth and sustainability of this sector and targets it precisely. Because of rapid changes in Chinese demand patterns and consumer behaviour, it is essential for firms to keep in touch with its development. However, Japanese investors in China are not just responsive to demand patterns – they are prepared to lead them. This involves taking risks with standard business formats and with cherished home country practices. This, Japanese firms are prepared to do in China. Thus, Japanese firms balance stability (safe consumer sectors) with innovation (new products). A similar balance can be seen between adaptation to Chinese conditions and the use of standardised products, formats and approaches. The first strategy attracts revenue, the second reduces costs and therefore risks. A flexibility of approach is evident from Japanese MNEs in China – witness the extent to which they are willing to modify strategies over time as conditions change. Overall, we conclude that Japanese MNEs are not ‘Western’ or ‘Japanese’ in their approach to the Chinese market, but are flexible, realistic and pragmatic.

It is a fallacy to believe that because China is a poor nation then strategies have to be aimed at low-cost products     

8.

A regional solution to the strategy and structure of multinationals   总被引：1，自引：1，他引：0  

Alan M.  Alain 《European Management Journal》2008,26(5):305-313

The transnational solution developed by Bartlett and Ghoshal is shown to be suitable for only a few special cases of multinational enterprise (MNE) strategy and structure. As MNEs have most of their assets and sales within their home region, they are in need of regional, not transnational strategy and structure. Here we provide data on the regional dimension of assets and sales of the world’s largest 500 multinationals. We explore how the empirical reality of a regional concentration of assets and sales imposes a regional solution, rather than the transnational solution.     

9.

The international training of expatriates in Western subsidiaries of emerging multinational enterprises: A knowledge-based perspective     

《Journal of International Management》2022,28(1):100908

There is a considerable gap in academic theoretical literature about the international training of expatriates in multinational enterprises (MNEs). While the majority of research has focused on developed (Western) multinationals operating in developing countries, very limited research has been conducted on emerging multinational enterprises (EMNEs) operating in developed countries and the expatriates who work in them. In this study, we explore the international training of expatriates in Indian MNEs from the information technology industry operating in Australia to examine how they provide training to their expatriate staff who are sent on international assignments. We collected qualitative data in the form of multiple case studies via interviews with senior executives based in the Australian subsidiaries. Our findings reveal that Indian IT MNEs provide a variety of centralised training programmes for their managerial and technical expatriates and use training as a key instrument to leverage and transfer home country knowledge to their Australian subsidiaries. We also found that each stakeholder involved in the training process plays a distinct role in the knowledge transfer process, which allows Indian EMNEs to integrate the training with their people-centred business model to deliver IT services in host countries.     

10.

加拿大企业全球竞争战略探析   总被引：4，自引：0，他引：4  

韩经纶  王永贵 《南开管理评论》2001,4(2):28-35

在关税与非关贸易壁垒不断降低和政府管制逐渐放松的今天,企业全球化浪潮正愈演愈烈。本文从加拿大企业全球竞争战略出发,对加拿大企业在国际市场上获得巨大成功的经验进行分析,以便对我国企业的国际经营有所借鉴。     

11.

Regional integration and the regional risk paradox     

《European Management Journal》2022,40(5):793-808

How does regional economic integration affect the risk exposure of multinational enterprises (MNEs)? Investigating firm regionalization patterns, I uncover evidence of the regional risk paradox: as MNEs regionalize to exploit the lower risk environment offered by regional economic integration initiatives, they ultimately increase their regional risk exposure by deepening their commitment and embeddedness in regional business networks. Informed by the Theory of the Regional Multinationals and by theories of regional integration, I employ a social network lens to investigate the evolving structure of business relationships in regions governed by different regional integration frameworks. I then explore the implications of these evolving relationship network structures on the transformation of regional business risk. I find that moderately integrated regions lower transaction costs to moderately low levels, thus encouraging moderate MNE regionalization. This leads to moderate MNE embeddedness in loosely coupled regional business networks and a moderate increase in regional risk. By contrast, deeply integrated regions lower regional administrative distance to very low levels and encourage intense MNE regionalization. This leads to deep MNE embeddedness in tightly coupled regional business networks and a significant increase in regional risk.     

12.

Toward a theory of local legitimacy by MNEs in developing nations: Newmont mining and health sustainable development in Peru     

《Journal of International Management》2008,14(4):340-352

This paper describes a current initiative by Newmont Mining Corporation (Newmont) to develop sustainable community benefit in communities around its mining operations in Peru in response to heightened criticism of Newmont by non-government organizations and the media. Using anthropologically oriented methods, a community health assessment project in an area of projected mining is described in detail in this paper. This case adds to London and Hart's social embeddedness strategy for multi-national enterprises (MNEs) working in developing nations by introducing a locally-based community interaction model, which we describe as a local legitimacy strategy, in an effort to bring about sustainable development in the communities that surround a MNE's production activities. The components of our local legitimacy strategy include co-analysis of community needs by MNEs and community partners, and planning and investment in developments to enhance the social fabric and the physical infrastructure needs of communities. The developing world is getting better at publicizing and monitoring the work of MNEs. We argue that it will be increasingly necessary for MNEs, like Newmont, to add local sustainable benefit into their strategic mix to gain the social license and legitimacy that is needed to operate in poorer communities.     

13.

An empirical evaluation of the management resourcing strategy of a Western multinational within a post-socialist Polish subsidiary     

Izabela Robinson 《Human Resource Development International》2013,16(4):399-416

The continued globalization process and internationalization of business is increasingly raising issues concerning human resource strategy and practice in those organizations operating across international boundaries. This paper presents an empirical evaluation of the management resourcing strategy of a Western multinational corporation (MNC) within a post-socialist Polish subsidiary. Findings suggest a high level of pragmatism in relation to management staffing decisions. Whilst normative resourcing models emphasize the importance of environment, organization and job analysis in selecting and preparing managers for expatriate appointments, these processes are contingency constrained. Difficulties of adaptation and integration of the Polish subsidiary serve to increase reliance on expatriate managers.     

14.

Navigating institutional change: An historical perspective of firm responses to pro-market reversals     

Michael Aldous  Kieran M. Conroy 《Journal of International Management》2021,27(2):100849

We explore the strategic responses of multinational enterprises (MNEs) in the context of protracted institutional change. Analyzing the long-run trajectory of three British MNEs during the setting of Indian independence, we find that these firms engaged in a series of tactical and strategic responses to address uncertain institutional changes in the form of pro-market reversals. Our findings reveal how MNE responses are characterized by path dependence and path creation in that they are historically conditioned by patterns of previous decisions and actions. We demonstrate how tactical responses to earlier institutional changes coalesce to shape dominant strategic responses in later periods. Our paper contributes to a more holistic conceptualization of how MNEs strategize in response to pro-market reversals by integrating a business history lens.     

15.

Internationalization, innovation and entrepreneurship: business models for new technology-based firms   总被引：3，自引：0，他引：3  

Alberto Onetti  Antonella Zucchella  Marian V. Jones  Patricia P. McDougall-Covin 《Journal of Management and Governance》2012,16(3):337-368

New technology-based firms, particularly those that develop their business around a new technological platform, are likely to be impacted by globalization, in terms of both pace of innovation and pressure of competition. For these firms, strategic decisions and growth processes are characterized by a deep inter-relationship amongst the processes of internationalization, innovation and entrepreneurship; processes which have tended to be examined independently in distinct bodies of literature. In practice strategic decisions concern each of these processes and address issues such as organizational boundaries, location of the operational activities, what activities to focus on and selection of value partners. The business model by which firms operate needs also to accommodate the spatial dimensions indicated by globalization; and the emergence of global technology markets. Little is known to date about the extent to which business models accommodate or are adapted to internationalization, innovation and entrepreneurship. This paper presents a review of the business model literature from which a generic business model framework is derived, identifying and introducing the main elements of these processes as the firms?? focus, modus and locus. This contribution makes a clear distinction between the business model and the strategy concepts and highlights the relevance of location decisions??not considered by extant business model literature to date. While our discussion draws on the high technology new venture as our primary example, we believe our business model conceptualization has general applicability.     

16.

Intra- and inter-regional diversification,subsidiary value chain activities and expatriate utilization     

《Journal of International Management》2019,25(3):100668

Although it is well established in the current staffing literature that why and how multinational enterprises (MNEs) allocate more or fewer expatriates in some subsidiaries than others, little is known about why and how some MNEs utilize more or fewer expatriates than other MNEs. This paper builds on regionalization theory to argue that intra- and inter-regional diversification has to do with the overall use of expatriates in MNEs. An empirical investigation of Korean MNEs demonstrates that the degree of intra- and inter-regional diversification has significant impacts on the level of expatriate utilization by MNEs. The results also reveal an interesting moderating influence of subsidiary value chain activities. MNEs tend to vigorously adjust their use of expatriates in downstream subsidiaries depending on the degree of intra- and inter-regional diversification. However, they do not adjust their use of expatriates in manufacturing subsidiaries upon the degree of international diversification. Overall, this study extends our understanding of how MNEs manage a geographically dispersed organization in a semi-globalized world.     

17.

Legal Distance,Cognitive Distance,and Conflict Resolution in International Business Intellectual Property Disputes     

《Journal of International Management》2014,20(2):188-200

     

18.

Are multinational enterprises from the emerging economies global or regional?   总被引：1，自引：0，他引：1  

Deepak   《European Management Journal》2009,27(5):356

While there is ample statistical evidence that the top 500 multinational enterprises (MNEs) are predominantly home-region-bound or bi-regional, the operations of MNEs from the emerging economies have not been comprehensively analyzed. This constitutes a vital gap since firms from emerging economies have been making prominent acquisitions in recent years, and these economies are expected to post impressive growth despite the global economic slowdown. MNE managers cannot ignore such opportunities and threats. This study analyzes the operations of MNEs from four leading emerging economies – Brazil, Russia, India and China (BRIC). Since aggregated FDI data often lack transparency due to off-shore tax havens, we supplement that analysis by examining 1430 mergers and acquisitions undertaken by MNEs from BRIC economies during 2000–2007. We also develop insights into their dispersion pattern across five industry sectors in six geographical regions.     

19.

流血转型——2012中国管理创新年度报告     

本刊编辑部 《经理人》2012,(9):30-31,20

2012年,对中国企业而言,经营形势比2008年金融危机更严峻!一边利润下降,主业不保;一边被迫转型,但新产业发展缓慢。这,就是中国企业的基本处境。我们称之为“流血转型”。转型要成功,靠什么？离不开管理创新!     

20.

Creating a corporate vision     

M. S. S. El-Namaki 《Long Range Planning》1992,25(6):25-29

Work on strategy has only recently been paying attention to the role of vision in the strategic management process and the possible relationship between vision and concepts as creativity, leadership and entrepreneurship. Analysis, however, has not been uniform in defining the core issues itself or in positioning vision within the overall strategic management construct. Even worse, the inter-relationship between vision and other concepts like leadership and entrepreneurship was only casually treated. This article is an attempt at putting strategic vision within one consistent conceptual frame. A frame that would encompass a definition, a set of attributes, an input and output flow and an operationalization dimension. The article relies heavily on contemporary work on strategy, entrepreneurship, creativity, leadership and organization. Illustrative cases are drawn from recent business (and non-business) histories of business organizations.     

A regional solution to the strategy and structure of multinationals

The transnational solution developed by Bartlett and Ghoshal is shown to be suitable for only a few special cases of multinational enterprise (MNE) strategy and structure. As MNEs have most of their assets and sales within their home region, they are in need of regional, not transnational strategy and structure. Here we provide data on the regional dimension of assets and sales of the world’s largest 500 multinationals. We explore how the empirical reality of a regional concentration of assets and sales imposes a regional solution, rather than the transnational solution.     

The international training of expatriates in Western subsidiaries of emerging multinational enterprises: A knowledge-based perspective

There is a considerable gap in academic theoretical literature about the international training of expatriates in multinational enterprises (MNEs). While the majority of research has focused on developed (Western) multinationals operating in developing countries, very limited research has been conducted on emerging multinational enterprises (EMNEs) operating in developed countries and the expatriates who work in them. In this study, we explore the international training of expatriates in Indian MNEs from the information technology industry operating in Australia to examine how they provide training to their expatriate staff who are sent on international assignments. We collected qualitative data in the form of multiple case studies via interviews with senior executives based in the Australian subsidiaries. Our findings reveal that Indian IT MNEs provide a variety of centralised training programmes for their managerial and technical expatriates and use training as a key instrument to leverage and transfer home country knowledge to their Australian subsidiaries. We also found that each stakeholder involved in the training process plays a distinct role in the knowledge transfer process, which allows Indian EMNEs to integrate the training with their people-centred business model to deliver IT services in host countries.     

加拿大企业全球竞争战略探析

在关税与非关贸易壁垒不断降低和政府管制逐渐放松的今天,企业全球化浪潮正愈演愈烈。本文从加拿大企业全球竞争战略出发,对加拿大企业在国际市场上获得巨大成功的经验进行分析,以便对我国企业的国际经营有所借鉴。     

Regional integration and the regional risk paradox

How does regional economic integration affect the risk exposure of multinational enterprises (MNEs)? Investigating firm regionalization patterns, I uncover evidence of the regional risk paradox: as MNEs regionalize to exploit the lower risk environment offered by regional economic integration initiatives, they ultimately increase their regional risk exposure by deepening their commitment and embeddedness in regional business networks. Informed by the Theory of the Regional Multinationals and by theories of regional integration, I employ a social network lens to investigate the evolving structure of business relationships in regions governed by different regional integration frameworks. I then explore the implications of these evolving relationship network structures on the transformation of regional business risk. I find that moderately integrated regions lower transaction costs to moderately low levels, thus encouraging moderate MNE regionalization. This leads to moderate MNE embeddedness in loosely coupled regional business networks and a moderate increase in regional risk. By contrast, deeply integrated regions lower regional administrative distance to very low levels and encourage intense MNE regionalization. This leads to deep MNE embeddedness in tightly coupled regional business networks and a significant increase in regional risk.     

Toward a theory of local legitimacy by MNEs in developing nations: Newmont mining and health sustainable development in Peru

This paper describes a current initiative by Newmont Mining Corporation (Newmont) to develop sustainable community benefit in communities around its mining operations in Peru in response to heightened criticism of Newmont by non-government organizations and the media. Using anthropologically oriented methods, a community health assessment project in an area of projected mining is described in detail in this paper. This case adds to London and Hart's social embeddedness strategy for multi-national enterprises (MNEs) working in developing nations by introducing a locally-based community interaction model, which we describe as a local legitimacy strategy, in an effort to bring about sustainable development in the communities that surround a MNE's production activities. The components of our local legitimacy strategy include co-analysis of community needs by MNEs and community partners, and planning and investment in developments to enhance the social fabric and the physical infrastructure needs of communities. The developing world is getting better at publicizing and monitoring the work of MNEs. We argue that it will be increasingly necessary for MNEs, like Newmont, to add local sustainable benefit into their strategic mix to gain the social license and legitimacy that is needed to operate in poorer communities.     

An empirical evaluation of the management resourcing strategy of a Western multinational within a post-socialist Polish subsidiary

The continued globalization process and internationalization of business is increasingly raising issues concerning human resource strategy and practice in those organizations operating across international boundaries. This paper presents an empirical evaluation of the management resourcing strategy of a Western multinational corporation (MNC) within a post-socialist Polish subsidiary. Findings suggest a high level of pragmatism in relation to management staffing decisions. Whilst normative resourcing models emphasize the importance of environment, organization and job analysis in selecting and preparing managers for expatriate appointments, these processes are contingency constrained. Difficulties of adaptation and integration of the Polish subsidiary serve to increase reliance on expatriate managers.     

Navigating institutional change: An historical perspective of firm responses to pro-market reversals

We explore the strategic responses of multinational enterprises (MNEs) in the context of protracted institutional change. Analyzing the long-run trajectory of three British MNEs during the setting of Indian independence, we find that these firms engaged in a series of tactical and strategic responses to address uncertain institutional changes in the form of pro-market reversals. Our findings reveal how MNE responses are characterized by path dependence and path creation in that they are historically conditioned by patterns of previous decisions and actions. We demonstrate how tactical responses to earlier institutional changes coalesce to shape dominant strategic responses in later periods. Our paper contributes to a more holistic conceptualization of how MNEs strategize in response to pro-market reversals by integrating a business history lens.     

Internationalization, innovation and entrepreneurship: business models for new technology-based firms

New technology-based firms, particularly those that develop their business around a new technological platform, are likely to be impacted by globalization, in terms of both pace of innovation and pressure of competition. For these firms, strategic decisions and growth processes are characterized by a deep inter-relationship amongst the processes of internationalization, innovation and entrepreneurship; processes which have tended to be examined independently in distinct bodies of literature. In practice strategic decisions concern each of these processes and address issues such as organizational boundaries, location of the operational activities, what activities to focus on and selection of value partners. The business model by which firms operate needs also to accommodate the spatial dimensions indicated by globalization; and the emergence of global technology markets. Little is known to date about the extent to which business models accommodate or are adapted to internationalization, innovation and entrepreneurship. This paper presents a review of the business model literature from which a generic business model framework is derived, identifying and introducing the main elements of these processes as the firms?? focus, modus and locus. This contribution makes a clear distinction between the business model and the strategy concepts and highlights the relevance of location decisions??not considered by extant business model literature to date. While our discussion draws on the high technology new venture as our primary example, we believe our business model conceptualization has general applicability.     

Intra- and inter-regional diversification,subsidiary value chain activities and expatriate utilization

Although it is well established in the current staffing literature that why and how multinational enterprises (MNEs) allocate more or fewer expatriates in some subsidiaries than others, little is known about why and how some MNEs utilize more or fewer expatriates than other MNEs. This paper builds on regionalization theory to argue that intra- and inter-regional diversification has to do with the overall use of expatriates in MNEs. An empirical investigation of Korean MNEs demonstrates that the degree of intra- and inter-regional diversification has significant impacts on the level of expatriate utilization by MNEs. The results also reveal an interesting moderating influence of subsidiary value chain activities. MNEs tend to vigorously adjust their use of expatriates in downstream subsidiaries depending on the degree of intra- and inter-regional diversification. However, they do not adjust their use of expatriates in manufacturing subsidiaries upon the degree of international diversification. Overall, this study extends our understanding of how MNEs manage a geographically dispersed organization in a semi-globalized world.     

Are multinational enterprises from the emerging economies global or regional?

While there is ample statistical evidence that the top 500 multinational enterprises (MNEs) are predominantly home-region-bound or bi-regional, the operations of MNEs from the emerging economies have not been comprehensively analyzed. This constitutes a vital gap since firms from emerging economies have been making prominent acquisitions in recent years, and these economies are expected to post impressive growth despite the global economic slowdown. MNE managers cannot ignore such opportunities and threats. This study analyzes the operations of MNEs from four leading emerging economies – Brazil, Russia, India and China (BRIC). Since aggregated FDI data often lack transparency due to off-shore tax havens, we supplement that analysis by examining 1430 mergers and acquisitions undertaken by MNEs from BRIC economies during 2000–2007. We also develop insights into their dispersion pattern across five industry sectors in six geographical regions.     

流血转型——2012中国管理创新年度报告

2012年,对中国企业而言,经营形势比2008年金融危机更严峻!一边利润下降,主业不保;一边被迫转型,但新产业发展缓慢。这,就是中国企业的基本处境。我们称之为“流血转型”。转型要成功,靠什么？离不开管理创新!     

Creating a corporate vision

Work on strategy has only recently been paying attention to the role of vision in the strategic management process and the possible relationship between vision and concepts as creativity, leadership and entrepreneurship. Analysis, however, has not been uniform in defining the core issues itself or in positioning vision within the overall strategic management construct. Even worse, the inter-relationship between vision and other concepts like leadership and entrepreneurship was only casually treated. This article is an attempt at putting strategic vision within one consistent conceptual frame. A frame that would encompass a definition, a set of attributes, an input and output flow and an operationalization dimension. The article relies heavily on contemporary work on strategy, entrepreneurship, creativity, leadership and organization. Illustrative cases are drawn from recent business (and non-business) histories of business organizations.