Edith Penrose and a learning-based perspective on the MNE and OLI

–	We apply insights from Edith Penrose’s work to extant theory of the multinational enterprise (MNE) as enveloped by John Dunning’s Ownership, Location, Internalization (OLI) Paradigm.
–	We suggest that Penrose’s knowledge/learning-based approach has important implications on the nature of, and the interactions between, O, L and I, and it helps endogenize and integrate the three elements of Dunning’s triad in the context of a dynamic, and strategic perspective of the MNE.
–	More importantly, a learning-based perspective adds a cognitive dimension to the MNE and OLI.
–	This supports a forward looking, synchronic decision making view, that may lead to apparently sub-optimal decisions, taken in view of anticipated changes, along-side strategic behaviour, aiming to effect such change, once decisions have been reached.
–	A Penrosean-inspired knowledge/learning-based perspective helps render the OLI more dynamic, strategic and forward looking.