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Innovation and Competition

In: International Business in Australia before World War One

Author

Listed:
  • Simon Ville

    (University of Wollongong)

  • David Merrett

    (University of Melbourne)

Abstract

One of the motives for an MNE to settle in an overseas host was to exploit the firm’s competitive advantages, as we saw in Chap. 6 . These advantages were often associated with innovation, broadly defined. The intruding firm might be welcomed for bringing fresh ideas, initiating new markets and enabling up- and downstream firms to expand. This was particularly the case for British firms whose economic resources and development experiences were very different from those in Australia. To the extent that some MNEs operated across a range of nations, the promise of multilateral new ideas and cross-fertilisation appeared greater. Many British firms were free-standing companies for whom Australia was the only country of operations and therefore their main focus, although they were frequently managed by entrepreneurs networked into a broad British business community. Sources of funds and entrepreneurial capability from the largest capital market and most advanced economy in the world were valuable considerations.

Suggested Citation

  • Simon Ville & David Merrett, 2022. "Innovation and Competition," Palgrave Studies in Economic History, in: International Business in Australia before World War One, chapter 0, pages 153-174, Palgrave Macmillan.
    • Handle: RePEc:pal:palscp:978-981-19-0481-3_8
    DOI: 10.1007/978-981-19-0481-3_8
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