Title: International diversification and economic development in a regional context: a dynamic capabilities approach

Authors: Abel Duarte Alonso; Seng Kok; Michelle O'Shea

Addresses: School of Management, Curtin Business School, Curtin University, BL 402, Kent St., Bentley, 6102 WA, Australia ' Liverpool Business School, Liverpool John Moores University, Redmonds Building Brownlow Hill, Liverpool, L3 5UG, UK ' School of Business, Western Sydney University, Locked Bag 1797, Penrith South DC, NSW 2571, Australia

Abstract: This exploratory study proposes a theoretical framework grounded on the dynamic capabilities approach to facilitate understanding of the role of managerial resources and dynamic capabilities in international diversification (ID) initiatives in a changing business environment in the context of Western Australia (WA). Data were gathered through interviews with representatives of this state's chambers of commerce, government agencies and town halls. While the identified ID strategies will not replace the state's ubiquitous mining industry, these were nevertheless perceived as significant contributors to its future economic performance. The strategies primarily emphasised the potential and value of further developing tourism, international education, innovative and technological resources, and premium agricultural products. The proposed framework provides an interpretative and guiding tool, which highlights the strategic importance of a region's alternative resources as contributors to its diversification, economic development, and competitive advantage. In addition, the study will discuss various implications from the findings and identify future research strands.

Keywords: dynamic capabilities; country/region attractiveness; economic potential; Western Australia.

DOI: 10.1504/JIBED.2020.106182

Journal for International Business and Entrepreneurship Development, 2020 Vol.12 No.2/3, pp.122 - 141

Received: 11 Jun 2019
Accepted: 12 Jun 2019
Published online: 01 Apr 2020 *

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