British economist John Dunning, who became known for developing the 'eclectic paradigm', suggested the following elements of advantage:

Question

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John Dunning's eclectic paradigm suggests that for a company to engage in foreign direct investment, it must have advantages in three key areas: ownership (O), location (L), and internalisation (I). These elements explain why companies choose to invest abroad and how they benefit from such investments.

British Economist John Dunning, Who Became Known for Developing the 'Eclectic