Context B is a domain for venturing behavior in international firms where managers in overseas subsidiaries are the driving force for venturing and where the company’s own resources and capabilities are leveraged in order to accomplish the change and rejuvenation sought by those managers. When we look at venturing in international firms in this context we emphasize: (1) a role for overseas subsidiary managers in recognizing, assessing and choosing new strategic options as a response to opportunities that they come across; and (2) the use of pre-existing internal resources and capabilities (some of which may reside in the focal subsidiary, some of which may reside in other units of the firm) in new ways to seize new opportunity. This context arises for the MNE because entrepreneurial competences get dispersed throughout numerous locations around the world as a result of the firm’s internationalization.