This study looks at the differences in management development initiatives of multinational corporations and domestic firms in Metro Manila, Philippines. Consistent with the resource-based view of the firm, management development initiatives are positively associated with perceived organizational performance. In addition, the study provides empirical evidence of the convergence of resource-based view and institutional theory in explaining the higher investment of multinational companies in management development. Moreover, the resemblance of substantive nature of management development provides moderate empirical support of the mimetic dynamics operating in the environment.