The Theory of the Growth of the Firm

Front Cover
OUP Oxford, Sep 24, 2009 - Business & Economics - 304 pages
There are not many books that are genuine classics, and only a handful in business and management whose insights and ideas last for 50 years and more. This book is one of the very few 'must reads' for anybody seriously interested in the role of management within the firm. Originally published in 1959, The Theory of the Growth of the Firm has illuminated and inspired thinking in strategy, entrepreneurship, knowledge creation, and innovation. Edith Penrose's tightly-argued classic laid the foundations for the resource based view of the firm, now the dominant framework in business strategy. She analyses managerial activities and decisions, organizational routines, and also the factors that inevitably limit a firm's growth prospects. For this new anniversary edition, Christos Pitelis has written a new introduction which both tells the story of Penrose's extraordinary life, and provides a balanced assessment of her key ideas and their continuing relevance and freshness.
 

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Contents

Introduction by Christos N Pitelis
xiii
The Firm in the Theory of Price and Production
ii
The Productive Opportunity of the Firm and the Entrepreneur
iii
Inherited Resources and the Direction of Expansion
v
The Economies of Size and the Economies of Growth
vi
The Economics ofDiversification Meaning of Diversification Areas of Specialization
vii
Expansion Through Acquisition and Merger
viii
The Necessity of Administrative Integration Merger and the DominantFirm IX The Rate of Growth ofa Firm Through Time Special Assumptions
ix
The Position of Large and Small Firms in a Growing Economy
x
The Process ofIndustrial Concentration and the Pattern of Dominance
xi
Concentration and Dominance The Continued Dominance ofLarge Firms
xxiii
Index
xxxiii
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