The Theory of the Growth of the Firm

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

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