The Theory of the Growth of the FirmThere 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
| ix | |
Preface | xlviii |
Introduction | 1 |
The Firm in Theory | 8 |
The Productive Opportunity of the Firm and the Entrepreneur | 28 |
Expansion Without Merger The Receding Managerial Limit | 39 |
Inherited Resources and the Direction of Expansion | 58 |
The Economies of Size and the Economies of Growth | 78 |
The Economics of Diversification | 92 |
Expansion Through Acquisition and Merger | 135 |
The Rate of Growth of a Firm Through Time | 172 |
The Position of Large and Small Firms in a Growing Economy | 189 |
Growing Firms in a Growing Economy The Process of Industrial Concentration and the Pattern of Dominance | 201 |
Foreword to the Third Edition | 234 |
| 245 | |
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Common terms and phrases
ability acquired acquisition activities administrative advantage amount analysis areas attempt become capital changes companies competence competition concentration concerned considerable considered continued corporations cost created demand determine difficulties direction discussion diversification economy effect efficient enterprise entrepreneurs entry established example existing expansion expected experience extensive external fact factors fields firm’s further given growing growth of firms important increase individual industrial innovation integration interest internal investment kind knowledge large firms larger less limit managerial managerial services means measure merger nature necessary obtain operations opportunities organization output particular Penrose period plans plant position possible present problems productive services profitable question rate of growth reason reduce relation relatively restrictions result risk sell sense significance small firms smaller structure successful technological theory tion United whole
Bibliographic information
| Title | The Theory of the Growth of the Firm |
| Author | Edith Penrose |
| Contributor | Christos Pitelis |
| Edition | 4 |
| Publisher | OUP Oxford, 2009 |
| ISBN | 0191623423, 9780191623424 |
| Length | 304 pages |
| Subjects | › › Business & Economics / Economics / Theory Business & Economics / Organizational Behavior Business & Economics / Strategic Planning |
| Export Citation | BiBTeX EndNote RefMan |