The Theory of the Growth of the Firm
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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The Firm in Theory
The Productive Opportunity of the Firm and the Entrepreneur
Expansion Without Merger The Receding Managerial Limit
Inherited Resources and the Direction of Expansion
The Economies of Size and the Economies of Growth
The Economics of Diversification
Expansion Through Acquisition and Merger
The Rate of Growth of a Firm Through Time
The Position of Large and Small Firms in a Growing Economy
Growing Firms in a Growing Economy The Process of Industrial Concentration and the Pattern of Dominance
Foreword to the Third Edition
ability acquiring firm acquisition administrative Alpha amount of expansion analysis areas assets become Beta capital changes companies consumers corporations cost demand discussion diversification economies of growth economists Edith Edith Penrose effect efficient enterprise entrepreneurs entry example existing firms existing products expected extensive external fact factors Federal Trade Commission fields firm’s Fritz Machlup growth of firms important increase individual firm industrial firm innovation integration internal investment Journal kind knowledge labour large firms larger firms limit Management International Review merger merger and acquisition neoclassical economics oligopoly operations opportunity cost organization output particular firm Penrose Penrose’s personnel Pitelis position possible problems process of growth productive opportunity productive services available profitable programme rate of growth reason relation relatively relevant Resource-Based View restrictions risk sell significance small firms smaller Strategic Management technological theory tion uncertainty United Washington D.C.