The Theory of the Growth of the Firm
Book •
Edith Penrose's 'The Theory of the Growth of the Firm' provides an in-depth analysis of how firms grow and evolve over time.
Published in 1959, the book challenges traditional economic theories by emphasizing the role of internal resources and knowledge in driving firm expansion.
Penrose argues that firms grow by leveraging their unique capabilities and entrepreneurial opportunities.
The book introduces the concept of 'managerial services' as a critical resource that enables firms to coordinate and exploit new investment opportunities.
'The Theory of the Growth of the Firm' has had a lasting impact on strategic management and organizational economics, influencing subsequent research on resource-based view and dynamic capabilities.
Published in 1959, the book challenges traditional economic theories by emphasizing the role of internal resources and knowledge in driving firm expansion.
Penrose argues that firms grow by leveraging their unique capabilities and entrepreneurial opportunities.
The book introduces the concept of 'managerial services' as a critical resource that enables firms to coordinate and exploit new investment opportunities.
'The Theory of the Growth of the Firm' has had a lasting impact on strategic management and organizational economics, influencing subsequent research on resource-based view and dynamic capabilities.
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Robert Burgelman
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