The Theory of the Growth of the Firm
Why do some firms perform better than others? What enables a firm to grow and take advantage of its opportunities?
Currently much discussion of these questions pivots around the ideas of competencies and capabilities, and the concept of the learning organization or knowledge-creating company. The Theory of the Growth of the Firm is a rich and pioneering work that addresses these questions and laid the foundation for this approach often referred to as the "resource based view of the firm." Edith Penrose analyzes managerial activities and decisions, organizational routines, and knowledge creation within the company and argues that they are critical to the ability of a firm to grow.
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THE FIRM IN THEORY
THE PRODUCTIVE OPPORTUNITY OF THE FIRM AND
THE RECEDING MANA
THE ECONOMIES OF SIZE AND THE ECONOMIES OF GROWTH
THE ECONOMICS OF DIVERSIFICATION
THE RATE OF GROWTH OF FIRMS THROUGH TIME
THE POSITION OF LARGE AND SMALL FIRMS IN A GROWING
Some shaky evidence
Diversification and industry concentration
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ability acquiring firm acquisition Alpha amount of expansion analysis areas assets become Beta capital changes Chapter Chester Barnard companies competition consumers corporations cost demand discussion diversification economies of growth economists effect efficient enterprise entrepreneurs entry example existing firms existing products expected extensive external fact factors factors of production Federal Trade Commission fields firm's Fritz Machlup given product growth of firms important increase individual firm industrial concentration industrial firm innovation integration internal interstices investment kind knowledge large firms larger firms limit managerial services required ment merger merger and acquisition Motors Corporation obtain oligopoly operations opportunity cost output particular firm personnel plant position possible problems process of growth productive activities productive opportunity productive services available profitable rate of growth reason reduce relation relatively relevant restrictions risk sell significance small firms smaller technological theory tion uncertainty Unilever United