The Theory of the Growth of the FirmWhy 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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Page v
... effect of uncertainty and risk Uncertainty and information Risk and unavoidable uncertainty I 9 9 II 12 13 15 15 18 19 22 24 26 29 273 31 31 33 34 35 36 37 39 40 41 43 43 44 45 49 51 55 56 58 60 Chapter page V INHERITED ' RESOURCES AND ...
... effect of uncertainty and risk Uncertainty and information Risk and unavoidable uncertainty I 9 9 II 12 13 15 15 18 19 22 24 26 29 273 31 31 33 34 35 36 37 39 40 41 43 43 44 45 49 51 55 56 58 60 Chapter page V INHERITED ' RESOURCES AND ...
Page vii
... Effect on the process of growth ... The appropriateness of diversification The role of entrepreneurial services Entrepreneurial temperament and the profit motive Empire - building and merger The role of managerial services The necessity ...
... Effect on the process of growth ... The appropriateness of diversification The role of entrepreneurial services Entrepreneurial temperament and the profit motive Empire - building and merger The role of managerial services The necessity ...
Page viii
... effect on investment in the economy as a whole The importance of Big Business ' competition Capital requirements and consumer loyalty Artificial barriers and the interstices Merger in a growing economy Merger in relation to indices of ...
... effect on investment in the economy as a whole The importance of Big Business ' competition Capital requirements and consumer loyalty Artificial barriers and the interstices Merger in a growing economy Merger in relation to indices of ...
Page xvii
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Page xx
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Contents
THE FIRM IN THEORY | 9 |
THE PRODUCTIVE OPPORTUNITY OF THE FIRM AND | 31 |
THE RECEDING MANA | 43 |
Chapter page | 65 |
THE ECONOmies of Size and THE ECONOMIES OF GROWTH | 88 |
THE ECONOMICS OF DIVERSIFICATION | 104 |
Chapter page | 153 |
THE RATE OF GROWTH OF FIRMS THROUGH TIME | 197 |
THE POSITION OF LARGE AND SMALL FIRMS IN A GROWING | 215 |
Chapter page | 229 |
acquisition | 242 |
Some shaky evidence | 250 |
Diversification and industry concentration | 256 |
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Common terms and phrases
ability acquiring firm acquisition Alpha amount of expansion analysis areas assets become Beta capital changes Chapter consumers corporations cost demand discussion diversification economies of growth EDITH PENROSE 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 J. K. Galbraith kind knowledge large firms larger firms limit manufacturing ment merger merger and acquisition 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 Roland Christensen sell significance small firms smaller technological theory tion uncertainty Unilever United