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Penrose Revisited: A Re-Appraisal of the Resource Perspective

Author

Listed:
  • Iman Seoudi

    (Faculty of Management Technology, The German University in Cairo)

  • Matthias Huehn

    (Faculty of Management Technology, The German University in Cairo)

  • Bo Carlsson

    (Department of Economics, Case Western Reserve University)

Abstract

This paper presents a revision and re-structuring of the Resources/Capabilities/Competences (RCC) perspective, arguably the most important research program in strategy, based on a thorough epistemological analysis and a re-interpretation of Edith Penrose’s 1959 classic. Three distinct schools of thought are identified and differentiated according to a set of dimensions spanning the epistemological, methodological and conceptual domains. The three schools are: 1) The rational-equilibrium school; 2) the behavioral-evolutionary school; 3) the constructionist school. For each school, the pertinent literature is briefly reviewed followed by an in-depth analysis of the underlying theoretical framework. Important implications are drawn for scientific progress in the field.

Suggested Citation

  • Iman Seoudi & Matthias Huehn & Bo Carlsson, 2008. "Penrose Revisited: A Re-Appraisal of the Resource Perspective," Working Papers 14, The German University in Cairo, Faculty of Management Technology.
    • Handle: RePEc:guc:wpaper:14
    as

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    File URL: http://mgt.guc.edu.eg/wpapers/014seoudi_huehn_carlsson2008.pdf
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Epistemology; Resource Based View; Core Competences; Dynamic Capabilities; Strategy;
    All these keywords.

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • L40 - Industrial Organization - - Antitrust Issues and Policies - - - General
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General

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