Edith Penrose, organisational economics and business strategy: an assessment and extension
The aim of this paper is to expound Penrose's contribution to the theory of the firm, and examine the contribution of her thinking to economics and business strategy, as well as to discuss some limitations and provide some generalizations of Penrose's work. We also discuss implications for managerial practice and public policy. We claim that Penrose's contribution was seminal. In recognizing the significance of organization to generate new knowledge she went well beyond the bounds of even her own agenda; from a theory of the growth of firms, to a theory of the generation of organizational knowledge and beyond. Copyright © 2005 John Wiley & Sons, Ltd.
Volume (Year): 26 (2005)
Issue (Month): 2 ()
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- Alchian, Armen A & Demsetz, Harold, 1972.
"Production , Information Costs, and Economic Organization,"
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American Economic Association, vol. 62(5), pages 777-795, December.
- Armen A. Alchian & Harold Demsetz, 1971. "Production, Information Costs and Economic Organizations," UCLA Economics Working Papers 10A, UCLA Department of Economics.
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- Penrose, Perran & Pitelis, Christos, 1999. "Edith Elura Tilton Penrose: Life, Contribution and Influence," Contributions to Political Economy, Oxford University Press, vol. 18(0), pages 3-22.
- Baumol, William J, 1982. "Contestable Markets: An Uprising in the Theory of Industry Structure," American Economic Review, American Economic Association, vol. 72(1), pages 1-15, March.
- Richardson, G B, 1999. "Mrs Penrose and Neoclassical Theory," Contributions to Political Economy, Oxford University Press, vol. 18(0), pages 23-30.
- Loasby, Brian J, 1999. "The Significance of Penrose's Theory for the Development of Economics," Contributions to Political Economy, Oxford University Press, vol. 18(0), pages 31-45.
- Paul M. Romer, 1994. "The Origins of Endogenous Growth," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 3-22, Winter. Full references (including those not matched with items on IDEAS)
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