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Edith Penrose’s Organizational Theory of the Firm: Contract, Conflict, Knowledge and Management

In: Organizations as Knowledge Systems

Author

Listed:
  • Christos Pitelis

Abstract

In 1959 Edith Penrose published The Theory of the Growth of the Firm (TGF). This book marked the first attempt by an economist to examine the internal workings of firms, in order to explain endogenous knowledge creation, innovation and firm growth. Penrose saw the external environment as an ‘image’ in the minds of management, and suggested a dynamic interaction between the internal and external environments, which defined what she called firms’ ‘productive opportunity’. She placed particular importance on human resources — in particular management — and saw managerial constraints as limiting the rate of growth of firms, albeit not their size per se.

Suggested Citation

  • Christos Pitelis, 2004. "Edith Penrose’s Organizational Theory of the Firm: Contract, Conflict, Knowledge and Management," Palgrave Macmillan Books, in: Haridimos Tsoukas & Nikolaos Mylonopoulos (ed.), Organizations as Knowledge Systems, chapter 10, pages 238-251, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52454-5_11
    DOI: 10.1057/9780230524545_11
    as

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