The theory of the growth of the firm /
Provides several concepts for understanding business and industrial organization. This work focuses on teams and organizational knowledge, underlining contemporary discussion of 'organizational competences'.
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| Format: | eBook |
| Language: | English |
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Oxford :
Oxford University Press,
1995.
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| Edition: | 3rd ed. |
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| Online Access: | Connect to the full text of this electronic book |
Table of Contents:
- Intro
- Table of Contents
- Foreword by Edith Penrose (1995)
- Preface
- Chapter
- I: Introduction
- The purpose of the study and the nature of the argument
- II: The Firm in Theory
- Different ways of looking at firms
- The firm in the theory of price and production
- Limits to size
- The 'firm' is not a firm
- The firm as an administrative organization
- The function and nature of an industrial firm
- Size and administrative coordination
- Industrial firms and investment trusts
- Continuity in the 'history' of a firm
- The firm as a collection of physical and human resources
- The motivation of the firm
- The profit motive
- Long-run profits and growth
- III: The Productive Opportunity of the firm and the 'Entrepreneur'
- Growth limited by a firm's 'productive opportunity'
- The role of enterprise and the competence of management
- Entrepreneurial versus managerial competence
- The quality of entrepreneurial services
- Entrepreneurial versatility
- Fund-raising ingenuity
- Entrepreneurial ambition
- Entrepreneurial judgment
- The role of expectations in the productive opportunity of the firm
- IV: Expansion Without Merger: The Receding Managerial Limit
- Two basic assumptions
- The nature of the managerial limit on expansion
- The management team
- Release of managerial services
- Growth of managerial services
- The receding limit and the 'static' approach
- The effect of uncertainty and risk
- Uncertainty and information
- Risk and unavoidable uncertainty
- V: 'Inherited' Resources and the Direction of Expansion
- Types of inducement to expand
- The continuing availability of unused productive services
- Indivisibility and the 'balance of processes'
- The specialized use of resources
- Heterogeneity of resources
- Interaction between material and human resources.
- The creation of new productive services
- 'Demand' and the productive resources of the firm
- What is the relevant demand?
- The direction of expansion
- VI: The Economies of Size and the Economies of Growth
- The economies of size
- Technological economies
- Managerial economies
- Economies in operation and expansion
- The economies of growth
- Disappearing versus enduring economies
- VII: The Economics of Diversification
- Efficiency of 'integration'
- Meaning of diversification
- Areas of specialization
- Specific opportunities for diversification
- Importance of industrial research
- The significance of selling efforts
- Importance of a technological base
- Some examples
- The role of acquisition
- The role of competition
- The necessity of continued investment in existing fields
- Full-line diversification
- Competition and diversification into new areas
- Diversification as a solution to specific problems
- Temporary fluctuations in demand
- Permanent adverse changes in demand
- The direction of diversification
- Diversification as a general policy for growth
- Vertical integration
- The firm as a pool of resources
- VIII: Expansion Through Acquisition and Merger
- The corporation and merger
- The economic basis of acquisition
- Personal considerations and special situations
- Critical points in the process of expansion
- The competitive expansion of Alpha
- Where Beta blocks the expansion of Alpha
- Combination
- The purchase and sale of 'businesses' that are not firms
- Economic basis for the sale of a 'business'
- 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 of administrative integration.
- Merger and the dominant firm
- IX The Rate of Growth of Firms Through Time
- Introduction
- Special assumptions
- Measurability
- The fundamental ratio
- Managerial services available for expansion
- Increase in the administrative task with growth
- Impact of changing environmental conditions
- Managerial services required for expansion
- Character of expansion
- Relation to existing activities and market conditions
- Method of expansion
- Changes in the rate of growth with increasing size
- The 'growth curve'
- X The Position of Large and Small Firms in a Growing Economy
- The special position of small firms
- Competitive handicaps, especially finance
- The continued existence of small firms
- Opportunities for growth
- 'Interstices' in a growing economy
- The principle of comparative advantage
- XI Growing Firms in a Growing Economy: The Process of Industrial Concentration and the Pattern of Dominance
- Barriers to entry
- General 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 business activity
- The effect on the interstices of 'natural' limitations on acquisition
- Interstices and the business cycle
- The process of industrial concentration
- Measurement of concentration
- Concentration and growing firms in a growing economy
- Some shaky evidence
- Concentration within industries
- Diversification and industry concentration
- Concentration and dominance
- The continued dominance of large firms
- Conclusion
- Index
- A
- B
- C
- D
- E
- F
- G
- H
- I
- J
- K
- L
- M
- N
- O
- P
- Q
- R
- S
- T
- U
- V
- W
- Y.