Edith Penrose's legacy to the resource‐based view

Andy Lockett

89 citations0/0 files storedManagerial and Decision Economics

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Innovation and Knowledge Management Entrepreneurship Studies and Influences Management and Organizational Studies

Abstract

Abstract In this paper I argue that Edith Penrose's work anticipated the modern approach to strategy in general, and the RBV in particular. Building on the central tenets of Penrose's arguments—that firms are heterogeneous, which is the result of their path dependency—the paper demonstrates how her writings can be used to explain the latest developments of the RBV. Furthermore, the paper argues that many of the insights scholars require to take the RBV forward are still available to those willing to re‐visit her writings. Simply stated: Her legacy endures. Copyright © 2005 John Wiley & Sons, Ltd.

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References

1984Case Study Research: Design and Methods 1991Firm Resources and Sustained Competitive Advantage 1991Case Study Research: Design and Methods 2004Firm resources and sustained competitive advantage 1963The Structure of Scientific Revolutions 1997Dynamic capabilities and strategic management 1984A resource‐based view of the firm 1963The Structure of Scientific Revolutions

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