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Reconceptualising the principles of Penrose’s (1959) theory and the resource based view of the firm

Samantha Burvill Orcid Logo, Dylan Jones-Evans, Hefin Rowlands

Journal of Small Business and Enterprise Development

Swansea University Author: Samantha Burvill Orcid Logo

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DOI (Published version): 10.1108/JSBED-11-2017-0361

Abstract

This article develops a conceptual framework to explain the firm growth process based on an integration and extension, through empirical research, of Penrose’s theory of the growth of the firm and the resource based view. Theoretical development within the firm growth literature has been noticeably...

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Published in: Journal of Small Business and Enterprise Development
ISSN: 1462-6004
Published: 2018
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URI: https://cronfa.swan.ac.uk/Record/cronfa40506
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first_indexed 2018-05-29T19:04:09Z
last_indexed 2019-07-24T15:15:04Z
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spelling 2019-07-24T12:15:32.2353873 v2 40506 2018-05-29 Reconceptualising the principles of Penrose’s (1959) theory and the resource based view of the firm bedfd86256ce4984ab246a3228bb1da2 0000-0003-4893-3371 Samantha Burvill Samantha Burvill true false 2018-05-29 BBU This article develops a conceptual framework to explain the firm growth process based on an integration and extension, through empirical research, of Penrose’s theory of the growth of the firm and the resource based view. Theoretical development within the firm growth literature has been noticeably limited. Firm growth studies use different theoretical bases and what is needed is integration of multiple theories and empirical testing of these to form a new conceptual framework capable of explaining the modern growth process fully.The key perspectives are critically reviewed and integrated and empirical qualitative research is undertaken analysing the process of growth in two firms. Semi-structured interviews, participant observation and analysis of company documentation are utilised.The key insight this research provides is detailed information with regard to which resources, mediators and outputs are vital to firm growth, how they need to be developed and why this is the case. The study shows that these act in a cyclical nature to enable firm growth and development.These findings could be used by practitioners to determine which part of the conceptual framework requires the most amount of improvement and which are developed to an acceptable state, enabling them to make plans for the achievement of growth.This research is able to reconceptualise two dominant theoretical perspectives resulting in the generation of a new firm growth framework, thereby addressing a distinct gap in the firm growth literature. Journal Article Journal of Small Business and Enterprise Development 1462-6004 31 12 2018 2018-12-31 10.1108/JSBED-11-2017-0361 COLLEGE NANME Business COLLEGE CODE BBU Swansea University 2019-07-24T12:15:32.2353873 2018-05-29T15:12:33.1272676 Faculty of Humanities and Social Sciences School of Management - Business Management Samantha Burvill 0000-0003-4893-3371 1 Dylan Jones-Evans 2 Hefin Rowlands 3 0040506-04062018121236.pdf 1JSBED611747AU9366(1).pdf 2018-06-04T12:12:36.7430000 Output 647819 application/pdf Accepted Manuscript true 2018-09-01T00:00:00.0000000 true eng
title Reconceptualising the principles of Penrose’s (1959) theory and the resource based view of the firm
spellingShingle Reconceptualising the principles of Penrose’s (1959) theory and the resource based view of the firm
Samantha Burvill
title_short Reconceptualising the principles of Penrose’s (1959) theory and the resource based view of the firm
title_full Reconceptualising the principles of Penrose’s (1959) theory and the resource based view of the firm
title_fullStr Reconceptualising the principles of Penrose’s (1959) theory and the resource based view of the firm
title_full_unstemmed Reconceptualising the principles of Penrose’s (1959) theory and the resource based view of the firm
title_sort Reconceptualising the principles of Penrose’s (1959) theory and the resource based view of the firm
author_id_str_mv bedfd86256ce4984ab246a3228bb1da2
author_id_fullname_str_mv bedfd86256ce4984ab246a3228bb1da2_***_Samantha Burvill
author Samantha Burvill
author2 Samantha Burvill
Dylan Jones-Evans
Hefin Rowlands
format Journal article
container_title Journal of Small Business and Enterprise Development
publishDate 2018
institution Swansea University
issn 1462-6004
doi_str_mv 10.1108/JSBED-11-2017-0361
college_str Faculty of Humanities and Social Sciences
hierarchytype
hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Business Management{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Business Management
document_store_str 1
active_str 0
description This article develops a conceptual framework to explain the firm growth process based on an integration and extension, through empirical research, of Penrose’s theory of the growth of the firm and the resource based view. Theoretical development within the firm growth literature has been noticeably limited. Firm growth studies use different theoretical bases and what is needed is integration of multiple theories and empirical testing of these to form a new conceptual framework capable of explaining the modern growth process fully.The key perspectives are critically reviewed and integrated and empirical qualitative research is undertaken analysing the process of growth in two firms. Semi-structured interviews, participant observation and analysis of company documentation are utilised.The key insight this research provides is detailed information with regard to which resources, mediators and outputs are vital to firm growth, how they need to be developed and why this is the case. The study shows that these act in a cyclical nature to enable firm growth and development.These findings could be used by practitioners to determine which part of the conceptual framework requires the most amount of improvement and which are developed to an acceptable state, enabling them to make plans for the achievement of growth.This research is able to reconceptualise two dominant theoretical perspectives resulting in the generation of a new firm growth framework, thereby addressing a distinct gap in the firm growth literature.
published_date 2018-12-31T03:51:33Z
_version_ 1763752535173103616
score 11.016593

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