Penrose Revisited: A Re-Appraisal of the Resource Perspective

Iman Seoudi (), Matthias Huehn and Bo Carlsson
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Iman Seoudi: Faculty of Management Technology, The German University in Cairo
Matthias Huehn: Faculty of Management Technology, The German University in Cairo
Bo Carlsson: Department of Economics, Case Western Reserve University

No 14, Working Papers from The German University in Cairo, Faculty of Management Technology

Abstract: This paper presents a revision and re-structuring of the Resources/Capabilities/Competences (RCC) perspective, arguably the most important research program in strategy, based on a thorough epistemological analysis and a re-interpretation of Edith Penrose’s 1959 classic. Three distinct schools of thought are identified and differentiated according to a set of dimensions spanning the epistemological, methodological and conceptual domains. The three schools are: 1) The rational-equilibrium school; 2) the behavioral-evolutionary school; 3) the constructionist school. For each school, the pertinent literature is briefly reviewed followed by an in-depth analysis of the underlying theoretical framework. Important implications are drawn for scientific progress in the field.

Keywords: Epistemology; Resource Based View; Core Competences; Dynamic Capabilities; Strategy (search for similar items in EconPapers)
JEL-codes: B40 L10 L40 O30 (search for similar items in EconPapers)
Pages: 43 pages
Date: 2008-10
New Economics Papers: this item is included in nep-cse
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