Edith Penrose's legacy to the resource-based view

Andy Lockett
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Andy Lockett: Nottingham University Business School, Nottingham, UK, Postal: Nottingham University Business School, Nottingham, UK

Managerial and Decision Economics, 2005, vol. 26, issue 2, pages 83-98

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.

Date: 2005
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Persistent link: http://EconPapers.repec.org/RePEc:wly:mgtdec:v:26:y:2005:i:2:p:83-98

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