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The Theory of the Growth of the Firm$
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Edith Penrose

Print publication date: 1995

Print ISBN-13: 9780198289777

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198289774.001.0001

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The Productive Opportunity of The Firm and The ‘Entrepreneur’

The Productive Opportunity of The Firm and The ‘Entrepreneur’

(p.31) Chapter III The Productive Opportunity of The Firm and The ‘Entrepreneur’
The Theory of the Growth of the Firm

Edith Penrose

Oxford University Press

This chapter examines the nature of ‘enterprise’ and indicates its significance and role in the analysis. Enterprise or ‘entrepreneurship’ is a difficult concept to work into formal economic analysis, given its close association with the temperament or personal qualities of individuals. This personal aspect of the growth of individual firms is considered one of the obstacles to developing a general theory on the growth of firms.

Keywords:   entrepreneurship, enterprise, firms, theory of growth

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