“Difficulties arise when an attempt is made to acclimatize the theory to an alien environment and, in particular, to adapt the analysis of the expansion of the innovating multi-product, ‘flesh and blood’ organisations that businessmen call firms.”

—  Edith Penrose

Source: The Theory of the Growth of the Firm, 1959, p. 13

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Edith Penrose7
economist 1914–1996

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