Edith Penrose

Edith Penrose was an influential economist known for her work on how companies grow and develop. She believed that a firm's resources—such as its managers, skills, and knowledge—are the key to its expansion. Penrose argued that organizations grow by effectively utilizing and developing these internal resources over time, rather than just acquiring external assets. Her ideas help explain why some companies expand steadily while others struggle, highlighting the importance of internal capabilities and management in long-term success. Her work has shaped modern theories of business strategy and organizational growth.