Penrose, Edith

Edith Penrose was a British economist and scholar renowned for her work on the growth of firms and organizational development. Her seminal idea, the "Penrose Growth Theory," suggests that a company's resources and managerial expertise are key drivers of sustainable growth, rather than external market factors alone. She emphasized that firms expand by effectively utilizing their internal resources and capabilities, which develop over time. Penrose's insights help explain how companies evolve, innovate, and maintain competitive advantages through internal development, making her a foundational figure in strategic management and organizational theory.