The organisational factor and the growth of firms

摘要

The paper analyses the role played by the 'managerial factor' in conditioning the rhythm and intensity of firms' growth. It argues that growth has to be intended as a measure of the capability of the firm to successfully cope with the problems arising from increasing complexity. According to a Penrosean perspective, such a capability may be bounded at any given time by a lack of those (internal) managerial resources which provide the firm with a set of 'uniquely valuable' services, and which create a differential advantage over its competitors. In a 'dynamic capabilities' view, such advantages need to be continuously modified through a process of search and selection. This has assumed peculiar relevance in the face of the 'hyper-competition' regime characterising the more recent phase of industrial development, asking firms' executives to develop an increasing ability to find creative solutions to continuously moving targets, therefore making the management function a key driver to change.