The management of resources and the resource of management

Mahoney, Joseph T.

doi:10.1016/0148-2963(94)00060-r

Cited by 604 publications

(375 citation statements)

References 97 publications

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“…Second, entrepreneurial experience influences opportunity discovery (e.g., Shane, 2000). However, experience (also) emerges from resource learning, that is, entrepreneurs' learning about the attributes of resources (Mahoney, 1995).…”

Section: Movement Towards the Middle?mentioning

confidence: 99%

Modern Resource-Based Theory(ies)

Foss

Stieglitz

2010

SSRN Journal

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Section: Movement Towards the Middle?mentioning

confidence: 99%

Modern Resource-Based Theory(ies)

Foss

Stieglitz

2010

SSRN Journal

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“…Specifically, strategic planning and implementation of different expansion projects expose the existing managers to various stimuli that allow the managers to develop their managerial repertoires (Huber, 1991;Mahoney, 1995). As a result, existing managers can expand their skills through learning on the job.…”

Section: Penrose's Theory Of the Growth Of The Firmmentioning

confidence: 99%

The dynamics of Japanese firm growth in U.S. Industries: The Penrose effect

Tan

Mahoney

2007

MANAGE. INT. REV.

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This research paper explores the conditions under which a firm is more/less likely to incur the Penrose Effect when expanding in a foreign market. We posit that multinational firms that can accelerate the development of new managerial resources in their foreign operations have greater organizational capabilities to adjust their managerial resources timely in the process of expansion, and thus will be less vulnerable to a severe managerial constraint on the rate of growth. In contrast, factors that impede the development of new managerial resources in foreign operations will prevent multinational firms from growing fast in consecutive time periods. Based on a longitudinal sample of Japanese manufacturing entries in the United States, our empirical results indicate that Japanese firms were able to achieve growth in consecutive time periods when these firms sent more expatriates to the foreign operations at the time of entry, and when these Japanese firms had greater home experience prior to their entry into the U.S. market. On the other hand, Japanese firms were found to be less able to achieve growth in consecutive time periods when a high level of uncertainty characterized the U.S. markets that these Japanese firms entered. AbstractThis research paper explores the conditions under which a firm is more/less likely to incur the Penrose Effect when expanding in a foreign market. We posit that multinational firms that can accelerate the development of new managerial resources in their foreign operations have greater organizational capabilities to adjust their managerial resources timely in the process of expansion, and thus will be less vulnerable to a severe managerial constraint on the rate of growth. In contrast, factors that impede the development of new managerial resources in foreign operations will prevent multinational firms from growing fast in consecutive time periods. Based on a longitudinal sample of Japanese manufacturing entries in the United States, our empirical results indicate that Japanese firms were able to achieve growth in consecutive time periods when these firms sent more expatriates to the foreign operations at the time of entry, and when these Japanese firms had greater home experience prior to their entry into the U.S. market. On the other hand, Japanese firms were found to be less able to achieve growth in consecutive time periods when a high level of uncertainty characterized the U.S. markets that these Japanese firms entered.

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“…Indeed, at all times there exist within every firm a pool of unused productive services of resources, and these, together with the ever-changing vision of entrepreneurs, create unique (subjective) productive opportunities for each firm. A firm's current resources serve as cognitive drivers of future strategy via "resource learning" (Mahoney, 1995).…”

Section: Penrose's "Resource-based" Contribution To a Subjectivist Thmentioning

confidence: 99%

A Subjectivist Theory of Entrepreneurship

Mahoney

Michael

2005

Handbook of Entrepreneurship Research

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The current neoclassical synthesis of economic theory does not contain a role for the entrepreneur and entrepreneurial activity. In this paper we argue that such a role can be reintroduced into the economic foundations of strategy by adopting a subjectivist theory of entrepreneurship. A subjectivist theory focuses on individuals (subjects), on their knowledge, capabilities, and resources, and on the processes of discovery and creativity that constitute the heart of entrepreneurship. To begin the development of a subjectivist theory of entrepreneurship within the context of dynamic resource−based theory, we examine the thought of Edith Penrose (1959) to suggest strategic issues that invite closer examination, and we then conclude with suggested directions for further research. A Subjectivist Theory of Entrepreneurship AbstractThe current neoclassical synthesis of economic theory does not contain a role for the entrepreneur and entrepreneurial activity. In this paper we argue that such a role can be reintroduced into the economic foundations of strategy by adopting a subjectivist theory of entrepreneurship. A subjectivist theory focuses on individuals (subjects), on their knowledge, capabilities, and resources, and on the processes of discovery and creativity that constitute the heart of entrepreneurship. To begin the development of a subjectivist theory of entrepreneurship within the context of dynamic resource-based theory, we examine the thought of Edith Penrose (1959) to suggest strategic issues that invite closer examination, and we then conclude with suggested directions for further research.2

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The management of resources and the resource of management

Cited by 604 publications

References 97 publications

Modern Resource-Based Theory(ies)

Modern Resource-Based Theory(ies)

The dynamics of Japanese firm growth in U.S. Industries: The Penrose effect

A Subjectivist Theory of Entrepreneurship

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