2015 Volume 14 Issue 3 Pages 127-135
The strategic theory of resource-based view (RBV) put Penrose (1959) in the spotlight. The key to understanding Penrose's assertion is the concept of economies of growth independent of economies of size. According to Penrose, even when economies of size are not working, economies of growth exist regardless of size. Further, the economies of growth are temporary in nature and disappear once expansion is completed. In which managerial services are the economies of growth embodied? This paper hypothesizes that the economies of growth occur where there are unused start-up expert managerial services. Regardless of size, where these services exist, paving the company's way by step-by-step growth should produce profits.