This paper proposes a model of strategic evolution as a sequence of intentional recombinations of a company's "Core Micro-strategy" with new resources and organizational routines. A Core Micro-strategy is defined here as the established system of interconnected routines, micro-activities and...

Edith Penrose's theory of firm growth postulates that a firm's current growth rate will be influenced by the adjustment costs of, and changes to a firm's productive opportunity set arising from, previous growth. Although she explicitly considered the effect of previous organic growth on current...

In this article, we use the theory of planned behaviour to develop a model of small business managers' growth aspirations and the level of growth achieved. We empirically test this model on a large longitudinal data set of small firms using hierarchical regression. Consistent with previous...