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Routines, capabilities and the growth of the firm: Messrs. Ross & Glendining, Dunedin, 1862–1900
Author(s) -
Jones S. R. H.
Publication year - 2002
Publication title -
australian economic history review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.493
H-Index - 16
eISSN - 1467-8446
pISSN - 0004-8992
DOI - 10.1111/1467-8446.00021
Subject(s) - adaptation (eye) , business , core (optical fiber) , knowledge management , biology , process management , management , engineering , computer science , economics , neuroscience , telecommunications
Evolutionary economists have suggested that the technical and organisational routines of individual firms play a similar role to genes in biological organisms. Unlike biological organisms, however, firms are supposedly able to engage in purposive adaptation and select out those routines that best enable them to adapt and grow in a changing environment. This thesis is tested by examining the way in which routines assisted the growth of a leading New Zealand enterprise. It concludes that while routines were helpful in enabling the enterprise to expand its core business, they were of little assistance when the management wished to diversify into new and dissimilar activities.