Essay topic on “Principles of Management, Part 1”
Please complete the following essay question:
Critically compare the theoretical perspectives and practical implications of Coase (1937)
and Penrose (1959) in terms of their views on (i) the size of firms and (ii) the growth of
1. You should complete this task using and citing all theories and concepts covered in Part
I of this module – Transaction cost theory of the firm (Coase, 1937), Penrose’s the
theory of the growth of the firm (Penrose, 1959), Adverse selection (Akerlof, 1970),
Agency theory (Eisenhardt, 1989), 5 Forces analysis (Porter, 1980), Resource-based
view of the firm (Barney, 1991), vertical integration and diversification.
2. You should complete this task using relevant organizational examples.
3. Please note that this task is NOT a descriptive summary of those theories (e.g.,
summary of theory A, then theory B, then theory C…..). Rather, those theories should
be used and cited systematically in your discussion and analysis of key theoretical
perspectives and practical implications initiated by Coase (1937) and Penrose (1959).
Key points to remember
(1) Your essay should be submitted online.
(2) Please see SFM Assessment Guidelines, for information about the
regulations relating to coursework (submission, late submission, plagiarism and word count).
(3) The deadline date and time for essay submission is on Monday 6 January 2020 at 11.59
(4) Word limit: 3,000 words excluding references.
(1) Please see UG Marking Criteria, for information about the
(1) Try to have a clear and logical structure to your answer. Do not be afraid to use subheadings
to structure your essay.
(2) Please see Referencing guide for information about the suggested referencing systems.
Your essay should acknowledge the source of all ideas and evidence with appropriate
references. Failure to do so constitutes plagiarism.
Akerlof, G.A. (1970) ‘The market for “lemons”: qualitative uncertainty and the market mechanism’,
Quarterly Journal of Economics, 84 (3): 488-500.
Barney, J. (1991) ‘Firm Resources and Sustained Competitive Advantage’, Journal of Management,
17 (1): 99-120.
Coase, R. (1937) ‘The nature of the firm’, Economica, 4(16): 386-405.
Penrose, E. (1959) The theory of the growth of the firm, New York: Oxford University Press.
Eisenhardt, K.M. (1989) ‘Agency Theory: An Assessment and Review’, Academy of Management
Review, 14(1): 57-74.
Porter, M. (1980) Competitive Strategy, New York: Free Press, Ch1 (pp. 3-32).
Type of service: Academic paper writing
Type of assignment: Writing from scratch
Pages / words: 5 / 1400
Number of sources: 2
Academic level: Undergraduate
Paper format: APA
Line spacing: Double
Language style: US English
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