Abstract
In the last twenty years, the subject of business history has developed rapidly in the United Kingdom, largely because of the initiatives of major companies in commissioning business histories by professional historians. The histories of Unilever, ICI, W. D. and H. O. Wills, Boots, and Courtaulds1 have set a high standard and now offer to the economic historian a wealth of case study material with which to enrich his analysis of Britain’s recent economic development. Yet there seems to be general agreement that the harvest from these rich possibilities has so far been a limited one. There has been too great a temptation to generalise from the single case, or — it is difficult to see it as the lesser failing — not to generalise at all. The intellectual ‘spinoff’ from business history to economic history and economics has not been as great as might reasonably have been hoped. Yet two works which have attempted to generalise from business history case study material have been widely welcomed by economic historians and social scientists in general. I refer, of course, to Professor Edith Penrose’s Theory of the Growth of the Firm2 and Professor Alfred D. Chandler’s Strategy and Structure. Chapters in the History of Industrial Enter prise.3 The intellectual traffic has thus not all been one-way, from the older disciplines to business history: the historical case study method exemplified in the work of Chandler has made an important contribution to the development of new ideas in the theory of the firm,4 and this prompts legitimate expectations of further generalisations.
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Notes
C. Wilson, The History of Unilever, 2 vols (London, 1954 ).
W. J. Reader, Imperial Chemical Industries: A History, 2 vols (London, 1970, 1975 ).
B. W. E. Alford, W. D. and H. O. Wills and the development of the U.K. Tobacco Industry 1786–1965 (London, 1973).
S. D. Chapman, Jesse Boot of Boots the Chemists (London, 1974 ).
D. C. Coleman, Courtaulds: An Economic and Social History, 2 vols (Oxford, 1969 ).
(Cambridge, Mass., 1962 ). See also R. S. Edwards and H. Townsend, Business Enterprise (London, 1958 ).
Bruce R. Scott, ‘Stages in Corporate Development’, unpublished paper, (Harvard Business School, 1971 ).
e.g. O. E. Williamson, ‘Managerial Discretion, Organisational Form and the Multi-Division Hypothesis’ in R. Marris and A. Wood (eds), The Corporate Economy (London, 1971 ).
For a fuller consideration of the nature of the stochastic process which may determine the growth of firms, see L. Hannah and J. A. Kay, Concentration in Modern Industry: Theory, Measurement and the U.K. Experience (London, 1976).
G. R. Hawke, Railways and Economic Growth in England and Wales 1840–1870 (Oxford, 1970 ), pp. 384–8;
C. H. Feinstein, National Income, Expenditure and Output of the United Kingdom (Cambridge, 1972 ) p. T92.
A classic statement of the importance of structural change in economic growth may be found in I. Svennilson, Growth and Stagnation in the European Economy (Geneva, 1954 ).
I. C. R. Byatt, ‘Electrical Products’, in D. H. Aldcroft (ed.), The Development of British Industry and Foreign Competition 1875–1914 (London, 1968 ).
On American investment generally see J. H. Dunning, American Investment in British Manufacturing Industry (London, 1958 ).
Honourable exceptions include P. Mathias, Retailing Revolution (London, 1967 );
B. Supple, The Royal Exchange Assurance 1720–1970 (Cambridge, 1970 ).
Cf. I. M. D. Little, The Price of Fuel (Oxford, 1953 ).
R. Pryke, Public Enterprise in Practice (London, 1971 ).
see W. B. Reddaway, Effects of U.K. Direct Investment Overseas (Cambridge, 1968).
e.g. W. G. Rimmer, Marshalls of Leeds, Flax-Spinners 1788–1886 (Cambridge, 1960).
A. J. Merrett and M. E. Lehr, The Private Company Today (London, 1971) 67–70. However, outside manufacturing industry, owner- or family-dominated enterprises still played a major role in the postwar era, see S. Aris, The Jews in Business (London, 1970), passim.
Payne, ‘Emergence of the Large-Scale Company in Great Britain’, Economic History Review, xx (1967) 527–36.
L. Hannah, ‘Mergers in British Manufacturing Industry 1880–1918’, Oxford Economic Papers xxvt (1974) pp.13–14.
D. C. Coleman, Courtaulds, An Economic and Social History (Oxford, 1969) II, 264–5.
D. F. Channon, The Strategy and Structure of British Enterprise (London, 1973 ) pp. 25–32.
R. E. Caves (ed.), Britain’s Economic Prospects (Brookings Institution, Washington and London, 1968), passim.
e.g. P. H. Lindert and K. Trace, ‘Yardsticks for Victorian Entrepreneurs’, in D. N. McCloskey (ed.), Essays on a Mature Economy: Britain after 1840 ( London, 1971 ); McCloskey and Sandberg, ‘From Damnation to Redemption’.
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© 1976 Palgrave Macmillan, a division of Macmillan Publishers Limited
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Hannah, L. (1976). Introduction: Business Development and Economic Structure in Britain since 1880. In: Hannah, L. (eds) Management Strategy and Business Development. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-03051-4_1
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