How firms grow and the influence of size and age

The growth process is revealed by tracing the diachronic paths followed by sixty growth firms over the period from 1994 through 2007. Initial employment size, rather than age, was found to have some bearing on the nature of the growth path. Smaller firms grew more often and with more continuity than larger firms. In the larger firms, growth occurred in relatively large isolated steps with little continuity. These findings have important implications for how this vital process is conceptualized and managed.