1.6 business growth
- Created by: hanfa
- Created on: 14-04-21 19:40
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- 1.6
- organic growth
- increasing output: using resources more efficiently, using up spare capacity, increasing capacity of business like opening more stores
- gaining new customers: reducing its prices, opening new shops in new areas, better marketing
- increasing market share: increasing its own sales, taking business from other firms
- developing new products: researching and developing, copying ideas of other businesses, buying ideas from other businesses
- external growth:
- horizontal growth: the producer it at the same stage
- forward vertical growth: the producer is at a later stage in production
- backwards vertical growth: the producer is at an earlier stage in production
- diversification: the producer is an unconnected line of business
- takeover: where a business takes a controlling interest in another business for example buying more than 50% shares of the business
- merger: when two or more businesses agree to become one business
- organic growth
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