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  • expansion
    • internal expansion
      • e-commerce
        • sell products via the internet
        • cheaper
        • potential technical problems
      • opening new stores
        • low risk
        • sales can increase
        • extra costs
      • outsourcing
        • pay another firm to do tasks for the business; cheaper, quicker and of better standard
    • external expansion
      • merging
        • joins with a competitor; enlarges market share
        • joins supplier; controls supply, cost and quality of materials
      • taking over
        • takes over competitor; enlarges market share
      • diversifying
        • takeover or merge with a completely unrelated firm
    • organic growth
      • franchising


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