Business Growth 0.0 / 5 ? Business StudiesMethods to grow a businessGCSEAll boards Created by: warby03Created on: 10-07-19 10:40 Business Growth gaining power and recognition, reaching aims, objectives and goals 1 of 10 Internal Growth a business increases sales of it's own products through promotion, expanding stores .ect. 2 of 10 External Growth joining with other business' (merging) to speed up the growth 3 of 10 Market Share percentage of total sales in the overall market the business' product has 4 of 10 Econonmies of Scale reducing cost per unit due to size 5 of 10 4 Types of Economies of scale Purchasing, Technical, Administration, Financial 6 of 10 Purchasing reduces cost per item by buying in bulk 7 of 10 Technical big businesses buy better machines leading to faster and more reliable prodction 8 of 10 Administration cost of reception/offices spread over more sales 9 of 10 Financial big businesses can get cheaper loans and issues shares 10 of 10
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