Enterprise, Business Growth and Size

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Entrepreneur
A person who organises, operates, and takes the risk for a new business venture.
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Business Plan
The objectives and details of the operation, finance and owners of a new business.
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Capital Employed
The total value of capital used in a business.
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Internal Growth
The business expands its existing operation-- e.g. a retailer opening more shops.
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External Growth
The business expands by merging with/taking over another business.
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Merger
The owners of a business agree to join their firms together to form one business.
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Horizontal Integration
The business integrates with another in the same industry at the same stage of production e.g. 2 fashion shops.
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Vertical Integration
The business integrates with another in the same industry but a different stage of production-- towards the suppliers is backward vertical integration, but towards market/customer is forward vertical integration
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Conglomerate Integration/ Diversification
The business integrates with another but in a different industry such as an insurance company integrating with a food processing business.
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Other cards in this set

Card 2

Front

The objectives and details of the operation, finance and owners of a new business.

Back

Business Plan

Card 3

Front

The total value of capital used in a business.

Back

Preview of the back of card 3

Card 4

Front

The business expands its existing operation-- e.g. a retailer opening more shops.

Back

Preview of the back of card 4

Card 5

Front

The business expands by merging with/taking over another business.

Back

Preview of the back of card 5
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