Growth of Firms - External Expansion 1.0 / 5 based on 1 rating ? Business StudiesMethods to grow a businessGCSEAQA Created by: elliemaebrennanCreated on: 02-05-16 12:18 1) two main ways of external expansion are: ......... and ....... takeovers ... mergers (M+T) 1 of 15 2) Takeover is when an existing firm ....... by buying another .... expands ... firm 2 of 15 3) Supplier - allows the firm to control the supply, ..... and ....... of its ... materials cost ... quality ... raw 3 of 15 4) Competitor - more ......... of scale and a bigger ...... ..... economies ... market share 4 of 15 5) Customer - greater access to customers. Easier to .... its products. sell 5 of 15 6) Unrelated Firm - ......... into a new market. This ....... the risk of relying on just a few products. diversify ... reduces 6 of 15 7) Less than .... of M+T are .......... Management styles differ. half ... successful 7 of 15 8) Sometimes a takeover bid is ....... and ......... hostile ... unpopular 8 of 15 9) M + T often lead to ....-....... and .......... cost-cutting ... redundancy 9 of 15 10) This can lead to ....... and ........... among workers tension ... uncertainty 10 of 15 11) Franchising ....... increases brand ......... and market share rapidly ... awareness 11 of 15 12) It doesn't have the usual ..... and .... of opening a business costs ... risk 12 of 15 13) By franchising, a firm can achieve greater ......... of ..... economies ... scale 13 of 15 14) benefit - Increased ..... sales 14 of 15 15) benefit - franchisor saves ..... on ..... and other costs because the .......... are run as separate businesses. money ... wages ... franchises 15 of 15
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