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Theme 3
Businesses and Growth
3.1.2 - Business Growth
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Created by
Saberie Mohammad
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Cards (9)
What are the two main types of business growth?
Organic
and inorganic growth
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What is
organic growth
?
Internal
expansion by increasing
output
and customer base
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What is
inorganic growth
?
Expansion via
mergers
and
acquisitions
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What are
economies of scale
?
Reducing per-unit costs through
expansion
and efficiencies
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What are
diseconomies of scale
?
Inefficiencies from over-expansion, such as
communication
and
motivation
issues
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What are some
constraints
on growth?
Market size
, financial limits,
regulations
, and resource shortages
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What are the
motivations
for business growth?
Increase
market share
Achieve
economies of scale
Diversification
Compete
more effectively
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What is the relationship between
business
growth
and economies of scale?
Business growth can lead to economies of scale
Economies of scale reduce
per-unit costs
However, growth can also lead to
diseconomies
of
scale
if over-expansion occurs
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What does the
summary of business growth
entail?
Involves
expanding
market presence and capabilities
Can be achieved organically or inorganically
Provides benefits like
economies of scale
Poses challenges like
diseconomies of scale
and
growth constraints
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