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Business:
UNIT 1:
organic growth
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amelia ali
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Cards (8)
Organic
growth
Internal
growth
Methods of organic growth
Franchise
E-commerce
Outsourcing
Opening new stores
Franchise
allowing other companies to use your name, logo and products in exchange for a share of the revenue eg. McDonalds
e-commerce
when a business sets up their website to sell their product but also sell their product in store eg. JD
Outsourcing
paying another company to do the some of the work for you eg. Producing its products
Opening new stores
Attracts more
interest
to the business and gains more customers and potential
investors
Economies of scale
Trying to grow a
business
but still trying to save
money
at the same time
The benefits of growing a
business
Diseconomies of scale
The costs that increase when expanding your business, for example,
employees
and
bills
The
drawbacks
of growing a business