strategic methods 3.9

Cards (8)

growth 
when a business expands in size
organic growth
when a business grows through expanding its own operations
external growth
growth by joining with other businesses
technical economies of scale
when a large scale of operations enables technology to be more efficient lowering unit costs
purchasing economies of scale
buying in large quantities and have more bargaining power over suppliers
managerial economies of scale
bring in specialists to focus on parts of the business
economies of scope
cost savings from operating in several markets or providing several products
synergy
when 2 businesses combined perform better than they did as individual parts