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Bussones > 2.1 business growth > Flashcards

2.1 business growth Flashcards

1
Q

Advantages of organic growth

A

Less risk
builds on businesses strengths
grow at sensible rate

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2
Q

disadvantages of organic growth

A

slow
miss opportunities
dependent on market growth

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3
Q

How to target new markets

A

change the marketing mix
set up branches in other countries
use new tech

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4
Q

How to develop new products and its benefit

A

increase sales

need innovation

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5
Q

advantages of inorganic growth

A

reduces competition
international expansion
buying tech
fast

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6
Q

disadvantages of inorganic growth

A

difficult to control
expensive
management problems
clash of cultures

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7
Q

what is economies of scale

A

costs increase slower than output, reductions in average unit cost

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8
Q

why economies of scale happen

A

buy supplies in bulk
more advanced machinery
increased dimensions

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9
Q

what is diseconomies of scale

A

increases in average unit cost

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10
Q

why diseconomies of scale happen

A

harder and more expensive
harder to communicate
product processes are too complex

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11
Q

Advantages of being a plc

A

limited liability
banks more willing to lend money
easier to grow

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12
Q

Disadvantages of being a plc

A

expensive
has to prepare annual accounts
available for competitors to see

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13
Q

advantages and disadvantages of retained profit

A

money you own

once its used its gone

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14
Q

advantages and disadvantages of assets

A

gets rid of unused machinery, already exists

cant sell too many

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15
Q

advantages and disadvantages of loans

A

instant

pay interest

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16
Q

advantages and disadvantages of share capital

A

no interest

share of the profit

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17
Q

advantages and disadvantages of floating on the stock market

A

generates quick profit

people can out buy your business

18
Q

advantages of tariffs

A

UK produced goods dont pay
protect new businesses from being swamped
raise tax for government

19
Q

disadvantages of tariffs

A

may increase prices for consumer

other countries may raise there tariffs

20
Q

how e commerce helps to globalize

A

can sell in other countries over a website

no need to invest in shops

21
Q

product (globalization)

A

local tastes

22
Q

place(globalization)

A

reliable transportation methods

23
Q

price(globalization)

A

adjusted to foreign wages

24
Q

promotion(globalization)

A

deals to encourage new consumers

25
Q

impact of imports

A

larger market to buy from

more competition

26
Q

impact of exports

A

larger market to sell too

27
Q

impact of business location

A

reduce costs if nearer to raw materials

labor may be cheaper

28
Q

examples of good ethics

A 
Fair trade
pay taxes
good work conditions
recycle
not discriminating
29
Q

examples of sustainability

A

use less packaging
efficient machinery
renewable energy resource

30
Q

advantages of acting ethically

A

might gain customers

stakeholders like ethical behavior

31
Q

disadvantages of acting ethically

A

costly

more difficult to find suppliers

32
Q

advantages of sustainability

A

green image

environmental products

33
Q

disadvantages of sustainability

A

expensive

34
Q

why a business may focus on survival

A

may be struggling again

35
Q

why a business may focus on entering or exiting a market

A

market may be failing

spot an oppurtunite

36
Q

why a business may focus on growing or reducing the workforce

A

want to expand

37
Q

why a business may focus on increasing or decreasing product range

A

gives more choice

38
Q

how market conditions effect objectives

A

new competitors

increase in unemployment

39
Q

how tech effect objectives

A

new production process

40
Q

how legislation affects objectives

A

new laws will change objectives

Bussones (20 decks)

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