3.9

Question 1

What is Organic Growth

Answer 1

Internal Growth

Question 2

What does Merger mean?

Answer 2

2 Businesses joining together because they believe they can achieve greater profits and achieve other goals

Question 3

What is Intrapreneurship?

Answer 3

Its When large firms enable employees and managers to demonstrate entrepreneurial behaviour in their work to the benefit of their employer

Question 4

What is Benchmarking?

Answer 4

Evaluating the current position of the Business in relation to best practice

Question 5

Give 2 Drawbacks of Benchmarking

Answer 5

Encourages firms to just copy ideas

Lack of belief from staff: may be demoralised by the challenge of achieving a new level of innovation

Question 6

What Is Offshoring?

Answer 6

Relocation of Business activities from the businesses country of origin to a new location

Question 7

What’s the difference between outsourcing and offshoring?

Answer 7

Outsourcing is changing the company who does the work whereas Offshoring is changing the place where work is done

Question 8

Give 3 Pro’s to Offshoring

Answer 8

Manufacturing Cost Decreasing
Better skilled staff
Better Quality

Question 9

Give 3 Con’s of Offshoring

Answer 9

Longer lead times for supplies
communication issues
Additional management Costs