BS1- Business Size And Growth Flashcards
Explain how the number of employees can be used to judge the size of business
Micro - 0-9
Small - 10-49
medium - 50-249
large - 250+
Stage three other factors that can be used to check the size of a business
Turnover
assets
land/office space
Distinguish between a small, medium and large enterprise that is in the EU definitions of business size 
Small - 1-99
medium - 100-499
large - 500+
Explain One reason that the EU measures business size
To be able to group the amount of funding and support they get
Explain how the size of the market fix the size of the business operating within that market
The bigger the market typically bigger the company will need to be
Identify and explain three other factors which affect the size of the business
The demand
the increase in
the amount of physical work needed to be done
Identify two advantages and disadvantages to stakeholders of a large business
Advantages -Employees benefit from the large HR department
-suppliers get a large regular order
Disadvantages- Local community will disliked due to pollution and traffic 
-customers may suffer from higher prices
Explain what is meant by a joint venture in distinguish it from a merger 
Former business arrangement between two or more businesses to complete a task or project together. No change in ownership
Identify three reasons of business might want to undertake a joint-venture
Can double the funding
Brings new ideas to the table
Adds a new contact and supplies 
Explain what is meant by a Strategic alliance and distinguish it from a joint-venture
It is less permanent than a joint-venture, normally when two companies have the same goal
State two benefits of strategic alliance as well as two issues that may occur
Nothing legally binding
Can achieve end goal faster
