business growth Flashcards
Whats business growth?
a business deciding to increase market share, sales,gain competitive advantage
Whats internal growth
A business increasing revenue, sales and profits.
what is external growth
a business increasing its size by buying another business
Advantages of internal growth
less risk than external, can be financed through retained profits.
Disadvantages of internal growth
Process may be slow, hard to build market shares.
advantages of external growth
faster growth, speeds up access ti different products and increase market share.
disadvantages of external growth
some businesses may not want to sell their business,
How can you measure a business growth/success
The increase in sales, profits, asking customers opinions, good feedback, meeting objectives
