growth

Question 1

name 2 retailers and how they started

Answer 1

marks and spencer-market stall in Leeds

boots-chemist shop in Nottingham

Question 2

give 5 ways a business can grow

Answer 2

extend its range of products, employ more workers, selling the same products in the same/different shops, open new stores or distribution channels

Question 3

give the definition of acquisition

Answer 3

growth method which involves taking over another business either selling the same products or different goods and services

Question 4

what is growth based on

Answer 4

reinvesting profits, which will reduce short term profits but leading to greater market dominance in the longer term that can lead to greater profits

Question 5

what is diversification

Answer 5

selling more of the same products in different markets and selling different products in different markets