Small & Large Firm Flashcards
1
Q
How can you measure a firm ?
A
Number of employees
Turnover
Balance sheet total
2
Q
Advantage & Disadvantage of Small firm
A
Advantage ;
Flexibility
Innovation
Personal Service
Lower wage cost
Better communication
Disadvantage ;
Lack of finance
Vulnerability
Higher cost
Difficult attracting staff
3
Q
Factors affecting the growth of a firm
A
EOS
Access to finance
Government regulation
4
Q
Reasons why firms stay small
A
Size of the market
Lack of finance
DEOS
Aims of the entrepreneur
