Understanding Big Business Concepts

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Definition of Big Business

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Large-scale corporate-controlled financial or business activities

Front

Characteristics of Big Business

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High capital, large workforce, extensive market reach

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Monopoly

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Market structure where a single firm dominates

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Oligopoly

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Market dominated by a few large firms

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Economies of Scale

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Cost advantages due to large-scale production

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Conglomerate

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Corporation made up of different, unrelated businesses

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Vertical Integration

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Control of supply chain from production to sale

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Horizontal Integration

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Merging of companies at the same production stage

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Antitrust Laws

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Regulations to prevent monopolies and promote competition

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Corporate Social Responsibility (CSR)

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Business practices involving initiatives that benefit society