LO5 Business Growth

Which of the following is a component of internal growth?

• Mergers

• Developing new products

• Joint Ventures

• Takeovers

What is an example of external growth?

• Updating current products

• Entering new markets

• Mergers

• Geographical Expansion

Which of the following is related to efficiencies and costs?

• Economies of Scale

• Geographical Expansion

• Joint Ventures

• Sensitivities

What is a challenge of growth mentioned in the checklist?

• Developing new products

• Additional Human Resource Requirements

• Mergers

• Economies of Scale

What is internal growth in a business context?

• Expanding by acquiring other companies

• Expanding using its own resources

• Reducing the workforce to cut costs

• Outsourcing production to other countries

Which of the following businesses is known for expanding by offering new products or services?

• Dyson

• McDonald's

• Facebook

• Red Bull

Why do businesses aim to grow internally?

• To reduce their market share

• To attract more customers and become more successful

• To decrease their product range

• To limit their resources

What is one way a business can grow according to the text?

• By reducing product prices

• By developing new products

• By hiring more employees

• By closing old branches

What can developing new products lead to, as mentioned in the text?

• Decreased market competition

• Reduced customer base

• Increased revenue and profitability

• Lower product range

What is an example given in the text for a company expanding internally?

• Apple creating a new product combining iPhone and iPad features

• Samsung reducing the price of the S22

• Microsoft launching a new software update

• Google opening a new office