Size Structure of Frims
7 important questions on Size Structure of Frims
The reasons for organisational growth:
- A managerial objective (greater security and higher remuneration).
- Market in which the business operates is expanding and growth is necessary to maintain market share.
- Growth enables firms to diversify into other markets, which means that risk can be spread further.
- Industries that are capital intensive will of necessity be composed of large firms.
- In the area of product development (research and development).
- Growth could be pursued as a defensive strategy.
Advantages of internal growth:
- The company grows within the existing structure of management; there are none of the problems of bringing together two different management systems.
- There might also be economies of scale from building a bigger plant that might not be available when companies merger and plant size does not change
A horizontal merger
Advantages:
- To benefit from economies of scale.
- Greater market share.
- Rationalisation of output.
- Reaction to competitors.
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Reason for growth in the small-firm sector
· Changes in consumer spending habits.
· Flexible specialization and the growth of subcontracting.
· Reorganisation and job reduction.
· Government policy.
· The growth in self-employment.
· Technological change.
· Competitive forces.
- The mix of these and the combination of industries that exists to produce them is called the industrial structure of a country.
Four factors of production
- Capital
- Land
- Labour
- Entrepreneurship
The life cycle model
Causes of the changes in industrial structure
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