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ORGANIC GROWTH

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GCSE BUSINESS - Year 9 Mind Map on ORGANIC GROWTH, created by Carina Storm on 30/09/2018.
Carina Storm
Mind Map by Carina Storm, updated more than 1 year ago
Carina Storm
Created by Carina Storm over 5 years ago
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Resource summary

ORGANIC GROWTH
  1. INTERNAL
    1. INCREASING OUTPUT
      1. Increase quantity of product being produced
        1. Introducing more efficient technology
          1. Building more factory space
            1. Taking on more workers
              1. This can be a quick way of expanding by
                1. Employing more workers if capacity allows it
                  1. Rather than building a new factory as this can be time consuming and will slow down growth
              2. GAINING NEW CUSTOMERS
                1. A business might gain more customers in a number of ways
                  1. Reducing the prices of its products or service
                    1. Opening shops in new places
                      1. Better Marketing
                    2. DEVELOPING NEW PRODUCTS
                      1. New products and services that appeal to a wider range of customers
                        1. E.g. Apple has grown from first producing computers to introducing iPod, iPad, iPhone and the Apple watch
                      2. INCREASING MARKET SHARE
                        1. This means that the business has a greater percentage share of the market.
                          1. E.g. if 1000 tables were sold in a country, and a business sold 100 of those tables, it would have 10 per cent share of the market. If the total number of tables sold rose from 1000 to 2000, the business d have to sell more than 200 tables (10 per cent of 2000) if it were to increase its market share.
                            1. A business might take over a competitor to help achieve higher market share
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