15357513
Description
Mind Map by Carina Storm, updated more than 1 year ago
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Created by Carina Storm
over 5 years ago
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ORGANIC
GROWTH
- INTERNAL
- INCREASING
OUTPUT
- Increase quantity of
product being produced
- Introducing more efficient technology
- Building more factory space
- Taking on more workers
- This can be a quick way of expanding by
- Employing more
workers if capacity
allows it
- Rather than building a
new factory as this can
be time consuming and
will slow down growth
- Employing more
workers if capacity
allows it
- Introducing more efficient technology
- Increase quantity of
product being produced
- GAINING NEW
CUSTOMERS
- A business might gain
more customers in a
number of ways
- Reducing the prices of its
products or service
- Opening
shops in new
places
- Better Marketing
- Reducing the prices of its
products or service
- A business might gain
more customers in a
number of ways
- DEVELOPING
NEW PRODUCTS
- New products and services that
appeal to a wider range of customers
- E.g. Apple has grown from first
producing computers to introducing
iPod, iPad, iPhone and the Apple watch
- E.g. Apple has grown from first
producing computers to introducing
iPod, iPad, iPhone and the Apple watch
- New products and services that
appeal to a wider range of customers
- INCREASING
MARKET SHARE
- This means that the business
has a greater percentage
share of the market.
- 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.
- A business might take over a
competitor to help achieve
higher market share
- A business might take over a
competitor to help achieve
higher market share
- 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.
- This means that the business
has a greater percentage
share of the market.
- INCREASING
OUTPUT
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