Business Studies Year 13 revision Day 2 - Types of Growth
On day 2 of the Year 13 recap we take a look at the different types of growth that a business can generate.
A business can internally generate growth via their own expansion plans. Organic growth can come from increased production scale, increased store numbers or increased business capacity. All these factors are within the company’s control and therefore the direction of growth is influenced by the strategic direction of the company. However, often internal growth can involve significant time lags and therefore sometimes businesses will decide to externally grow. This form of growth involves merging with another company or integrating with another business in the wider supply chain. Different businesses within different industries will have their own perception of what is the optimal growth strategy and you need to be able to assess the consequences of each type of growth on a business.
Here Jack guides you through the revision slide on the different types of business growth: