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Growth and evolution - Coggle Diagram
Growth and evolution
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Internal growth
occurs when a business grows organically, using its own capabilities and resources to increase the scale of its operations and sales revenue.
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External growth
External growth (or inorganic growth) occurs through dealings with outside organizations rather than from an increase in the organization's own business operations.
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Methods
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Joint ventures
occurs when two or more businesses split the costs, risks, control and rewards of
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Strategic alliances
similar to a joint venture in that two or more businesses cooperate in a business venture for mutual benefit.
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Economies of scale
to lower average cost of production as a firm operates on a larger scale due to an improvement in its productive efficiency.
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