Managing Change (Edexcel A-Level Business): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
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Practise the cards
10 cards from this deck
Two main pathways for business growth
Two main pathways for business growth
Internal growth (gradual) & external growth (mergers/takeovers)
Economies of scale
Economies of scale
Lower unit costs, brand recognition, financial security from growth
Gearing in business finance
Gearing in business finance
Proportion of debt to equity financing
Negative externalities from business expansion
Negative externalities from business expansion
Traffic, noise, pollution, road damage affecting local communities
Capacity utilization
Capacity utilization
% of maximum possible output actually being produced
PESTLE framework stands for
PESTLE framework stands for
Political, Economic, Social, Technological, Legal, Environmental
First-movers advantage
First-movers advantage
Firms that respond quickly to changes capture market share first
Transformational leadership
Transformational leadership
New leaders bring fresh vision & ideas that reshape the business
Business cycle
Business cycle
Economies cycle through periods of boom & recession
Three types of ownership change
Three types of ownership change
Flotation, mergers, acquisitions