Learning objectives
Assess how well number of employees, revenue, capital employed, market share and market capitalisation measure the size of a particular business.
Evaluate life as a small business, including the particular strengths and weaknesses of family firms, and explain why small firms matter to the economy and survive alongside large ones in many industries.
Explain why and how a business grows organically through new outlets, products or markets financed from retained profit or borrowing.
Distinguish horizontal, vertical (backward and forward) and conglomerate integration, and a friendly merger from a hostile takeover.
Analyse the effects of a merger or takeover on stakeholders and explain why many fail to deliver their objectives.
Explain why joint ventures and strategic alliances are used as lower-risk routes to external growth.
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