experience curve - a tool used to show the effect of experience on unit cost, franchising - a growth method where a business grants a license to trade under their name, merger - a form of external growth where two or more businesses join together to form one business, takeover - a form of external growth where one business takes control of a smaller business, synergy - when the value of two businesses working together is more than if the businesses operated individually, conglomerate - a combination of firms that are involved in unrelated business activity , joint venture - a form of growth when two or more businesses agree to act collectively to set up a new business, overtrading - when a business expands too quickly and doesn't have the financial support , innovation - when a new product or process is launched with a view to financial gain, intrapreneurship - encouraging employees to take risks in order to achieve growth through innovation, kaizen - Japanese principle for 'continuous improvement' ,

Unit 9

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