Business · Topic 2: Building a business
Growing the business
How and why businesses grow, how their aims change as they do, how globalisation opens up new markets and new competition, and the ethical and environmental choices that growth brings.
Lessons
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1
Business growth
Businesses grow in two ways: organically, from within, or externally, by merging with or taking over other businesses. Growth often means becoming a public…
9 terms -
2
Changes in business aims and objectives
A business's aims do not stay the same. As it grows, and as the world around it changes, its objectives shift - from survival to growth, from one market to…
6 terms -
3
Business and globalisation
Globalisation means the world's economies are becoming more connected. Businesses import and export, move production abroad and become multinationals - and…
7 terms -
4
Ethics, the environment and business
As businesses grow, they face bigger choices about doing the right thing: how they treat workers and suppliers, and what they do to the environment. Behaving…
7 terms
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- Business growth.pptx Built from the lesson script on 27 September 2026. View
- Business growth - Completed Notes.docx The full notes for the lesson, to revise from. Built from the lesson script on 27 September 2026. View
- Business growth - Exam Questions.docx Built from the lesson script on 27 September 2026. View
- Changes in business aims and objectives.pptx Built from the lesson script on 27 September 2026. View
- Changes in business aims and objectives - Completed Notes.docx The full notes for the lesson, to revise from. Built from the lesson script on 27 September 2026. View
- Changes in business aims and objectives - Exam Questions.docx Built from the lesson script on 27 September 2026. View
- Business and globalisation.pptx Built from the lesson script on 27 September 2026. View
- Business and globalisation - Completed Notes.docx The full notes for the lesson, to revise from. Built from the lesson script on 27 September 2026. View
- Business and globalisation - Exam Questions.docx Built from the lesson script on 27 September 2026. View
- Ethics the environment and business.pptx Built from the lesson script on 27 September 2026. View
- Ethics the environment and business - Completed Notes.docx The full notes for the lesson, to revise from. Built from the lesson script on 27 September 2026. View
- Ethics the environment and business - Exam Questions.docx Built from the lesson script on 27 September 2026. View
Key terms in this chapter
All 29, gathered from every lesson.
- Organic growth
- Growth from within, by expanding the business's own activities.
- External growth
- Growth by joining with another business, through a merger or takeover.
- Merger
- When two businesses agree to join together to form one business.
- Takeover
- When one business buys control of another.
- Innovation
- Turning new ideas into new products or processes.
- Research and development (R&D)
- Investigating and developing new products and processes.
- Public limited company (PLC)
- A company whose shares can be sold to the general public.
- Stock market flotation
- When a company first sells its shares to the public on the stock market.
- Economies of scale
- The fall in cost per unit as a business grows.
- Aim
- A general, long-term goal a business wants to achieve.
- Objective
- A specific, measurable target that helps a business achieve its aim.
- Profit maximisation
- Aiming to make as much profit as possible.
- Market share
- The percentage of total sales in a market made by one business.
- Sustainability
- Operating in a way that does not harm the environment or use up resources for future generations.
- Redundancy
- When an employee loses their job because it is no longer needed.
- Globalisation
- The process by which the world's economies are becoming increasingly connected.
- Import
- A good or service bought from another country.
- Export
- A good or service sold to another country.
- Multinational company (MNC)
- A business with its headquarters in one country that operates in several countries.
- Tariff
- A tax on imported goods.
- Trade bloc
- A group of countries that trade freely with each other, with few or no tariffs between them.
- Free trade
- Trade between countries without barriers such as tariffs.
- Ethics
- Moral principles about what is right and wrong.
- Ethical business
- A business that does what is morally right, not just what is legal.
- Fair trade
- A scheme guaranteeing farmers in poorer countries a fair price for their products.
- Supply chain
- All the businesses involved in making a product and getting it to the customer.
- Sustainability
- Meeting today's needs without harming future generations' ability to meet theirs.
- Carbon footprint
- The amount of carbon dioxide produced by a business's activities.
- Pressure group
- An organised group that tries to change the behaviour of businesses or the government.