Turnover. Number of Employees. Amount of capital employed. Market share.
1 of 6
Go into detail about how to measure the size of a firm
Amount of money taken by a business in a particular period=total revenue. Large firm. Total amount of capital used to make a product. % that a firm has on its market share
2 of 6
Advantages of Small Firms
Flexibility. Personal service. Lower wages. Better communication. Innovation
3 of 6
Disadvantages of Small Firms
Higher cost-can't exploit EoS. Lack of finance. Hard to attract experienced staff. Vulnerability when economy suffers
4 of 6
Advantages of Large Firms
EoS. Market domination. Large-scale production
5 of 6
Disadvantages of Large Firms
Too bureaucratic. Co-ordination and control. Poor motivation due to lack of personal contact
6 of 6
Other cards in this set
Card 2
Front
Go into detail about how to measure the size of a firm
Back
Amount of money taken by a business in a particular period=total revenue. Large firm. Total amount of capital used to make a product. % that a firm has on its market share
Comments
No comments have yet been made