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Key Terms

Published on Nov 24, 2015

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Key Terms

Business Studies 
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Organic growth- expansion from within the business (eg. opening more branches of your shop)

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Inorganic growth- expansion by merging with or taking over another business

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Internet selling- marketing products through the businesses website

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Franchisee - The firm that buys the franchise rights from the existing business

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Franchisor – The existing firm that sells the franchise rights to another business

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Merger- an agreement between business owners to combine two businesses and operate as a larger one

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Takeover- purchasing another business from its owner

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Horizontal integration- joining two businesses in the same industry and stage of production (eg. two hair dressing businesses)

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Vertical Backward Integration- Joining two businesses in the same industry but a different stage of production, towards the supplier (e.g. a computer manufacturer’s takeover of a ‘chip’ manufacturer

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Vertical Forward Integration – Joining two businesses in the same industry but in a different stage of production, towards the customer (e.g. a famer’s takeover of a butcher’s shop)

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Diversification- Joining two businesses in different industries (e.g. an insurance company merges with a publishing business)

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Monopoly- Any business with more than a 25% market share

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