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Explore the reasons why some businesses choose to grow while others stay small, including the motivations for expansion, growth strategies, challenges of growth, and factors that keep businesses small.

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Cambridge IGCSE Business StudiesUnderstanding business activity

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Explore the reasons why some businesses choose to grow while others stay small, including the motivations for expansion, growth strategies, challenges of growth, and factors that keep businesses small

This point belongs to Enterprise, business growth and size, especially Enterprise, business growth and size outcomes.
You need to be able to explore the reasons why some businesses choose to grow while others stay small, including the motivations for expansion, growth strategies, challenges of growth, and factors that keep businesses small.
The key ideas to know are Explain, Consider, and Justify.
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ExplainConsiderJustify

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Description

Business Growth Factors

Businesses may choose to grow for various reasons, including increasing market share and achieving economies of scale. However, challenges such as increased competition and management complexities can arise. Conversely, some businesses remain small due to niche markets or personal preferences of owners.

a
State one reason why businesses choose to grow.
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[1]

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