Companies expand to make more profit. They pursue internal growth or external growth strategies to scale their operations.When a business grows in size, it provides several benefits, including higher profits. Large businesses can generate more
Economies of Scale
Economies of Scale: Types, Benefits, How to Achieve It
What it is: Economies of scale are the cost savings when a company increases its production scale. An increase in output allows the firm to reap a decreasing average cost of production. Production becomes more efficient because the firm can