1. Choose a company to use for this discussion.The company can be a U.S.firm,or a firm from any country that is easily researchable using Internet search engines.
2. Using the web,familiarize yourself with the company(reviewtheir website as well asrecent news about the company related to the company's business operations,market share,or overall profitability).
3. Explain the company that you have researched, and its business model (i.e. how it makes money).
4. Think about the six (6) ways that firms can achieve economies of scale, and describe how to apply the followingto the companyin order to achieve economies of scale:
5. Specialization: How can this be applied to your business specifically to achieve economies of scale?
6. Division of labor:How can this be applied to your business specifically to achieve economies of scale?
7. Advanced technology:How can this be applied to your business specifically to achieve economies of scale?
8. Automation devices:How can this be applied to your business specifically to achieve economies of scale?
9. Quantity discounts:How can this be applied to your business specifically to achieve economies of scale?
10. Financial strength (credit):How can this be applied to your business specifically to achieve economies of scale?