Assignment Prompt:
Choose a company to use for this assignment. The company can be a U.S. firm, or a firm from any country that is easily researchable using search engines.
Please include Reference page
Identify the name of the firm, and then provide a brief description of the goods and/or services that the firm sells.
Think about the six ways to achieve economies of scale and describe how to apply the following to the company in order to achieve economies of scale:
Specialization: How can this be applied to your business specifically to achieve economies of scale?
Division of labor: How can this be applied to your business specifically to achieve economies of scale?
Advanced technology: How can this be applied to your business specifically to achieve economies of scale?
Automation devices: How can this be applied to your business specifically to achieve economies of scale?
Quantity discounts: How can this be applied to your business specifically to achieve economies of scale?
Financial strength (credit): How can this be applied to your business specifically to achieve economies of scale?
Other than the six ways to achieve economies of scale in #3, what other ways could managers of the company increase operational efficiencies? Decrease the law of diminishing returns?
Applying what you have learned, if you were the manager of a large business firm that is unable to achieve economies of scale, would you recommend that the firm cease operations and close? Why or why not?
For each of the above responses, be sure to provide a detailed and well-supported response utilizing key terms and concepts associated with the module which meets the content requirements for completed work, and contains no spelling, grammatical, or punctuation errors.
