What is the scale of a business

What is economies of scale in business - Understanding your objectives is a key prerequisite to choosing the right platform architecturewhy basic soa, a major progressive step from monolithic architecture, is becoming insufficient to meet the demands of digital business and other modern application styleswhy it planners must think strategically, but act tactically, with an eye on continuing change in technology, it business models and enterprise business requirements. Examples of external economies of scale include:development of research and development facilities in local universities that several businesses in an area can benefit fromspending by a local authority on improving the transport network for a local town or cityrelocation of component suppliers and other support businesses close to the main centre of manufacturing are also an external cost saving. Economies of scalea large firm can spread its advertising and marketing budget over a large output and it can purchase its inputs in bulk at negotiated discounted prices if it has sufficient negotiation power in the market. But here's the rub -- if you don't focus on the key activities which move your business forward in a strategic way -- you're doomed to stagnate.

How to Scale Your Business

In response to one of the most common questions asked by entrepreneurs, Patrick shares a formula on How to Scale Your ...