Expansion - GCSE Business Definition

Expansion refers to the process of growing a company's operations, output, or market presence. This can be achieved through strategies such as increasing production capacity, launching new product lines, entering new geographical markets, or acquiring other businesses. For students studying GCSE Business, understanding expansion is crucial for explaining how businesses try to increase their market share, revenue, and ultimately, profitability. Expansion can also involve scaling up resources, including hiring more employees and investing in technology. It requires careful planning to manage potential risks and ensure sustainable growth.