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Methods used to determine the size of a firm include;The number of employees.Volume of output producedFloor area covered by premiseSize of capital investedMarket servedSales volumeProduction method used
Benefits of globalization to a business enterprise include;Facilitates application of better technology for improved products.Encourages collaboration among businesses from different countries.Makes it possible to share new production techniques.Facilitates sharing of research binding.Enables business enterprises to take advantages of resources found in other parts of the world.Wider markets.Leads to transfer of capital from rich states to poor countries
Factors in the internal business environment that can lead to success of a business are;Committed ownerGood business structureProper business cultureSkilled workersAdequate financeUse-up to date technology
Factors to consider before investing in a retail business are;Profitability : A good business opportunity should generate high profitAvailability of market : Ready market and large market for sale of goodsLevel of production : competition should be minimal to ensure continuity of operationsFew risks : To minimize lossesGovernment policy: All legal requirements should be easy to fulfill to enable him start the businessLabour requirement: Relevant labour required must be available to enhance smooth operationManagement : Should have the relevant managerial skills or it should be easy to hire or run the businessSupply of inputs: there should be adequate supply of inputs for use in running operations of the businessCapital: The amount of money required in relation to the money available for investment should be enough.Growth prospects: Business having the possibility of growing / expanding.
Factors that influence the type of irrigation to be used in a farm include;Nature of land/topographyType of soilAvailability/amount of water usedType of crop to be irrigatedDistance of water source from fieldTechnology availableCost of the system to be usedClimate of the areaAvailability of skilled human power