Growth and survival of firms · 企业的成长与生存
| English | 中文 | Pinyin · 拼音 |
|---|---|---|
| economies of scale/ɪˈkɒnəmiz ɒv skeɪl/ | 规模经济 | guī mó jīng jì |
| external growth/ekˈstɜːnl ɡrəʊθ/ | 外部增长 | wài bù zēng zhǎng |
| mergers/ˈmɜːdʒəz/ | 兼并 | jiān bìng |
| takeovers/ˈteɪkəʊvəz/ | 收购 | shōu gòu |
| diseconomies/ˌdɪsɪˈkɒnəmiz/ | 规模不经济 | guī mó bù jīng jì |
| niche markets/niːʃ ˈmɑːkɪts/ | 利基市场 | lì jī shì chǎng |
| principal-agent problem/ˈprɪnsɪpl ˈeɪdʒənt ˈprɒbləm/ | 委托代理问题 | wěi tuō dài lǐ wèn tí |
| internal growth/ɪnˈtɜːnl ɡrəʊθ/ | 内部增长 | nèi bù zēng zhǎng |
Why some firms grow huge — and some stay small
- Amazon spans the globe; the café on your corner stays one shop. Both can thrive. Why?
- Firms grow to reap economies of scale 规模经济 — but bigger isn't always better, and small firms survive for good reasons.
为什么有些企业长得巨大——有些保持小
- 亚马逊横跨全球;你街角的咖啡馆保持一家店。两者都能繁荣。为什么?
- 企业增长以收获规模经济——但更大不总是更好,而小企业因为好的理由存活。
Firm objective lab · 企业目标实验室
Classify real firm decisions by the objective they reveal. · 根据揭示的目标对真实的企业决策进行分类。
Growth by merger or takeover is an example of: · 通过并购或收购实现的成长是：
Mergers/takeovers are external growth; expanding your own operations is internal. · 并购/接管属于外部增长；扩大自身运营属于内部增长。
Internal and external growth 外部增长
- Internal (organic) growth: expanding output, opening branches, reinvesting profit — steady.
- External growth: mergers 兼并 and takeovers 收购 — fast, but riskier (clashing cultures, overpaying).
内部增长与外部增长
- 内部(有机)增长(internal / organic growth):扩大产出、开分店、再投资利润——稳定。
- 外部增长(external growth):合并(mergers)和收购(takeovers)——快,但更冒险(文化冲突、出价过高)。
Economies of scale mean that as output rises, long-run average cost: · 规模经济意味着随着产量增加，长期平均成本：
Bulk buying, specialisation and spreading fixed costs lower LRAC — up to a point. · 批量采购、专业化分工和分摊固定成本可降低LRAC——直到某一点。
Diseconomies of scale (e.g. poor communication) can raise long-run average cost if a firm grows too large. · 规模不经济（如沟通不畅）可能导致企业过度扩张时长期平均成本上升。
Beyond the optimum scale, LRAC rises — the right side of the U. · 超过最优规模后，LRAC上升——即U形曲线的右侧部分。
Falling long-run average cost as a firm grows is called economies of ______. · 企业规模扩大导致长期平均成本下降被称为______经济。
Economies of scale lower unit cost as output expands. · 规模经济在产量扩张时降低单位成本。
Economies of scale
- As a firm grows, long-run average cost can fall — economies of scale (bulk buying, specialisation, spreading fixed costs).
- Grow too big and diseconomies 规模不经济 set in (poor communication, bureaucracy), pushing LRAC back up.
LRAC falls with economies of scale, then rises with diseconomies — a U-shaped long-run curve.
规模经济
- 随着一个企业增长,长期平均成本能下降——规模经济(economies of scale,批量购买、专业化、分摊固定成本)。
- 长得太大,规模不经济(diseconomies)开始起作用(沟通不良、官僚主义),把 LRAC 推回上去。
LRAC 随规模经济下降,然后随规模不经济上升——一条 U 形的长期曲线。
Which helps small firms survive against large rivals? · 什么有助于小企业在面对大竞争对手时生存？
Niche focus, personal service and flexibility let small firms compete. · 利基聚焦、个性化服务和灵活性使小企业能够竞争。
Why small firms survive
- Niche markets 利基市场, personal service, flexibility, low barriers, and industries where scale gives little advantage all keep small firms alive.
The principal-agent problem 委托代理问题. When managers (agents) run a firm they don't own, they may chase size or perks rather than the owners' (principals') profit — a reason growth isn't always in shareholders' interest.
为什么小企业存活
- 利基市场(niche markets)、个性化服务、灵活性、低壁垒,以及规模给出很少优势的产业,都让小企业活着。
委托-代理问题。 当经理(代理人)经营一个他们不拥有的企业时,他们可能追逐规模或额外津贴而不是所有者(委托人)的利润——增长不总是符合股东利益的一个理由。
You've got it
- internal growth 内部增长 (organic) vs external growth (mergers/takeovers)
- economies of scale lower LRAC as a firm grows; diseconomies raise it if it grows too big
- small firms survive via niches, service, flexibility and where scale gives little gain
你掌握了
- 内部增长(有机)对外部增长(合并/收购)
- 规模经济随企业增长降低 LRAC;规模不经济在它长得太大时提高它
- 小企业通过利基、服务、灵活性和规模给出很少收益之处存活