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How population affects business!
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[QUOTE="Mellorando, post: 205846, member: 37973"] Population is literally the lifeblood on which any business at all could succeed Increase in the size of population can enlarge the production base of the economy. The increase in size of population enlarges the scope of division of labour which in turn results large scale production, reduces cost of production and prices and expands market. Population growth increases density and, together with rural-urban migration, creates higher urban agglomeration. And this is critical for achieving sustained growth because large urban centers allow for innovation and increase economies of scale. Businesses react to the world around them. Products are sold not based on the business’ designs but on the strength of the customers’ needs. Therefore, it is vital for small businesses to be responsive to population shifts and lifestyle changes that are widely adopted by customers. Shifts in population and migration affect the composition of your workforce and influence the type of products your customers can purchase. Meanwhile, widespread lifestyle changes can influence the benefits businesses have to provide to their employees and what products they can sell to their customers Below are the advantages of economic growth to a business Advantages of population growth 1. More people leads to greater human capital. If there are more people, the probability of finding a genius like Einsterin, Marie Curie, Beethoven increase. These exceptional people can lead to technological and cultural masterpieces which enrich our lives. The past 200 years have shown exponential growth in technical development and innovation. There are many factors behind this, but the world’s growing population means we have a bigger pool of human capital and the possibility of these cutting edge discoveries increase. 2. Higher economic growth. Population growth will lead to economic growth with more people able to produce more goods. It will lead to higher tax revenues which can be spent on public goods, such as health care and environmental 3. Economies of scale. Farming and industry have been able to benefit from economies of scale, which means as the population grows, food output and manufacturing output have been able to grow even faster than population growth. For example, at the turn of the nineteenth century, Thomas Malthus predicted population growth would lead to famine as we would be unable to feed the growing population. However, his dire predictions failed to materialise because he failed to understand, that the productivity of land, labour and capital could all increase more than proportionately. 300 years ago, most of the population worked on the land. Technological innovation and economies of scale, mean productivity of land has vastly increased as farmers make use of mechanisation and economies of scale for increased food production. 4. The efficiency of higher population density. In terms of per capita carbon footprint, areas with a high population density are significantly more efficient than rural areas and places with a low population. When people live in densely populated areas, they are more likely to use public transport, live in apartment buildings which are easier to heat. In big cities, transport and the delivery of goods is much more efficient, whereas for low population densities, the average cost and environmental footprint are much higher. Therefore, population growth which leads to growth in city connurbations (which is a feature of global growth in past) is not as environmentally damaging as we may think. In Green Metropolis, by David Owen he argues living in closer proximity in cities is a key aspect of sustainability [/QUOTE]
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