1850:
1839:
464:(R&D) is a typical example of economies of scope. In R&D economies, unit cost decreases because of the spreading R&D expenses. For example, R&D labs require a minimum number of scientists and researchers whose labour is indivisible. Therefore, when the output of the lab increases, R&D
672:
between products such that offering a range of products gives the consumer a more desirable product offering than would a single product. Economies of scope can also operate through distribution efficiencies—i.e. it can be more efficient to ship to any given location a range of products than a single
589:
The application of information technology to manufacturing has allowed processes to become more flexible and generated more opportunities for economies of scope than were possible with older forms of technology, when equipment tended towards greater specialization in how it could be used. Goldhar and
457:
that will then deliver high-margin revenues for a period", economies of scope may never reach that plateau, or point at all. As
Venkatesh Rao of Ribbonfarm explains it, "You may never get to a point where you can claim you have right-sized and right-shaped the business, but you have to keep trying.
449:
For a company, if it wants to achieve diversity, the economy of scope is related to resource, and it is similar to resource requirements between enterprises. Relevance supports the economy by improving the applicability of resources in the merged companies and supporting the economical use of
491:
across the production of multiple products. The cost of a cable network underlies economies of scope across the provision of broadband service and cable TV. The cost of operating a plane is a joint cost between carrying passengers and carrying freight, and underlies economies of scope across
530:
to estimate the economies of scope arising from factor-biased productivities that are jointly used across product lines. They found that economies of scope are important determinants of product market entry, and that they change entry probabilities by several percentage points.
504:, in the multi-output case, they are not sufficient. Economies of scope are, however, a necessary condition. As a matter of simplification, it is generally accepted that markets may have monopoly features if both economies of scale and economies of scope apply, as well as
479:. Throughout the strategic fit, diversified firms can merge with interrelated businesses and share the resources. These kind of corporations can limit the duplication of research and developments, provide a more planned and developed selling pipelines for businesses.
74:, if they are based on the common and recurrent use of proprietary know-how or on an indivisible physical asset. For example, as the number of products promoted is increased, more people can be reached per unit of money spent. At some point, however, additional
55:
The term and the development of the concept are attributed to economists John C. Panzar and Robert D. Willig (1977, 1981). Their 1981 article notes that they had coined the term several years previously, and felt that its logic was "intuitively appealing".
446:, there are diseconomies of scope. It is not recommended for the two firms to work together. Diseconomies of scope means that it is more efficient for two firms to work separately since the merged cost per unit is higher than the sum of stand-alone costs.
667:
If a sales team sells several products, it can often do so more efficiently than if it is selling only one product because the cost of travel would be distributed over a greater revenue base, thus improving cost efficiency. There can also be
578:, thus reaping economies of scope by using the same people and systems to market many different products"—i.e., "selling the financial products of the one by using the sales teams of the other"—which was the logic behind the 1998 merger of
42:
primarily sells gasoline, but can sell soda, milk, baked goods, etc. and thus achieve economies of scope since with the same facility, each new product attracts new dollars a customer would have spent elsewhere. The business historian
468:
may decrease. The substantial indivisible invest in R&D may also implies that average fixed costs will fall rapidly due to the output and sales increase. The ideas from one project can help another project (positive spillovers).
458:
In fact, managing the ongoing scope-learning process is the essential activity in business strategy. If you ever think you’ve right-sized/right-shaped for the steady state, that’s when you are most vulnerable to attacks."
475:, also known as complementarity that yields economies of scope, is the degree to which, or what kind of activities of different sections of an entrepreneur corporates with each other that complement themselves to achieve
646:, sells in many countries, or both will benefit from reduced risk (e.g., if a product line falls out of fashion or if one country has an economic slowdown, the company will likely be able to continue trading).
331:
34:, "economies" is synonymous with cost savings and "scope" is synonymous with broadening production/services through diversified products. Economies of scope is an economic theory stating that
192:
703:
574:. These companies sought to apply their financial skills across a more diverse range of industries through economies of scope. In the 1990s, several conglomerates that "relied on
63:(cost per unit) arising from increasing the scale of production for a single product type, economies of scope involve lowering average cost by producing more types of products.
650:
Goldhar and
Jellinek note that higher machine speeds are now both possible and economically feasible due to the sensory and control capabilities of "smart" machines and the
664:
is another area which can generate economies of scope, as it is an example of same equipment producing "multiple products more cheaply in combination than separately".
444:
366:
405:
982:"Economies of Scope, Resource Relatedness, and the Dynamics of Corporate Diversification: Economies of Scope, Relatedness, and Dynamics of Diversification"
676:
Further economies of scope occur when there are cost savings arising from byproducts in the production process, such as when the benefits of
105:
of producing two different products or services (X and Y) is lower when a single firm instead of two separate firms produces by themselves.
78:
expenditure on new products may become less effective (an example of the opposite effect, diseconomies of scope). Related examples include
1720:
1219:
203:
1183:
1108:
961:
67:
981:
810:
590:
Jelinek argue that the use of computers in manufacturing generates economies of scale via the following capabilities:
1139:
47:
argued that economies of scope contributed to the rise of
American business corporations during the 20th century.
111:
923:
828:
1020:
1879:
1874:
1411:
1212:
655:
601:
rapid responses to changes in market demand, product design and mix, output rates, and equipment scheduling
522:
1705:
1657:
1345:
500:
While in the single-output case, economies of scale are a sufficient condition for the verification of a
1095:, Contributions to Economic Analysis, vol. 286, Emerald Group Publishing Limited, pp. 99–111,
38:
of production decrease as a result of increasing the number of different goods produced. For example, a
1367:
1355:
1350:
1340:
1155:
Boehm, Johannes; Dhingra, Swati; Morrow, John (1 December 2022). "The
Comparative Advantage of Firms".
629:
1785:
1310:
1261:
1451:
1320:
868:
461:
1853:
1750:
1745:
1695:
1568:
1446:
1205:
635:
made possible and economical by the encoding of process information in easily replicable software
579:
79:
450:
resources (such as employees, factories, technical and marketing knowledge) in these companies.
1770:
1730:
1725:
1507:
1478:
1335:
1257:
651:
551:
527:
44:
417:
339:
1715:
1700:
1416:
618:
476:
547:
one product alongside another, using the outputs of one business as the inputs of another).
1765:
1685:
1617:
1532:
1426:
1362:
718:
378:
826:
John C. Panzar; Robert D. Willig (1977). "Economies of Scale in Multi-Output
Production".
8:
1780:
1607:
1456:
1399:
1242:
693:
539:
Economies of scope arise when businesses share centralized functions (such as finance or
454:
1040:"A theory on the role of wholesalers in international trade based on economies of scope"
895:
Teece, David J. (September 1980). "Economies of Scope and the Scope of the
Enterprise".
1690:
1636:
1563:
1473:
1431:
1421:
1389:
1384:
1325:
1069:
1001:
877:
845:
713:
708:
698:
681:
408:
83:
27:
1100:
751:
543:) or when they form interrelationships at other points in the business process (e.g.,
1823:
1811:
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1760:
1622:
1546:
1502:
1135:
1104:
1061:
1005:
957:
908:
806:
550:
Economies of scope served as the impetus behind the formation of large international
509:
1073:
1775:
1755:
1662:
1612:
1583:
1441:
1406:
1303:
1281:
1164:
1096:
1051:
993:
949:
904:
837:
501:
453:
Unlike economies of scale, "which can be reasonably be expected to plateau into an
87:
1843:
1315:
1252:
632:
622:
567:
95:
39:
1088:
1818:
1558:
1517:
1436:
1228:
1087:
Hinloopen, Jeroen (1 January 2008), Cellini, Roberto; Lambertini, Luca (eds.),
595:
91:
953:
1868:
1740:
1640:
1631:
1602:
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1522:
1286:
1276:
1266:
1065:
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571:
544:
472:
71:
1710:
1542:
1537:
1271:
677:
643:
465:
60:
35:
1735:
1647:
1527:
1379:
1293:
783:
661:
75:
26:
are "efficiencies formed by variety, not volume" (the latter concept is "
1495:
1247:
1056:
1039:
881:
849:
723:
608:
559:
488:
102:
805:(7. print ed.). Cambridge: Belknap Press of Harvard Univ. Press.
1806:
1573:
1490:
1485:
1298:
997:
625:
583:
540:
505:
369:
31:
841:
1598:
1593:
1468:
1168:
866:
John C. Panzar; Robert D. Willig (May 1981). "Economies of Scope".
1652:
1551:
1463:
1197:
669:
555:
368:, there are economies of scope. It is recommended that two firms
487:
The essential reason for economies of scope is some substantial
59:
Whereas economies of scale for a firm involve reductions in the
1838:
1627:
865:
825:
749:
197:
The degree of economies of scope (DSC) formula is as follows:
18:
Efficiencies formed by variety of products or services offered
1512:
1394:
1374:
326:{\displaystyle DSC={TC(q1)+TC(q2)-TC(q1,q2) \over TC(q1,q2)}}
1669:
639:
604:
greater control, accuracy, and repeatability of processes
946:
Encyclopedia of
Production and Manufacturing Management
563:
803:
Scale and scope: the dynamics of industrial capitalism
1184:"3D Printing – Transforming The Supply Chain: Part 1"
607:
reduced costs from less waste and lower training and
420:
381:
342:
206:
114:
628:, or fewer stoppages for missing or broken parts: *
1154:
750:Joel D. Goldhar; Mariann Jelinek (November 1983).
438:
399:
360:
325:
186:
1866:
897:Journal of Economic Behavior & Organization
1089:"Chapter 5 Strategic R&D with Uncertainty"
1213:
1018:
614:more predictability (e.g., maintenance costs)
1134:. Malden, MA: Blackwell. pp. 224–227.
1220:
1206:
187:{\displaystyle TC(QX+QY)<TC(QX)+TC(QY)}
1086:
1055:
979:
861:
859:
372:, or systems merge, to produce together.
1021:"Economies of Scale, Economies of Scope"
800:
1037:
1867:
1012:
980:Arkadiy V, Sakhartov (November 2017).
856:
778:
776:
774:
772:
101:Economies of scope exist whenever the
1201:
921:
894:
745:
743:
741:
739:
515:
495:
975:
973:
939:
937:
819:
1181:
1129:
924:"Horizontal Boundaries of the Firm"
769:
621:thanks to better machine use, less
13:
1776:Microfoundations of macroeconomics
1227:
736:
14:
1891:
1019:Venkatesh Rao (15 October 2012).
970:
934:
526:, researchers used data from the
1849:
1848:
1837:
801:Chandler, Alfred Dupont (2004).
554:in the 1970s and 1980s, such as
492:passenger and freight services.
1175:
1148:
1123:
1080:
1031:
1182:Lee, Leonard (26 April 2013).
922:Lukas, Erica (23 April 2014).
915:
888:
829:Quarterly Journal of Economics
794:
784:"Economies of scale and scope"
704:Production, costs, and pricing
678:heating from energy production
482:
317:
299:
288:
270:
258:
249:
237:
228:
181:
172:
160:
151:
139:
121:
1:
1188:IBM Insights on Business blog
1101:10.1016/s0573-8555(08)00205-8
1044:Canadian Journal of Economics
752:"Plan for Economies of Scope"
729:
1157:Journal of Political Economy
986:Strategic Management Journal
909:10.1016/0167-2681(80)90002-5
656:computer-aided manufacturing
642:: a company that sells many
523:Journal of Political Economy
50:
7:
1721:Civil engineering economics
1706:Statistical decision theory
1346:Income elasticity of demand
1093:The Economics of Innovation
687:
534:
528:Indian manufacturing sector
10:
1896:
1356:Price elasticity of supply
1351:Price elasticity of demand
1341:Cross elasticity of demand
70:efficient, as part of the
1832:
1799:
1678:
1235:
954:10.1007/1-4020-0612-8_279
680:has a positive effect on
520:In a 2022 article in the
1412:Income–consumption curve
1038:Akerman, Anders (2018).
869:American Economic Review
462:Research and development
439:{\displaystyle DSC<0}
411:nor economies of scope.
361:{\displaystyle DSC>0}
66:Economies of scope make
36:average total cost (ATC)
1746:Industrial organization
756:Harvard Business Review
594:extreme flexibility in
68:product diversification
944:"Economies of Scope".
652:information management
440:
401:
362:
327:
188:
82:of different types of
1716:Engineering economics
1311:Cost–benefit analysis
948:. 2000. p. 177.
633:processing capability
477:competitive advantage
441:
402:
400:{\displaystyle DSC=0}
363:
328:
189:
1880:Production economics
1875:Monopoly (economics)
1533:Price discrimination
1427:Intertemporal choice
1132:Managerial Economics
719:Economies of density
418:
379:
340:
204:
112:
30:"). In the field of
1844:Business portal
1781:Operations research
1608:Substitution effect
694:Economic efficiency
682:agricultural yields
1422:Indifference curve
1390:Goods and services
1331:Economies of scope
1326:Economies of scale
1130:Png, Ivan (1998).
1057:10.1111/caje.12319
790:. 20 October 2008.
714:Economies of scale
709:Theory of the firm
699:Mass customization
516:Empirical Evidence
496:Natural monopolies
436:
409:economies of scale
397:
358:
323:
184:
28:economies of scale
24:Economies of scope
1862:
1861:
1824:Political economy
1623:Supply and demand
1503:Pareto efficiency
1163:(12): 3025–3100.
1110:978-0-444-53255-8
992:(11): 2168–2188.
963:978-0-7923-8630-8
673:type of product.
510:barriers to entry
321:
1887:
1852:
1851:
1842:
1841:
1584:Returns to scale
1442:Market structure
1222:
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1208:
1199:
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1016:
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998:10.1002/smj.2654
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747:
658:(CAM) software.
654:capabilities of
502:natural monopoly
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442:
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88:product bundling
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1316:Deadweight loss
1253:Consumer choice
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1226:
1196:
1195:
1180:
1176:
1153:
1149:
1142:
1128:
1124:
1115:
1113:
1111:
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1036:
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978:
971:
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920:
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893:
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842:10.2307/1885979
824:
820:
813:
799:
795:
782:
781:
770:
760:
758:
748:
737:
732:
690:
598:and product mix
580:Travelers Group
537:
518:
498:
485:
455:efficient state
419:
416:
415:
407:, there are no
380:
377:
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341:
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292:
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205:
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113:
110:
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96:family branding
53:
45:Alfred Chandler
19:
12:
11:
5:
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1819:Macroeconomics
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1518:Price controls
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1488:
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1437:Market failure
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1233:
1232:
1229:Microeconomics
1225:
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1217:
1210:
1202:
1194:
1193:
1174:
1169:10.1086/720630
1147:
1140:
1122:
1109:
1079:
1050:(1): 156–185.
1030:
1011:
969:
962:
933:
914:
903:(3): 223–247.
887:
876:(2): 268–272.
855:
836:(3): 481–493.
818:
812:978-0674789951
811:
793:
768:
734:
733:
731:
728:
727:
726:
721:
716:
711:
706:
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689:
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636:
615:
612:
605:
602:
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596:product design
536:
533:
517:
514:
497:
494:
484:
481:
466:costs per unit
435:
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92:product lining
52:
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17:
9:
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4:
3:
2:
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1751:Institutional
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1696:Computational
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1659:
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1655:
1654:
1651:
1649:
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1642:
1641:Law of supply
1638:
1635:
1633:
1632:Law of demand
1629:
1626:
1625:
1624:
1621:
1619:
1618:Social choice
1616:
1614:
1611:
1609:
1606:
1604:
1603:Excess supply
1600:
1597:
1595:
1592:
1590:
1589:Risk aversion
1587:
1585:
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1577:
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1550:
1548:
1544:
1541:
1539:
1536:
1534:
1531:
1529:
1526:
1524:
1523:Price ceiling
1521:
1519:
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1514:
1511:
1509:
1506:
1504:
1501:
1497:
1494:
1492:
1489:
1487:
1484:
1480:
1479:Complementary
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1771:Mathematical
1731:Experimental
1726:Evolutionary
1711:Econometrics
1569:Public goods
1543:Price system
1538:Price signal
1452:Monopolistic
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1321:Distribution
1236:Major topics
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1701:Development
1648:Uncertainty
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1380:Externality
1363:Equilibrium
1304:Transaction
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662:3D printing
630:distributed
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1869:Categories
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1496:Oligopsony
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1807:Economics
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1066:1540-5982
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626:inventory
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508:or other
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1854:Category
1800:See also
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1791:Welfare
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