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Ways in which NNPC can achieve Internal Economies of Scale
Some of the ways are;
- Technological Or Technical Economies: NNPC should apply the use of advanced machines, many workers and the application of division of labour, etc which will increase its outputs and lower the cost per unit.
- Marketing Economies: NNPC should buy its raw materials in bulk which will lower the prices and get large discount, sell in bulk and save packing and transport costs.
- Research Economies: The firm should afford its own research laboratory and employ competent researchers to man it.
- Managerial Economies: With its sound financial standing and large size, NNPC should employ managerial experts in different fields,
- Welfare Economies: NNPC should provide better welfare facilities such as, housing scheme, canteen, medical services, transport scheme, etc, that will motivate its workers for improved efficiency of labour.
- Training Economies: NNPC should have its own training institute, award scholarship to its workers and organize in-service training for its workers.
Click here to download “Ways in which NNPC can achieve Internal Economies of Scale” as PDF.
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