Ways in which NNPC can achieve Internal Economies of Scale

Ways in which NNPC can achieve Internal Economies of Scale

 

Some of the ways are;

  1. 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.
  2. 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.
  3. Research Economies: The firm should afford its own research laboratory and employ competent researchers to man it.
  4. Managerial Economies: With its sound financial standing and large size, NNPC should employ managerial experts in different fields,
  5. 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.
  6. Training Economies: NNPC should have its own training institute, award scholarship to its workers and organize in-service training for its workers.
Also read:  What is stagflation?

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