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What is forward integration and backward integration?
Forward integrationBackward integrationA business strategy that involves a form of vertical integration whereby activities are expanded to include control of the direct distribution of its productsA form of vertical integration that involves the purchase of suppliers in order to reduce dependency.
Vertical horizontal integration?
Determine the primary benefits that might be sought by consumers of the following products (a) Tooth paste
What is the difference between vertical and horizontal integration?
Horizontal integration is the process of merging similar industries, industries that produce similar products. Vertical integration is the process of buying out suppliers of that particular industry. The main difference is that horizontal integration buys the competing companies while vertical integration aims at the raw material sources necessary to produce that product
What is the difference between vertical coordination and vertical integration?
Vertical coordination: The process of ensuring that each successive stage in the production, processing, and marketing of a product is appropriately managed and interrelated to the next, so that decisions about what to produce, and how much, are communicated as efficiently as possible from the consumer to the producer. Agricultural economists believe that vertical coordination of markets is particularly important in the food industry because of its complexity, the large number of firms that participate in one or more stages, and the relative perishability of the products involved. Vertical integration is a type of vertical coordination, but the latter does not necessarily require that a single organization own or control all of the stages. For example, the use of contracts and marketing agreements between buyers and sellers, and the availability of timely, accurate price and other market information are methods for achieving vertical coordination.
What are limits and why you use them?
Limits give upper and lower bounds for integration. One simple example is in finding an enclosed area. The upper and lower limits form vertical lines which enclose an area between the function and the x-axis and then integration from the lower limit (smaller x boundary) to the upper limit (larger x boundary).
