THE VIRGINIA DYNASTY 1801 1825
AMERICAN INDUSTRIALIZATION FACTORY SYSTEM AND MARKET REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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vertical integration/consolidation
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horizontal integration/consolidation
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Either A or B
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None of the above
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Detailed explanation-1: -A vertical integration structure involves a company taking over multiple stages of its production or sales processes rather than relying on external suppliers and trade partners.
Detailed explanation-2: -The stages relative to vertical integration are materials, suppliers, manufacturing, and distribution.
Detailed explanation-3: -There are three varieties of vertical integration: backward (upstream) vertical integration, forward (downstream) vertical integration, and balanced (both upstream and downstream) vertical integration.
Detailed explanation-4: -Vertically integrated production, also known as backward integration, is when a company buys or controls manufacturers and suppliers for its products and materials. This can include all aspects of the value chain-from raw materials to product marketing and sales.