WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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vertical integration
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horizontal integration
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corporation
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philanthropy
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Detailed explanation-1: -Vertical integration involves the acquisition of a key component of the supply chain that the company has previously contracted for. It may reduce the company’s costs and give it greater control of its products. Ultimately, it can increase the company’s profits.
Detailed explanation-2: -Vertical integration is a business strategy where the business itself controls the supply chain and multiple stages of its production process, thus eliminating or reducing third-party vendor dependencies.
Detailed explanation-3: -Vertical integration refers to an expansion strategy where one company takes control over one or more stages in the production or distribution of a product.
Detailed explanation-4: -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-5: -Vertical integration can allow your business to expand geographically by adding distribution centers in new areas or by acquiring a new brand. Generally, geographical expansion works best when expanding within a company’s own segment in the supply-distribution spectrum.