Answer :
Vertical integration is a business strategy in which a company purchases its upstream suppliers to ensure that its essential supplies are available as soon as the company needs them. Vertical integration can occurs when one company acquires a vendor, distributor, supplier, producer, or other related company within the same industry.
A business strategy can be defined as the specific ways in which an organization plans to position itself, grow over a period of time, and also achieve its short-term and long-term goals.
There are several examples of business strategies, such as Improve customer retention and Improve customer service. So, we can conclude that customer is an important point for business strategy.
There are several types of business strategies, such as:
- Competitive Strategy or Business
- Corporate Strategy or Organizational
- Operating Strategy
- Functional Strategy
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