Asked by Danielle Vander Meulen on Sep 28, 2024
Verified
Undertaking value-added activities that were once outsourced to suppliers is known as ________.
A) backward integration
B) product development
C) forward integration
D) diversification
Backward Integration
A business strategy to control production of its supplies by purchasing or owning the suppliers, thus ensuring a more stable supply chain.
Value-added Activities
Process or actions that enhance the worth of a product or service, contributing to higher customer satisfaction or competitive advantage.
Product Development
The complete process of bringing a new product to market, from ideation through design, development, and introduction.
- Comprehend the concept of backward integration and its role in business strategy.
Verified Answer
Learning Objectives
- Comprehend the concept of backward integration and its role in business strategy.
Related questions
Inability to Achieve Cooperation, According to a Business Ecologist, Is ...
Key Capabilities for Today's Companies Include Rapid Product Development and ...
As a Result of the Fast-Paced Changes Occurring in the ...
Refer to Home Designs, Inc ...
Research on Porter's Model Indicates A(n) ____ Relationship Between Long-Term ...