buying every part of the process, there by taking business away from other companies.
The idea of vertical integration was introduced by Andrew Carnegie.
Andrew Carnegie
Vertical integration and horizontal integration :D
andrew carnegie
Andrew Carnegie
Nineteenth-century steel tycoon Andrew Carnegie introduced the concept and use of vertical integration
i think he developed vertical integration...
Vertical Integration
Andrew Carnegie's Monopoly is the extreme case in capitalism.
He gained control of the businesses performing each phase of a product's development.
Vertical integration occurs when a company owns several parts of the chain that ends in a finished product. For example, if the company produces the raw ingredients and also owns the means of turning those ingredients into finished products, this gives them an advantage compared to a company that has to find someone to use their raw product.
buying every part of the process, there by taking business away from other companies.