Vertical Integration by Industrial Firms During the Major Part of the 20^th

question 36

Multiple Choice

Vertical integration by industrial firms during the major part of the 20^th century was motivated primarily by firms' desire for:

• A)Reducing costs
• B)Securing scare inputs
• C)Reducing risk and improving coordination
• D)Increasing speed

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Definitions:

Competitive Environment

The dynamic external context in which businesses compete for customers, characterized by the presence of rival firms, demand conditions, and market forces.

Environmental Scanning

The process of systematically gathering information about the external environment to identify trends, opportunities, and threats that could impact an organization.

Core Capabilities

The essential skills, knowledge, and competencies that give a company a competitive edge in its industry.

HR Strategy

A comprehensive plan designed by the human resources department to manage and develop the workforce effectively in line with the organization's goals.