________ Refers to a Diversification Strategy That Involves Taking a Step

question 53

Multiple Choice

________ refers to a diversification strategy that involves taking a step back (up) on the value chain toward the raw materials.

• A) Horizontal integration
• B) Backward integration
• C) Forward integration
• D) Conglomerate integration

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Definitions:

Qualifications

The credentials, skills, or attributes required for an individual to be considered suitable for a specific job or task.

Administrative Skills

The capabilities related to managing tasks, organizing work, and ensuring efficient operation within an office or organization.

Environmental Scanning

The process of systematically examining the external environment to identify opportunities and threats.

Firm Strategy

The plan of action developed by a business to achieve its goals and to compete effectively in its market.