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Unlike backward vertical integration, which serves to reduce costs of production, forward vertical integration allows a company to decrease its costs of distribution. This includes avoiding paying taxes for exchanges between stages in the chain of production, bypassing other price regulations, and removing the need for intermediary markets.
Vertical integration shifts the ownership of the organizational asset of the firm and therewith creates more flexibility and avoids potential of a hold-up. In that way, the (transaction) costs associated with contractually induced hold-ups are saved and also the costs associated with the number of contracts written and executed.
The Tupolev Tu-4, a Soviet bomber built by reverse engineering captured Boeing B-29 Superfortresses. Reverse engineering (also known as backwards engineering or back engineering) is a process or method through which one attempts to understand through deductive reasoning how a previously made device, process, system, or piece of software accomplishes a task with very little (if any) insight ...
Backward induction can be applied to only limited classes of games. The procedure is well-defined for any game of perfect information with no ties of utility. It is also well-defined and meaningful for games of perfect information with ties. However, in such cases it leads to more than one perfect strategy.
Horizontal integration is the process of a company increasing production of goods or services at the same level of the value chain, in the same industry. A company may do this via internal expansion or through mergers and acquisitions .
Tapered integration is a term from organization theory that refers to a mix of vertical integration and market exchange. [1] Upstream, a producer might manufacture some of the input itself and buy the remaining portion from independent firms.
The backward differentiation formula (BDF) is a family of implicit methods for the numerical integration of ordinary differential equations.They are linear multistep methods that, for a given function and time, approximate the derivative of that function using information from already computed time points, thereby increasing the accuracy of the approximation.
Backcasting is a planning method that starts with defining a desirable future and then works backwards to identify policies and programs that will connect that specified future to the present. [1] The fundamentals of the method were outlined by John B. Robinson from the University of Waterloo in 1990. [ 2 ]