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Vertical integration is the degree to which a firm owns its upstream suppliers and its downstream buyers. The differences depend on where the firm is placed in the order of the supply chain. There are three varieties of vertical integration: backward (upstream) vertical integration, forward (downstream) vertical integration, and balanced (both ...
Marketing. 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. [ 1][ 2][ 3] The process can lead to monopoly if a company captures the vast majority of the market ...
e. In mathematics, the integral of a non-negative function of a single variable can be regarded, in the simplest case, as the area between the graph of that function and the X axis. The Lebesgue integral, named after French mathematician Henri Lebesgue, is one way to make this concept rigorous and to extend it to more general functions.
Modularity of mind is the notion that a mind may, at least in part, be composed of innate neural structures or mental modules which have distinct, established, and evolutionarily developed functions. However, different definitions of "module" have been proposed by different authors. According to Jerry Fodor, the author of Modularity of Mind, a ...
Multi-level (or multilevel) governance is a term used to describe the way power is spread vertically between levels of government and horizontally across multiple quasi-government and non-governmental organizations and actors. [1] This situation develops because countries have multiple levels of government including local, regional, state ...
Social mobility is the movement of individuals, families, households or other categories of people within or between social strata in a society. [1] It is a change in social status relative to one's current social location within a given society. This movement occurs between layers or tiers in an open system of social stratification.
The extent to which vertical integration can alleviate the hold-up problem also depends on the information structure. While traditional incomplete contracting models of vertical integration such as Grossman and Hart (1986) assume symmetric information, Schmitz (2006) has extended the incomplete contracting framework to allow for asymmetric ...
Product differentiation. In economics and marketing, product differentiation (or simply differentiation) is the process of distinguishing a product or service from others to make it more attractive to a particular target market. This involves differentiating it from competitors ' products as well as from a firm's other products.