question 7 (4 points)\n1. this type of integration occurs when the company owns elements at the beginning of…

question 7 (4 points)\n1. this type of integration occurs when the company owns elements at the beginning of the supply chain. (blank 1)\n2. provide an example of this type of integration. (blank 2)\n3. this type of integration is when a company moves to take over part of the distribution or use once the product is made. (blank 3)\n4. the goal of business is to reach this. (blank 4)

question 7 (4 points)\n1. this type of integration occurs when the company owns elements at the beginning of the supply chain. (blank 1)\n2. provide an example of this type of integration. (blank 2)\n3. this type of integration is when a company moves to take over part of the distribution or use once the product is made. (blank 3)\n4. the goal of business is to reach this. (blank 4)

Answer

Brief Explanations:

  1. Vertical integration where a company owns upstream elements of the supply - chain is backward integration.
  2. An example of backward integration could be a furniture company buying a forest for timber supply.
  3. When a company takes over part of the distribution or use after product is made, it's forward integration.
  4. The goal of business is often to reach profitability or maximize shareholder value.

Answer:

  1. Backward integration
  2. A furniture company buying a forest for timber supply
  3. Forward integration
  4. Profitability (or Maximize shareholder value)