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QuestionBusiness Management

Compare vertical integration and horizontal integration. How are they similar and different?
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Step 1
I'll provide a comprehensive comparison of vertical and horizontal integration:

Step 2
: Define Vertical Integration

Vertical Integration=Control of Multiple Stages of Production\text{Vertical Integration} = \text{Control of Multiple Stages of Production}
Vertical integration is a business strategy where a company owns multiple stages of production within the same supply chain. This means a firm controls different stages of manufacturing, distribution, or production of a single product line.

Final Answer

Both strategies aim to improve business performance but through different approaches.

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