The purchase of companies that make goods and services that a business relies on.
EXAMPLE: Smartphone companies work on all aspects of designing, manufacturing, and selling their product. Companies like Apple work together with Samsung and other phone companies to all complete the same goal.
Used to have all resources under one power; allows for cheaper supplies and higher profit
Companies that compete with one another use vertical integration to get ahead of others and be at an advantage
Rockefeller used this for his oil business and bought barrel factories, oil fields, oil storage factories, etc.
Also used by Carnegie to assist his steel business by buying supplies in bulk and producing items in large quantities
By Lauren, Sarah, and Justin