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English definition of “vertical integration”

vertical integration

noun [U]     (also vertical amalgamation, also vertical combination) ECONOMICS, MANAGEMENT
(also vertical merger) a situation where a company buys companies that are its suppliers and customers , taking over more stages of an industrial or commercial process : Mobile phone companies are becoming more powerful through vertical integration .
the degree to which a company carries out the different stages in an industrial or commercial process , rather than depending on outside suppliers and customers : In recent years , there are increasing number of Hong Kong manufacturers adopting a strategy of vertical integration to enhance value-added content to their products .
→ Compare horizontal integration → See also backward integration, forward integration, vertical disintegration
(Definition of vertical integration noun from the Cambridge Business English Dictionary © Cambridge University Press)
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