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Strategy#4

QuestionAnswer
When do we 1,Internalize 2,Outsource 1,Internalize when Transaction costs are higher than administration costs 2,Outsource when administration costs are higher than transaction costs
What determines administrative costs of the firm Scope= the number & variety of transactions incorporated into the firm
What is vertical integration (3) 1, ownership of vertically related activities 2,forward intergration=intergration closer to customers´ activities 3,backward intergration= intergration closer to suppliers´ activities
What are benefits of vertical integration (2) 1,Technical economies (transport costs, multiple use of inputs,.etc..) 2,Avoidance of transaction costs caused by market contracts
What do costs of vertical integration depends on (5) 1,difference of optimal scales between supplier & business customers 2,differences in managing different businesses 3,competitive effects 4,need for flexibility 5,unattractive industry (low-margin)
What are types of vertical integration (3) 1,Long-term contracts 2,Vertical partnership
Created by: semester1.IBWL
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