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(Production Management) What is vertical intergration? Give examples of backward and forward intergration. 200-300 words APA

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The response addresses the queries posted in 450 words with references.
//As per directions, we will firstly, discuss the precise meaning of 'Vertical Integration'. This will help the reader to understand the particular concept. I am just furnishing you a brief overview to raise your knowledge.//

Vertical Integration:

Vertical integration depicts a control of the organization over all the various manufacturing and distributing activities, which is mainly, taken in the production of its product or service. Vertical integration comes about, when an organization starts producing new products that serve its own demands. It is also defined as any activity attempted with the purpose of providing inputs i.e. raw material, working in progress, etc. or serving the consumer for outputs through marketing of the product. This integration returns better ...

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The response addresses the queries posted in 450 words with references.

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