When a firm expands upstream,it is engaging in a process called

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Backward integration is the process of a company moving up the supply chain by acquiring or merging with suppliers or manufacturing the components it needs to produce its products. This helps the firm ensure a reliable supply of materials and reduce costs. On the other hand, forward integration involves moving downstream by acquiring or merging with distributors or retailers to control the sales of its products. Conglomerate diversification involves expanding into unrelated industries, while related diversification involves entering new but related industries.

When a Firm Expands Upstream,it Is Engaging in a Process