Year-Over-Year (YoY) is a type of financial analysis used to compare data between time series. It is a data comparison of one time period (ex: a month) against the comparable previous period (ex: the same month in the previous year).
Economies of scale is an important concept in economics and business strategy, offering companies the opportunity to achieve significant cost advantages as they expand their output. This occurs due to the strong relationship between...
Fixed cost is a type of cost that does not change with an increase or reduction in production quantity. The company has to pay the fixed cost despite the number of units produced.
Diseconomies of scale are which the company experiences an increase in average unit cost when the production output increases.
The Societal Marketing Concept states that corporates should offer products and services which satisfy the needs of their consumers, company requirements and maintains the well-being of the society at large.
Horizontal Integration is where two companies in the same industry merge together.
Forward integration is a strategy where the company gains control of the business activities that are ahead in the value chain.
Backward integration is a strategy where the company gains control of the business activities that were behind in their value chain.
Differences between Forward Integration and Backward Integration
Vertical integration is where the company obtains the ownership and control of more than one stage of the supply chain.