24. This passage gives information about John D. Rockefeller. John D. Rockefeller was ruthless in his pursuit of total control of the oil refining business. As other oil producers flooded the area seeking a quick fortune, Rockefeller developed a plan to crush his competitors. Through his method of growth via mergers and acquisitions of similar companies, Standard Oil grew to include almost all other refineries in the country. Seeking still more control, Rockefeller began to grow his company by owning all aspects of a product's life cycle, from the creation of raw materials through the production process to the delivery of the final product. In order to control the variety of interests he now maintained in industry, Rockefeller created a new legal entity of a small group of trustees who possessed legal ownership of the business and benefited from its success. The highlighted sentence refers to which practice? A vertical integration B trust creation C horizontal integration D charitable giving

24. This passage gives information about John D. Rockefeller. John D. Rockefeller was ruthless in his pursuit of total control of the oil refining business. As other oil producers flooded the area seeking a quick fortune, Rockefeller developed a plan to crush his competitors. Through his method of growth via mergers and acquisitions of similar companies, Standard Oil grew to include almost all other refineries in the country. Seeking still more control, Rockefeller began to grow his company by owning all aspects of a product's life cycle, from the creation of raw materials through the production process to the delivery of the final product. In order to control the variety of interests he now maintained in industry, Rockefeller created a new legal entity of a small group of trustees who possessed legal ownership of the business and benefited from its success. The highlighted sentence refers to which practice? A vertical integration B trust creation C horizontal integration D charitable giving

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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