A still mill owner sells his steel for such low prices that many other steel mills cannot complete, and so go out of business, luckily this owner is able to buy their abandon factories and expand his business. Is this a vertical integration or a horizontal integration?

"MacGyver  Corporation  manufactures  a  product  called  Miracle  Goo,  which  comes  in  handy  for  just  about anything. The thick tarry substance is sold in six-gallon drums. Two raw materials are used; these are referred to by people in the business as A and B. Two types of labor are required also. These are mixers (labor class I) and packers (labor class II). You were recently hired by the company president, Pete Thorn, to be the controller. You soon learned that MacGyver uses a standard-costing system. Vari-ances are computed and closed into Cost of Goods Sold monthly. After your first month on the job, you gathered the necessary data to compute the month’s variances for direct material and direct labor. You finished everything up by 5:00 p.m. on the 31st, including the credit to Cost of Goods Sold for the sum of the variances. You decided to take all your notes home to review them prior to your formal presenta-tion to Thorn first thing in the morning. As an afterthought, you…

1 - The part of an industry value chain that precedes a particular strategic business unit is called ______.     Offshoring   Supply Chain   Business Process Offshoring   Outsourcing

a practical example of a firm with lasting competitive advantage.