Business integration
During the industrial revolution, companies began using horizontal and vertical integration to grow into major corporations.
Vertical integration happens when a company buys its suppliers or buyers.
Rockefeller’s standard oil owned companies that drilled for oil, reflned crude oil, and transported the refined oil products to retail stores.
When a business buys companies that offer similar products or services, it is called horizontal integration. Carnegie steel bought many companies that made iron goods. This horizontal integration enabled Carnegie to offer a wider variety of products.