Backward Integration: A Panacea for Rural Development in Nigeria
Journal Title: Academic Journal of Economic Studies - Year 2016, Vol 2, Issue 4
Abstract
Business is like a marathon race. It involves both mental and psychical alertness, exploring opportunities and taking chances is the strength, risk is the rule of the game and control is the price for the race. To this end, the aim of every business entity is to operate profitably in the industry it belongs, grow and possibly gain the largest share of the industry market. Among the strategies used in gaining control in the business industry is Integration which is the ability to influence or control either or both raw material input (backward integration) or the distribution chain (forward integration) or better still grow towards possible monopoly (conglomerate). While effort will be made to discuss other types of integration, this paper will focus more on the backward integration programme, its effect on the survival and growth of business entities, advantages and disadvantages to business operation and its role in rural development in Nigeria.
Authors and Affiliations
Rasaq Alabi Olanrewaju
Keywords
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