Matching vertical integration strategies to competitive conditions
对比192家企业在不同环境和战略力量下的纵向整合策略，发现成功与不成功的整合方式差异：低效企业更多在不利行业条件下内部转移商品和服务，并过度延伸从原材料到成品的加工链条。
Abstract This paper contrasts the vertical integration strategies of 192 firms in the presence of diverse environmental and strategic forces to suggest how successful uses of vertical integration differ from less successful ones. Briefly, firms which did not use vertical integration as effectively transferred more goods and services internally, and they did so more often under adverse industry conditions. A frequent error was to undertake more integrated activities in‐house and engage in longer chains of processing from ultra‐raw materials to finished goods. Ironically, many of the vertically integrated firms that suffered adversity possessed the bargaining power needed to contract advantageously for goods or services, but accepted an overly risky ownership position unnecessarily by producing them, instead.