SOCA01H3 Lecture Notes - Lecture 9: Vertical Integration

29 views7 pages
School
Department
Course
Professor
/HFWXUH
/HFWXUH
/HFWXUH
/HFWXUH ξ€œ
ξ€œ
ξ€œ
ξ€œ Β±
Β±
Β±
Β±&XOWXUH
&XOWXUH
&XOWXUH
&XOWXUH DQG
DQG
DQG
DQG 0HGLD
0HGLD
0HGLD
0HGLD
&XOWXUH
&XOWXUH
&XOWXUH
&XOWXUH
$ORRN DWFXOWXUDOFKDQJHIURPDOLPLWHGSHUVSHFWLYH
x
x
x
x7KH
7KH
7KH
7KH HOHFWURQLF
HOHFWURQLF
HOHFWURQLF
HOHFWURQLF UHYROXWLRQ
UHYROXWLRQ
UHYROXWLRQ
UHYROXWLRQ
(IIHFWV
(IIHFWV
(IIHFWV
(IIHFWVRI
RI
RI
RI HOHFWURQLF
HOHFWURQLF
HOHFWURQLF
HOHFWURQLF UHYROXWLRQ
UHYROXWLRQ
UHYROXWLRQ
UHYROXWLRQ
&RQVHTXHQFHVRI WKH PDVV PHGLD DQG HOHFWURQLFUHYROXWLRQ QRWKLQJ LVREYLRXV RU FHUWDLQ
0DVV VRFLHW\ K\SRWKHVLVξ€‹ξ€”ξ€œξ€˜ξ€“Vξ€Œ *OREDOL]DWLRQξ€Œ 
0HGLDEUHDNGRZQV ORFDOEDUULHUVDQG KRPRJHQL]HVHYHU\RQH
HJ
HJ
HJ
HJ 'DOODV79VKRZξ€ŒYVWKH 6RYLHW8QLRQ 79VKRZ WKDWSRUWUD\HGDUHDOO\KLJK FODVV IDPLO\3HRSOH
VD\VWKDW LW ZDVLQVWUXPHQWDO LQEULQJLQJ GRZQWKH 8665EHFDXVHLW VKRZHGWKDWSHRSOH FRXOGKDYH D
KLJKHUVWDQGDUGRI OLYLQJ
%DUDFN2EDPDILUVWZRUOGSUHVLGHQW
5HDFWLRQV DJDLQVW:HVWHUQGRPLQDWLRQV
,Q)UDQFH UHDOO\KDUGWRVKRZ +ROO\ZRRG PRYLHV
86IDVWIRRG 0F'RQDOGV%XUJHU.LQJ ξ€‘ξ€‘ξ€‘ξ€Œ LVDJOREDOZLQQHUWKH VORZIRRG PRYHPHQW VWDUWHGLQ
(XURSHξ€Œ
3RVVLEOH
3RVVLEOH
3RVVLEOH
3RVVLEOH&RQVHTXHQFHV
&RQVHTXHQFHV
&RQVHTXHQFHV
&RQVHTXHQFHVRI
RI
RI
RI (OHFWURQLF
(OHFWURQLF
(OHFWURQLF
(OHFWURQLF5HYROXWLRQ
5HYROXWLRQ
5HYROXWLRQ
5HYROXWLRQ
79ξ€’9LGHRPHGLDWHVUHDOLW\
LQIRUPDWLRQ RYHUORDG
IHDUFXOWXUHFRFRRQξ€Œ
HPSRZHUPHQW ,QJOHKDUWξ€Œ
SRVWPRGHUQLVP
x
x
x
x79
79
79
790HGLDWHV
0HGLDWHV
0HGLDWHV
0HGLDWHV5HDOLW\
5HDOLW\
5HDOLW\
5HDOLW\
7KHUH DUHPRUH79VWKDQSHRSOHLQWKH DYHUDJHKRXVHVξ€•ξ€‘ξ€šξ€– 79VYVξ€‘ξ€•ξ€‘ξ€˜ξ€˜ SHRSOH
79VLQEXVHVHOHYDWRUVDLUSRUWVOREELHV
79VΒΆXELTXLW\DVDSSOLDQFH
&RQVSLFXRXV FRQVXPSWLRQ



,I QRW RQ 79LW QHYHUKDSSHQHG 79YDOLGDWHVUHDOLW\
,I \RX FDQQRW GR LQ  VHFRQGV LW QHYHUPDNHVLW WR79VRXQG ELWHV
6RXQG
6RXQG
6RXQG
6RXQG %LWHV
%LWHV
%LWHV
%LWHV1HZV
1HZV
1HZV
1HZV
<($5
<($5
<($5
<($5 $YHUDJH
$YHUDJH
$YHUDJH
$YHUDJH 6RXQG
6RXQG
6RXQG
6RXQG ELWH
ELWH
ELWH
ELWH
ξ€”ξ€œξ€™ξ€› ξ€—ξ€– VHFRQGV
ξ€”ξ€œξ€šξ€• ξ€•ξ€˜
ξ€”ξ€œξ€šξ€™ ξ€”ξ€›
ξ€”ξ€œξ€›ξ€“ 
ξ€”ξ€œξ€›ξ€› ξ€œ
)URP -URI &RPPXQLFDWLRQ 6SULQJ ξ€”ξ€œξ€œξ€•
:KLWHQRLVHRI PRGHUQOLIH
+LVWRU\DVDEODFNKROH<RXQJ SHRSOHZRQΒΆWZDWFKEODFNDQG ZKLWH79QR RQH ZDWFKHVROGPRYLHV
%H\RQG
%H\RQG
%H\RQG
%H\RQG79
79
79
79QHZ
QHZ
QHZ
QHZFRQQHFWLYLWLHV
FRQQHFWLYLWLHV
FRQQHFWLYLWLHV
FRQQHFWLYLWLHV
$W WKH EHJLQQLQJ FHOO SKRQHVZHUHXVHGDORW E\ GUXJ GHDOHUVEHFDXVHWKH\FRXOGQΒΆW WDSWKH OLQH DQG
EHFDXVHRI WKH PRELOLW\
&HOO SKRQH DQG SDUW\DQG UHYROWVWKH WH[WPHVVDJLQJ UHYROXWLRQ HJ
HJ
HJ
HJ 6$56VWDUWHGLQ&KLQDEXW &KLQD
ZDVGHQ\LQJ LW DQG FRQWUROOLQJ WKH LQIRUPDWLRQ OHDNLQJ LQWRWKHLQWHUQHW7KH ZRUOGIRXQG RXW EHFDXVHRI
WH[WPHVVDJLQJHJ
HJ
HJ
HJ GXULQJ PDQLIHVWDWLRQVDFWVRI UHSUHVVLRQ DQG VXFKSHRSOHVQDSSLFWXUHVZLWKFHOO
SKRQHV
www.notesolution.com
Unlock document

This preview shows pages 1-2 of the document.
Unlock all 7 pages and 3 million more documents.

Already have an account? Log in
x
x
x
x,QIRUPDWLRQDO
,QIRUPDWLRQDO
,QIRUPDWLRQDO
,QIRUPDWLRQDO 2YHUORDG
2YHUORDG
2YHUORDG
2YHUORDG
2QWKH ξ€”ξ€œξ€™ξ€“V WKHUHZHUHPRUHVFLHQWLILFSDSHUVSXEOLVKHGWKDQLQDOO SUHYLRXV KXPDQKLVWRU\DQG WKH
QXPEHUVNHHSSUROLIHUDWLQJ7KH QXPEHURI MRXUQDOVKDVLQFUHDVHGGUDPDWLFDOO\
2YHUORDGLVGLVWUHVVLQJ \RX IHHOUXVKHG VRPXFKWRVZDOORZLQDVLQJOHELWH
2YHUORDG YVVHPLDWWHQWLYH DWWLWXGH WKLQJVZHWXQH RXW HJ
HJ
HJ
HJ FRPPHUFLDOVξ€Œ
$WKHLJKW RI ELUGIOXWKHUHZHUHVRPHWLPHVDVPXFKDV LQWHUQHWDUWLFOHVDGD\DERXW LW
6RPHRQH VDLGWKDWFRPSXWHUVZRXOGFUHDWHSDSHUOHVV RIILFHVDQG \HWTXLWHWKHRSSRVLWHKDVKDSSHQHG
x
x
x
x&RFRRQLQJ
&RFRRQLQJ
&RFRRQLQJ
&RFRRQLQJ
)HDURI FXOWXUH
7KH PRUH\RX ZDWFK79QHZVWKH PRUH\RX IHDUQHZV
:RUNLQJ DWKRPH
6XEXUEDQL]DWLRQ DQG JDWHGFRPPXQLWLHV
+RPH HQWHUWDLQPHQW V\VWHPVEHJLQWRULYDO WKHDWUHVξ€‘ξ€”ξ€œξ€›ξ€› H[SHQGLWXUH+RPHYLGHRUHQWDO ELOOLRQ YV
PRYLHVξ€—ξ€—ξ€™ PLOOLRQ
x
x
x
x(PSRZHUPHQW
(PSRZHUPHQW
(PSRZHUPHQW
(PSRZHUPHQW
&KRLFH
&KRLFH
&KRLFH
&KRLFHV RI VDWHOOLWH FKDQQHOVLQIRUPDWLRQ RQ WKH LQWHUQHW
&RQWURO
&RQWURO
&RQWURO
&RQWUROUHPRWH FRQWURO9&5VHQGHGΒ³UHDO WLPHΒ΄ QRZ WKHUHΒΆVIDVWIRUZDUG SOD\EDFNUHFRUG
,QJOHKDUW
,QJOHKDUW
,QJOHKDUW
,QJOHKDUW
(PSRZHUPHQW
(PSRZHUPHQW
(PSRZHUPHQW
(PSRZHUPHQWPRGHO
PRGHO
PRGHO
PRGHO
6\VWHP
6\VWHP
6\VWHP
6\VWHPOHYHO
OHYHO
OHYHO
OHYHOξ‚Ÿ
ξ‚Ÿ
ξ‚Ÿ
ξ‚Ÿ,QGLYLGXDO
,QGLYLGXDO
,QGLYLGXDO
,QGLYLGXDO ξ‚Ÿ
ξ‚Ÿ
ξ‚Ÿ
ξ‚Ÿ6\VWHP
6\VWHP
6\VWHP
6\VWHPOHYHO
OHYHO
OHYHO
OHYHO
FKDQJHV
FKDQJHV
FKDQJHV
FKDQJHVOHYHO
OHYHO
OHYHO
OHYHOFKDQJHV
FKDQJHV
FKDQJHV
FKDQJHVFRQVHTXHQFHV
FRQVHTXHQFHV
FRQVHTXHQFHV
FRQVHTXHQFHV
6DWLVI\EDVLFξ‚‘,QFUHDVHG
1HHGV QHHGIRU
VHOIUHDOL]DWLRQ
5LVLQJ OHYHOVRI 5LVHRI HOLWH FKDOOHQJHV
(GXFDWLRQ ,QFUHDVHGΓ’
SROLWLFDO
([SDQVLRQ RI VNLOOV
FRPPXQLFDWLRQ
([DPSOHV
([DPSOHV
([DPSOHV
([DPSOHVRI
RI
RI
RI (OLWH
(OLWH
(OLWH
(OLWH&KDOOHQJHV
&KDOOHQJHV
&KDOOHQJHV
&KDOOHQJHV
FKDOOHQJHWRSUHVLGHQWSLFWXUHRI &OLQWRQ RQ IDNHELNH DGG ZLWKLPSRWHQFHVHDW



FKDOOHQJHWRGRFWRUV$,'6VDFWLYLVWVFKDQJHGPHGLFLQH E\ SXVKLQJ GUXJ FRFNWDLOV
0LWFK/DNH FKDQJHGFRQVWLWXWLRQ &KDUORWWHWRZQDFFRUGV
x
x
x
x3RVWPRGHUQLVP
3RVWPRGHUQLVP
3RVWPRGHUQLVP
3RVWPRGHUQLVPIURP
IURP
IURP
IURP WH[Wξ€Œ
WH[Wξ€Œ
WH[Wξ€Œ
WH[Wξ€Œ



3RVWPRGHUQLVPLQYROYHVWKH HFOHFWLFPL[LQJ RI FXOWXUDOHOHPHQWVIURPYDULRXV WLPHVDQG SODFHV
2QHΒΆV VHQVHRI WLPH DQG SODFH EHFRPHVIUDJPHQWHGDQG XQVWDEOH
3URJUHVV EHFRPHVXQFHUWDLQ XQLI\LQJ YDOXHVDQG EHOLHIVFHDVHWRH[LVW
([DPSOHV
'LVQH\ODQG LVHYHU\ZKHUHIURP7RN\R WR)UDQFH
7RXULVWVLQ0XVOLPFRXQWULHVPXVWVWD\VHJUHJDWHGIURP JHQHUDOSRSXODWLRQ
3RVWPRGHUQLVPWUHQG
www.notesolution.com
Unlock document

This preview shows pages 1-2 of the document.
Unlock all 7 pages and 3 million more documents.

Already have an account? Log in

Get access

Grade+20% OFF
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers
Class+
$8 USD/m
Billed $96 USD annually
Class+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
30 Verified Answers