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Answer :
Final answer:
The salad dressing company is practicing backward vertical integration by buying an olive grove to produce olive oil, a key ingredient in salad dressings.
Explanation:
The salad dressing company is practicing backward vertical integration. Vertical integration refers to a company acquiring other companies that encompass all aspects of a product's lifecycle. In this case, the salad dressing company has bought an olive grove to produce olive oil, which is a key ingredient in many salad dressings. By owning the source of the raw material, the company now has more control and can ensure a steady supply of olive oil for its salad dressings.
Examples of backward vertical integration in other industries include a soda company buying a sugar cane plantation or a car manufacturer acquiring a tire company.
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