Diversification Strategy Homework Help
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Diversification strategy is a type of strategy employed by organizations to expand their business by adding products, markets, services, etc. It is a form of growth strategy that involves increase in sales and market share. It is mentioned in Diversification Strategy Homework Help that there are three types of diversification strategies- horizontal, conglomerate and concentric. As explained in Diversification Strategy Homework Help, if a firm fails to meet its growth target by intensive growth strategies then diversification strategy comes into play. It is the basic idea to expand business and to minimize the risk of loss in the same. Diversification Strategy Homework Help also discusses different types of diversification strategies with their examples.
Advantages of Diversification
Some advantages of diversification mentioned in Diversification Strategy Homework Help are given below
• Diversification strategy helps organizations by adding new products to its business. Thus, loss in one product would be compensated by the profit made in other products.
• As illustrated in Diversification Strategy Homework Help, the normal functioning of the firm is not affected by diversification strategy.
• A diversified firm has more products and more resources that eventually generate higher profits. Thus, the firm is more competitive as compared to that of a single product firm.
• Diversification strategies are better than intensive growth strategies, as the former has wide scope for profitability and growth.
• It basically categorizes products into different sections thereby minimizing the risk of loss in a business. Other advantages of diversification strategy can be studied in Diversification Strategy Homework Help.
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