Sociology, asked by prateekrggupta3232, 1 year ago

The role of diversification in strategic management

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Answered by OSV1234
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Diversification is a corporate strategy to enter into a new market or industry in which the business doesn't currently operate, while also creating a new product for that new market. This is the most risky section of the Ansoff Matrix, as the business has no experience in the new market and does not know if the product is going to be successful.

Diversification is one of the four main growth strategies defined by Igor Ansoff's 

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