Friday, 10 November, 2023
Diversification is a strategic choice companies make to enter new business sectors, aiming to spread risk, capture new opportunities, and create long-term value.
While diversification can be a powerful growth strategy, it comes with various risks and opportunities. Successful diversification can create multiple benefits, ultimately generating long-term value for the company and its stakeholders. However, a poorly executed diversification strategy can turn a venture into ‘diworsification’, resulting in financial setbacks and damaging the brand's reputation.
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