Due to recent hurricanes,orange growers in Florida have lost millions of dollars.As a result,some growers have decided to bulldoze their orange groves and put in freshwater lakes for raising shrimp,a popular product that is more weather-resistant.What type of strategy are former orange growers who are now raising shrimp pursuing?

Question

Quizplus · Accepted Answer

The former orange growers who are now raising shrimp are pursuing a diversification strategy as they are expanding into a new product category (raising shrimp) in response to the loss incurred due to hurricanes that damaged their existing orange groves.

Due to Recent Hurricanes,orange Growers in Florida Have Lost Millions