Richard could see the demand for towable recreational vehicles declining, so beginning in the early 1970s he used his equipment, employees, and professional network to design and build utility trucks-a more recession-resistant industry. This is an example of

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Richard's decision to shift his focus to building utility trucks is an example of diversification, as he diversified his business into a new industry that he believed would be more recession-resistant than his previous focus on towable recreational vehicles. This was a strategic move to minimize risk and maintain profitability.

Richard Could See the Demand for Towable Recreational Vehicles Declining