A strategy for company growth through starting up or acquiring businesses outside the company's current products and markets is called ________.
A) vertical integration
B) market development
C) diversification
D) market penetration
E) product development

Question

Quizplus · Accepted Answer

Diversification involves expanding a company's business by starting up or acquiring businesses outside of the company's current products and markets. This can potentially lead to increased revenue and profit by tapping into new customer segments and industries. Vertical integration involves acquiring or creating businesses within the same industry supply chain, while market development, product development, and market penetration involve expanding within the company's current markets and products.

A Strategy for Company Growth Through Starting Up or Acquiring