Which of the following best describes the strategy of diversification?
A) It requires a firm to enter a supplier's business.
B) It requires a firm to move into new value chains.
C) It requires a firm to enter a buyer's business.
D) It requires a firm to get involved in new portions of the value chain.
E) It requires a firm to sell its existing products in new markets.

Question

Quizplus · Accepted Answer

Diversification involves a firm expanding into new value chains, which means entering different industries or markets that are distinct from its current operations.

Which of the Following Best Describes the Strategy of Diversification