Jake is owner/CEO of a local car wash business; he operates several outlets in the area. To grow his portfolio of business and to take advantage of his expertise, he decides to open a boat detailing business and a window washing business. Based on the given information, Jake is adopting a(n)
A)concentration strategy.
B)differentiation strategy.
C)concentric diversification strategy.
D)conglomerate diversification strategy.
E)lateral diversification strategy.

Question

Quizplus · Accepted Answer

Jake is adopting a concentric diversification strategy because he is expanding into new but related business areas, leveraging his expertise in washing and detailing services.

Jake Is Owner/CEO of a Local Car Wash Business; He