Richard could see the demand for towable recreational vehicles declining so beginning in the early 1970s he used his equipment, employee, and professional network to design and build utility trucks, a more recession-resistant industry.This is an example of:
A)serendipity.
B)diversification.
C)innovative thinking
D)market ideas.

Question

Quizplus · Accepted Answer

Richard's decision to shift his focus from towable recreational vehicles to the more recession-resistant industry of utility trucks is an example of diversification, which involves expanding a company's product offerings into new markets or industries to reduce risk and increase profits.

Richard Could See the Demand for Towable Recreational Vehicles Declining