Semway, a regional bank, recently announced that it would soon begin offering financial planning services. This is an example of:
A) related diversification.
B) unrelated diversification.
C) cross-functional diversification.
D) product line diversification.
E) vertical integration.

Question

Quizplus · Accepted Answer

Semway is expanding its business within the financial industry by adding financial planning services. This is an example of related diversification, which involves expanding into a new market or industry that is related to the company's existing business.

Semway, a Regional Bank, Recently Announced That It Would Soon