Diversification is an external growth strategy in which the firm expands its scope to include businesses competing in different markets.

Name: Diversification is an external growth strategy in which the firm expands its scope to include businesses competing in different markets.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Diversification involves a company expanding its operations into different markets or product lines, which is an external growth strategy as it involves entering new areas outside the company's current operations.

Diversification Is an External Growth Strategy in Which the Firm