Due to recent droughts, wheat growers in Saskatchewan have lost millions of dollars. As a result, some growers have decided to bulldoze their wheat fields and put in freshwater lakes for raising shrimp, a product that is popular and more weather-resistant. Which type of strategy are former wheat growers who are now raising shrimp pursuing?

Question

Quizplus · Accepted Answer

The former wheat growers who are now raising shrimp are pursuing a diversification strategy by entering into a new market with a different product that is more weather-resistant and profitable.

Due to Recent Droughts, Wheat Growers in Saskatchewan Have Lost