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Unlike other strategies that build upon existing strengths, diversification requires venturing into uncharted territory, where the organization may have little or no prior experience. It is considered the riskiest strategy because it requires both product and market development. Introducing any product into a new market involves a lot of research.
Diversification is a corporate strategy to enter into or start new products or product lines, new services or new markets, involving substantially different skills, technology and knowledge. Diversification is one of the four main growth strategies defined by Igor Ansoff in the Ansoff Matrix : [ 1 ]
Market penetration is the key for a business growth strategy stemming from the Ansoff Matrix (Richardson, M., & Evans, C. (2007). H. Igor Ansoff first devised and published the Ansoff Matrix in the Harvard Business Review in 1957, within an article titled "Strategies for Diversification". The grid/matrix is utilized across businesses to help ...
7 Diversification Strategies for a Resilient Retirement Portfolio. Jordan Rosenfeld. December 20, 2023 at 4:01 AM. Pears2295 / Getty Images.
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Value averaging is an investment strategy that advocates adjusting how much you put into the market each month based on your specific goals and how your portfolio is performing. That type of ...
Non-incremental diversification is a strategy followed by conglomerates, where the individual business lines have little to do with one another, yet the company is attaining diversification from exogenous risk factors to stabilize and provide opportunity for active management of diverse resources.
Diversification (finance) involves spreading investments; Diversification (marketing strategy) is a corporate strategy to increase market penetration; Diversification of firms through mergers and acquisitions