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Diversification (1)
DIVERSIFICATION (1)

Definition: (especially of a business or company) The process of developing a wider range of products, interests, skills, etc. in order to be more successful or reduce risk.
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* All six elements should be in.


1. Purposeful and considered necessary to diversify.

2. Area(s) expanded into is/are not illicit or illegal area(s).

3. Well-researched and thought out, with appropriate planning, timing arrangements, etc. concluded, before expansion takes place.

4. No unjustifiable job losses from the decision to expand.

5. Areas expanded into will bring profit for the business.

6. Development achieves goal(s) or serves purpose(s).
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