Asked by Melissa Chute on Jun 09, 2024
Verified
A ___ strategy involves growth through expansion within the same business area.
A) concentration
B) diversification
C) related diversification
D) unrelated diversification
E) vertical integration
Concentration Strategy
A strategy in which a company focuses its resources on entering or expanding in a narrow market or industry segment.
Expansion
The process of increasing the size, scope, or scale of operations of a business or organization, often into new markets or areas.
Same Business Area
Describes businesses that operate within the same sector or industry, often sharing similar market characteristics or target customers.
- Differentiate between a range of strategies for growing a business, such as concentration, both related and unrelated diversification, forward, backward, and vertical integration, and retrenchment.
Verified Answer
Learning Objectives
- Differentiate between a range of strategies for growing a business, such as concentration, both related and unrelated diversification, forward, backward, and vertical integration, and retrenchment.
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