Unrelated-product diversification involves entering another industry. Management Term Paper (Term Paper Sample)
3. Unrelated-product diversification involves entering another industry. How would the economies of scope influence managers to pursue unrelated-product diversification strategy? Also, how would the five forces analysis help companies in following unrelated-product diversification?source..
Subject and Section
August 11, 2020
Understanding the importance of market forces, internal circumstances, and strategic decisions are crucial for any manager. It allows him to be able to analyze the best course of a decision based on a given situation and decide for the most effective and efficient way of producing goods. Accordingly, one of the strategies that could be helpful in reducing costs is through the implementation of unrelated product diversification. With this strategy, the company undertakes a new service or adds a new product to its current line up that is different from its main products or even unrelated to its industry. For example, this could be seen in Samsung’s acquisition and production of different technologies outside the mobile devices that they usually offer.
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