Successful Diversification Checklist

Diversification is an organisational development strategy that sees an organisation enter new markets or create new activities that are different from its existing ones.

That is technically what is meant by diversification, but in reality, there are different degrees that could, arguably, be considered diversification to some extent. Those are:

– Providing your existing product or service to a very different new market
– Creating a new product or activity for your existing market
– Creating a new product or activity for an entirely new market

Diversification can be an important component of any company strategy. There are many examples throughout history of successful organisations moving into new areas.

There are different motivations for building and executing a diversification strategy for your organisation. Before you begin working through the 6 steps outlined in this guide, we will also take you through the steps to understand your reasoning behind diversification.

In this eBook youโ€™ll learn about:

  • Reasons to strategically diversify
  • Key tests on your chosen new market
  • Six questions to ask yourself and your team
  • Interactive workbooks to help you at each point
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