Business Strategies and Diversification

These flashcards cover essential concepts related to business strategies, diversification types, and strategic formulation.

Concentration Strategy

Expanding focus within a single product/market.

Related Diversification

Entering a new business related to your company’s existing operations.

Unrelated Diversification

Entering a business unrelated to company’s existing operations.

Vertical Integration

Buying suppliers or customers.

Restructuring

Strategies aimed at reorganizing a company's structure or finances.

Divestiture

Selling off part of a business, such as a brand or subsidiary.

Retrenchment Strategy

A strategy used when a company is struggling, involving cuts back operations to reduce weaknesses.

Liquidation

The process where a company shuts down entirely and sells all assets to pay debts.

Strategic Formulation

The process involving key components such as cost and quality, knowledge and speed, barriers to entry, and financial resources.