Hp corporate level strategy of diversification

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Hp corporate level strategy of diversification

Diversifying into new business areas not only gives you the opportunity to significantly increase your income, but it also protects you in the event your core business takes a temporary or long-term nosedive.

Hp corporate level strategy of diversification

Analyze diversification strategies based on their potential revenues and affect on your core business to achieve them. Diversification Diversification means branching out into new business opportunities, not just expanding your existing business.

For example, if you have a dine-in restaurant in one town, opening a second restaurant in the next town is expansion, not diversification. Adding corporate catering is an example of diversification. Offering cooking classes during the mornings, when you are not open for breakfast, would be another example of diversification.

Reasons for Diversification Before you begin planning a diversification strategy, write the reasons you are considering doing so.

Your company might be too dependent on one product or a handful of customers, which could have devastating consequences if you see new competition or one or two customers leave you.

You might have built business relationships or a customer base that make it easy to enter a new market. Once you know exactly why you are considering diversifying, you can better look at the specific advantages and disadvantages of doing so.

Unrelated Strategies As you consider diversifying, decide if you want to stay in a related business or go into a completely different market. Staying within your market lets you use your contacts, brand and customer base, such as a pet sitter offering grooming services. Going into a new market, such as a pet sitter opening a landscaping business, offers more protection against a downturn in a specific industry.

Moving into a related business can damage your brand if the new effort fails. Starting a business in a completely new area will often require more time and money, since you are starting from scratch.

Brand Diversification In some cases, you can diversify by selling the same product, or a similar one, under a different name. Considerations When choosing diversification strategies, look at your current customer base to determine if you can sell them different items or if you can add new customers by selling them a similar product at a different price or under a different name.

Review your current suppliers, sales reps and distribution partners to determine if you can use them to sell different products, reducing your start-up costs. Calculate the ongoing operating costs and stress on your administration of a diversification strategy and determine if you can support two different businesses or product lines.

Consider the impact of one product line competing with the other if you will sell similar items. References 2 Berlin School of Economics: He has worked in the corporate and nonprofit arenas as a C-Suite executive, serving on several nonprofit boards.

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Hp corporate level strategy of diversification

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Financing is made so much easier when you can speak to someone who understands the importance of . The Corporate Diversification Strategy If, and when, senior management decides that a single business corporate strategy is no longer likely to be successful, it may decide to . January.

Construction has started for Inzai Logistics Centre, a joint development between Mapletree and ITOCHU. Scheduled to be completed by March , this five-storey building in Chiba Prefecture, Japan, will have a total GFA of , sqm. The Chrysler company was founded by Walter Chrysler on June 6, , when the Maxwell Motor Company (est.

) was re-organized into the Chrysler Corporation.. Chrysler had arrived at the ailing Maxwell-Chalmers company in the early s, hired to overhaul the company's troubled operations (after a similar rescue job at the Willys-Overland car company).

HP Is Bouncing Back With Diversification - HP Inc. (NYSE:HPQ) | Seeking Alpha