Question
Alternative route to diversification strategy
Answer :
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In strategic management, an alternative route to diversification strategy involves expanding a firm’s operations into new products, services, or markets that are different from its existing business, but without relying solely on traditional methods like mergers, acquisitions, or internal development. One such route is strategic alliances and joint ventures, where companies collaborate with other firms to access new markets or technologies while sharing risks and resources. This approach allows firms to diversify without heavy capital investment and can provide faster market
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