Question

In general, ________ refers to the corporate-level strategy of expanding a company’s business operations into a new industry in order to produce new kinds of valuable goods or services.

Answer 1

Diversification

Step-by-step explanation:

Diversification occurs when business expands its operations to include new product and service offerings different from what the company produces initially.

At the government level, diversification occurs when government authorities develop other sectors just to increase revenue. For example many developing countries are commodity dependent economies (Angola is heavily dependent on oil export to generate revenue). To diversify, the government may want to develop the agricultural and services sectors of their economy to earn more revenue.