Final answer:
Conglomerate with its feature of operating by divisions, is "appropriate for a large corporation with many product lines in several related industries."
Step-by-step explanation:
The business structure that is "appropriate for a large corporation with many product lines in several related industries," and operates by divisions, is a conglomerate. A conglomerate is a large corporation that owns a collection of smaller companies with diverse product lines, which can range from being related to completely unrelated to one another. This type of organization allows for strategic diversification, protecting the corporation from market fluctuations affecting one specific industry.
As an advantage, if one division of the conglomerate is not performing well, the success of the other divisions can offset this, thus shielding the corporation's overall profits. Furthermore, by focusing on multiple industries as opposed to a single product line or core competency, conglomerates spread their risk and have the potential for greater stability. It is also worth noting that some businesses find success by focusing on a limited range of products or their core competencies. However, for large corporations looking for diversification and protection against market volatility, a conglomerate structure with various divisions may be the preferred strategy.