Final answer:
Different businesses are said to be unrelated when they do not have any common product, market, or industry. In business, conglomerates are firms that own multiple businesses that produce unrelated products. Focusing on one or a few products, also known as core competency, is generally more successful than trying to make a wide range of products.
Step-by-step explanation:
In business, different businesses are said to be unrelated when they do not have any common product, market, or industry. These businesses operate in different industries, serve different customer needs, and do not have any direct competition with each other. For example, a company that manufactures automobiles and a company that produces household appliances are considered unrelated businesses.
Unrelated businesses can also refer to conglomerates, which are firms that own multiple businesses that produce unrelated products. These conglomerates diversify their portfolio to protect themselves from market fluctuations. If one business within the conglomerate fails, the other businesses can help sustain the overall profits of the conglomerate.
It is generally more successful for a business to focus on one or a few products, also known as its core competency, rather than trying to make a wide range of products. This allows the company to specialize and become more competitive in its specific market segment.