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Recently the top management of Lucky cement decided to start a new business in completely new market with new product lines i.E. Lucky One Mall. Identify the corporate level strategy used by the firm.
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Recently the top management of Lucky cement decided to start a new business in completely new market with new product lines i.E. Lucky One Mall. Identify the corporate level strategy used by the firm. Justify your answer.

User Ebonee
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Answer:

Diversification

Step-by-step explanation:

Corporate level strategy is a decision made by the top management of a firm with the aim of seeking new business methods to expand an already existing business. Diversification is a corporate level strategy in which an organization ventures into a completely new market with new product lines. The diversification could be related to the existing products the company operates (concentric diversification) or to an unrelated market(conglomerate diversification).

When Lucky Cement decided to start a new business in completely new lines, they have just embarked on diversification. The diversification might also be to just one product or different products.

User MELWIN
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