Answer:
Diversification is short means that the activities of the business are diversified or classified.
Explanation:
Diversification is the term which is defined as the process that involve the addition of the new services or the products, which significantly are unrelated and with no commercial as well as no technological similarities. For example, if a computer company, who decides or took a decision relating for producing the notebooks, then the company or the business is pursuing or following the strategy of the diversification.
The benefits or advantage which the business get from diversification is as:
Growth of business - When the company diversify their activities, they get more involved in the making their business to grow more and earn huge profit.
Help in focusing - It will help the management to be more focused on the activities that are more important for the business to grow and develop.
