Question

Discuss how related diversification strategies can produce cross-business strategic fits capable of delivering competitive advantage.

Answer 1

Answer-

Related diversification is a procedure of creating and growing the assortments of the item offerings, by including new product offerings in a similar industry.

The related diversification Strategy can produce cross business Strategic fit, capable for improving the competitive quality of the business in different markets.

Following are the strategic benefits, that conveys the competitive advantage with related diversification;

- incorporated utilization of gracefully chain forms, as a significant operational action, supporting diverse product offerings, and dispersing the expenses between or among the every business units.

- increasingly particular and expertised work force can be utilized and moved to the new items' unit, to use more adequacy and addition competitive advantage in the market.

- Innovativeness and headways are advanced with coordinated effort and reconciliation.

information sharing and utilization of assets are utilized in an upgraded manner to increase monetary advantage and to remain in front of the opposition by creating more current and increasingly Innovative items.

- brand names could be the significant component that assists with creating more income from various items, and separate it with its uniqueness and ability to hold the clients.

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