INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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. conglomerate diversification.
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horizontal integration.
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vertical integration.
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concentric integration
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Detailed explanation-1: -Answer: Concentric Diversification: It is similar to related diversification, wherein the new business entered into by the firm is associated with the existing business by way of process, technology or market. The newly entered product is a spin-off from the already existing facilities.
Detailed explanation-2: -Answer. Answer: Horizontal integration occurs when a firm enters a new business (either related or unrelated) at the same stage of production as its current operations.
Detailed explanation-3: -Concentric diversification Concentric diversification involves adding similar products or services to the existing business.
Detailed explanation-4: -Horizontal diversification is when you acquire or develop new products or services that are complementary to your core business and appeal to your current customers. For example, an ice-cream business adds a new type of confectionary into its product line.
Detailed explanation-5: -Serial entrepreneurs own more than one business at a time.