Recently, however, the business climate has attracted many different types of companies to the state, and, as a result, the state has experienced that has allowed other industries to take a more prominent role in Texas's economy

Question

Business

Gilbert

29 September, 05:11

Recently, however, the business climate has attracted many different types of companies to the state, and, as a result, the state has experienced that has allowed other industries to take a more prominent role in Texas's economy

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Answers (1)

Know the Answer?

Doyle · Answer 1

The correct answer is economic diversification.

Explanation:

It is known as diversification to the process by which a company goes on to offer new products and re-enters through corporate acquisitions or by investing directly in new businesses. There are two types of diversification depending on whether there is some kind of relationship between the company's old and new businesses. The reason why companies diversify is the search for synergies or a reduction in the overall risk of the company. Diversification is one of the four market strategies defined in the Ansoff matrix.