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________ Diversification Is When a Firm Enters a Different Business

question 23

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________ diversification is when a firm enters a different business that has little horizontal interaction with other businesses of a firm.


Definitions:

Groupthink

A psychological phenomenon in groups where the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Arbitrary Approach

A method or decision-making process based on individual preference or random choice rather than any reason or system, often leading to inconsistency.

Conflict Manager

An individual or role responsible for handling and resolving conflicts within organizations or groups, often using mediation and negotiation skills.

Thomas-Kilman Conflict Model

A model identifying five strategies to handle conflict: avoiding, accommodating, competing, compromising, and collaborating.

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