______ Means Moving into Totally Different Lines of Business, Perhaps

question 25

Multiple Choice

______ means moving into totally different lines of business, perhaps entirely unfamiliar products, markets, or even levels in the production-marketing system.

• A) Diversification
• B) Market development
• C) Product development
• D) Differentiation
• E) Market penetration

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Definitions:

Profit Center

A division or segment of a company that is directly responsible for generating its own revenues and profits, often evaluated on its individual financial performance.

Investment Center

A segment or area of a business responsible for generating revenue as well as controlling its own costs and investments.

Balanced Scorecard

A performance evaluation approach that incorporates multiple performance dimensions by combining financial and nonfinancial measures.

Nonfinancial Measures

Performance indicators not based on financial data, often used to assess aspects like customer satisfaction, employee turnover, or production quality.