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Diversification
A strategy of reducing risk by owning a variety of investments or business operations across different industries or categories.
Mechanistic Structures
Describes organizational forms that are highly bureaucratic, with strict rules, procedures, and a clear hierarchy of authority.
Formalization
The process of creating or implementing formal rules, procedures, and structures within an organization to standardize operations and behaviors.
Standardization
The process of implementing and developing technical standards to ensure consistent, quality processes and products.
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