diversification

Definitions

The process of enlarging or varying the range of products, services, or fields of operation of a business.

The practice of spreading investments among different financial instruments, industries, and other categories to reduce risk.

The act of becoming more diverse or varied.

Examples

The company's strategy for long-term growth relies heavily on the diversification of its product line.

Financial advisors often recommend portfolio diversification to help investors mitigate risk during market volatility.

Synonyms

variety variation multiplication expansion broadening assortment range

Antonyms

uniformity standardization homogeneity simplification concentration stagnation sameness