How can companies benefit from related diversification? Unrelated diversification? What are some of the key concepts that can explain such success?
Answer to relevant QuestionsWhat are some of the important ways in which a firm can restructure a business? Discuss some examples from business practice in which an executive’s actions appear to be in his or her self-interest rather than the corporation’s well-being. Explain the two opposing forces—cost reduction and adaptation to local markets—that firms must deal with when they go global. Many large U.S.-based management consulting companies such as McKinsey and Company and the BCG Group have been very successful in the international marketplace. How can Porter’s diamond explain their success? Explain the difference between strategic actions and tactical actions and provide examples of each.
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