Peruse the business group listings for Ingersoll Rand shown as follows and listed at its website (company.ingersollrand.com). How would you characterize the company’s corporate strategy? Related diversification, unrelated diversification, or a combination related-unrelated diversification strategy? Explain your answer.

Club Car—golf carts and other zero-emissions electric vehicles Thermo King—transportation temperature control systems for truck, trailer, transit, marine, and rail applications Ingersoll Rand—compressed air systems, tools and pumps, and fluid handling systems Trane—heating, ventilating, and air conditioning systems American Standard—home heating and air conditioning systems ARO—fluid handling equipment for chemical, manufacturing, energy, pharmaceutical, and mining industries