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"Stick to the Core or Go for More" by Thomas J. Waite

Advaark is a fair size firm with yearly billings of $550 million, it is a New-York based advertisement agency, primarily focusing on the creative implementation of advertisement campaigns. It has 400 representatives and attempting to get into the counseling field. The firm was established by George Caldwell and Ian Rafferty, who is also the co-founder of the organization. Advaark has its center competency in creative advertisements. Over time, they had picked up great clients like GlobalBev, a multibillion-dollar organization known for its food and drinks. Eventually, George Caldwell and Ian Rafferty assembled trust and long-haul relationships with their clients in light of their past involvement. They had been known for promoting organizations for a very long time and for creating remarkable advertisements. Because of this successful interaction with clients, the company has set an upper hand in the industry it is in. While the company is known for this expertise, it is hard for them to move and establish another business. Advaark is looking into moving to the strategy counseling field. But this might seem a risk for the company as it has no skill in starting another business, and it may bring about disappointment.

Question: Explain whether Should Advaark stick to its core business or diversify? Explain your reasoning and come up with a plan to negate or minimize the negative consequences that are likely to arise from your proposed recommendation.