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Portfolio diversification

How might a manufacturing firm diversify its "portfolio" in order to mitigate risk?

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In today's uncertain and highly competitive business environment where trends and market conditions change suddenly, it is always for businesses like manufacturing concerns to diversify their current "portfolio" of products by expanding into newer product categories in the same industry or related industries. For example, an automobile manufacturer producing sedans can ...

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How might a manufacturing firm diversify its "portfolio" in order to mitigate risk?

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