Bus 508 Assignment 2 Competitive Strategies

Diversification Strategies: Best Buy vs. Circuit City

Diversify, diversify, and diversify! It's something repetitively said to high-schoolers seeking pre-college extra-curricular memberships, employees seeking investment options, as well as businesses seeking to remain viable. But what is diversification? Diversification as it relates to business is defined as a "business development strategy allowing a company to current products, services, and markets" ("What is diversification?" 2011). This strategy enables a corporation several key benefits such as enhanced shareholder value, distribution of risks across several related or unrelated businesses, as well as the ability to offer lower prices than their competitors. Additionally, the company...