Article: Specialization, Diversification, Integration
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Specialization, Diversification, Integration
Every business needs a core ? an area where it leads. Every business must therefore specialize. But every business must also try to obtain the most from its specialization. It must diversify.
The balance between these two determines the scope of a business.
Parents Magazine Enterprises had for thirty-five years been a successful publisher of magazines and books on and for children. In the autumn of 1963 it acquired F.A.O. Schwarz, the best-known American toy retail chain. This did not change its specialization at all. But it diversified the fields in which the company?s specialization is utilized.
Unilever also exemplifies balance between specialization and diversification. With five hundred companies operating in more than sixty countries, Unil...
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