Diversification (Noun)
Meaning 1
The act of introducing variety (especially in investments or in the variety of goods and services offered); "my broker recommended a greater diversification of my investments"; "he limited his losses by diversification of his product line".
Classification
Nouns denoting acts or actions.
Examples
- The investment firm advised clients to consider diversification to minimize potential losses during economic downturns.
- Companies often use geographic diversification to expand into new markets and increase revenue streams.
- To mitigate risks, it is essential to engage in asset class diversification when creating a retirement portfolio.
- By diversification of its services, the long-standing family business managed to stay competitive despite changing market trends.
- The company's decision to engage in product diversification led to the successful launch of a new line of eco-friendly cleaning products.
Synonyms
Related Words
Meaning 2
The condition of being varied; "that restaurant's menu lacks diversification; every day it is the same".
Classification
Nouns denoting natural processes.
Examples
- The lack of diversification in the company's product line has led to stagnant sales and revenue.
- The city's cultural events need more diversification to attract a wider range of audiences.
- The restaurant's menu lacks diversification, offering the same dishes every day of the week.
- The teacher's lesson plans need more diversification to cater to students with different learning styles.
- The music festival's lineup needs more diversification, as it features the same genre of music every year.