Diversification Strategies

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Diversification Strategies
Let’s explain diversification of a company first; I myself thought it meant something totally different. A diversified company is a company that has multiple unrelated businesses. Those different businesses require separate management teams, have different customers, and produce different products or sell different services. One of the advantages of being a diversified company is that can create a separation from issues of one of the other businesses.
Companies can become diversified by starting a new business on its own or merging with an existing company. Also they could purchase another company that produces a different product or provides a different service. One of the challenges of diversification
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3M’s Industrial and Transportation division also serves the transportation market with products for the manufacture, repair and maintenance of automobiles, aircraft, boats and other vehicles. Safety, Security and Protection Services is another division gives people peace of mind about what matters most: the people, property and processes that they need every day. The main product lines here include personal protective equipment, systems to prevent counterfeiting of documents and goods, reflective materials for personal safety, window films for antiblast security, energy savings and cleaning, as well as maintenance and fire protection products for buildings. Basically, 3M is everywhere. 3M creativity can be found in your homes with e.g. the Filtrete Ultra Slim Air Purifier, but 3M ingenuity is also used on the roads for visibility, safety and brand identity with e.g. the Scotchlite Reflective Material on garments or the Scotchprint Graphics refreshing the outside look of buildings. 3M Technology can also be found in commercial buildings with products such as the Di-Noc Self-Adhesive Films, in Hospitals with e.g. surgical drapes, or in libraries with the RFID tags. 3M Innovation enables the industry of course with abrasives or adhesives, but also with the ACCR cable used by utility companies. 3M brings even the future closer with products for high-speed trains, airplanes and even touch

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