diversification
/dʌɪvəːsɪfɪˈkeɪʃ(ə)n
/noun [mass noun]
1The action of making or becoming more diverse or varied: growers should start planning diversification of crops studies have examined the diversification of plant species in Asia...
- In effect, private accounts reduce the extent of retirement income diversification, exposing workers to greatly increased risk.
- The movie also ignores the reality of the ethnic diversification of the American South in recent years.
- Agricultural goods continued to be the primary source of employment and exports in most African countries, with little diversification.
1.1The process of a company enlarging or varying its range of products or field of operation: the company is benefiting from geographical diversification diversification into other markets is worth exploring...
- We have been mindful of the need to balance business diversification opportunities with the necessity to abide by the rules of the scheme.
- Predictably, perhaps, the industry's successive waves of expansion and diversification have been led by its major corporate players.
- In 1981, the company reversed course again and returned to diversification and consumer goods.