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Dawn owns a chain of very successful cheese shops. She has decided to use some of her profits to open a furniture store specializing in furniture made from sustainably sourced wood. This is an example of the _____________ growth strategy?

Answer :

This is an example of the Diversification Growth Strategy.

What is a Diversification Growth Strategy?

A growth strategy known as diversification is expanding your business into a new market or industry while also developing a new product specifically for that market.

There are six well-known categories of diversification tactics:

  • Vertical diversification
  • Vertical diversity
  • Diversity within a group.
  • Diversification inside conglomerates.
  • Diversifying defensively.
  • Diversity in the offense.

The goal of diversification is to enable the corporation to enter business sectors that are distinct from its current operations.

By investing in assets that cover a variety of financial instruments, industries, and other categories, diversification lowers risk. While systematic or market risk is typically unavoidable, unsystematic risk can be reduced by diversification.

To know more about Growth Strategy refer to:  https://brainly.com/question/14546783

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