0
Specialization refers to the process where individuals or entities focus on a specific task or area of expertise to increase efficiency and productivity. Diversification, on the other hand, involves expanding into different areas or markets to reduce risk and enhance overall stability. In a business context, specialization can lead to improved quality and speed, while diversification can protect against market fluctuations and create new revenue streams. Together, they represent different strategies for growth and risk management.
What else can I help you with?
Limits of specialization in production in economics?
1. The specialization is limited by extent or the market. It can only happen if there is longer population 2. Specialization is limited by lack of self interest hired labor. 3. Difficulty in standardizing certain process. 4. Specialization as contrast to diversification.
What is the relationship between agriculture and specialization?
Agriculture uses specialization and specialization does not
What are some examples of specialization?
specialization is food:)
What factor describes the range of depth of individual jobs specialization?
specialization
Examples of diversification?
crops
Limits of specialization in production in economics?
1. The specialization is limited by extent or the market. It can only happen if there is longer population 2. Specialization is limited by lack of self interest hired labor. 3. Difficulty in standardizing certain process. 4. Specialization as contrast to diversification.
What are diversification?
Different diversification rates for two clades of animals.
What is supplemental diversification?
Different diversification rates for two clades of animals
What are Diversification Rates?
Different diversification rates for two clades of animals.
When is a company likely to choose related diversification and unrelated diversification?
Hell to the prof
What is a synonym for specialization?
specialization
What is the relationship between agriculture and specialization?
Agriculture uses specialization and specialization does not
What is related diversification?
Related diversification occurs when a company expands its existing products or markets.
What are the major advantage and disadvantage of concentric diversification?
what are the major advantage and disadvantage of concentric diversification?
Does Google apply unrelated diversification?
Google applies many different types of diversification.
When did Nepal start trade diversification?
5 years plan Nepal adopted trade diversification
What are some examples of specialization?
specialization is food:)
