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Name: Joyce Msiru
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Business Diversification

One way to grow a business is by diversification. The company should look at ways of spreading the risk if it is experiencing or expecting a downturn, it also has to look at increasing its sales revenue and operating profit. Whatever the reasons the company intends to diversify, it has essentially have three options which are; find new products for existing customers, find new customers for existing products and find new products for new markets.