When a company decides to grow through diversification, what are the implication

Preparing for diversification is not dissimilar to starting a new business. It is necessary to adequately research the new market, its customers, competition and dynamics which is just what you do for a new business, as well as to develop your marketing plan. Diversification is a big responsibility and commitment and you have to be careful in studying the new business (industry) and planning the diversification process. This will be necessary to develop the correct strategy for project development, as well as your everyday operation.