diversification
Pronunciation:
/daɪˌvɜːsɪfɪˈkeɪʃən//daɪˌvɝsɪfɪˈkeɪʃən/noun
Definitions
The act, or the result, of diversifying.
A corporate strategy in which a company acquires or establishes a business other than that of its current product.
An investment strategy involving investing in a range of assets with differing features in order to reduce specific risk.