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Diversification

In: The Management of Construction Firms

Author

Listed:
  • Jacqueline Cannon
  • Patricia M. Hillebrandt

Abstract

In this chapter, ‘diversification’ is defined as the process by which firms extend the range of their business operations outside those in which they are currently engaged. This broad definition includes (a) the process referred to as backward vertical integration — that is, the acquisition or development of businesses whose products are inputs to the firm’s own main operations, (b) forward integration — that is, the extension of the firm’s activities to those of the normal purchaser of its products, (c) horizontal diversification — that is, a movement into other markets not involving the firm in any vertical relationships as in (a) and (b) above. Any of these forms of expansion may take place either by internal development or by merger or takeover.

Suggested Citation

  • Jacqueline Cannon & Patricia M. Hillebrandt, 1989. "Diversification," Palgrave Macmillan Books, in: Patricia M. Hillebrandt & Jacqueline Cannon (ed.), The Management of Construction Firms, chapter 3, pages 31-43, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-13626-1_3
    DOI: 10.1007/978-1-349-13626-1_3
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