The post Business diversification of leading companies: Musk, Yandex, Holiverse appeared on BitcoinEthereumNews.com.

There are two distinct types of successful businessmen and, accordingly, business strategies. The first prefers to develop one business without being distracted by other spheres, even if they are quite appealing. This is what we call the “classic” type of businessman, typical for the pre-industrial and industrial times.  The situation changed at the end of the 20th century. That is when the term “startup” appeared. To be more precise, the word “startup” was first used in a Forbes article in August 1976.  Entrepreneurs of the past would have envied present-day entrepreneurs. Currently, you can do it all from your computer: organize logistics, purchase equipment, send goods, hire specialists. Technically, opening a new business has become quite simple. However, to succeed, in addition to technical capabilities, you need entrepreneurial skills, the ability to be in the right place at the right time and, of course, luck. Diversification of an existing business differs from a startup implemented from scratch. A business requires management experience, a professional team, and financial and material resources.  It is important to mention, we are talking about diversification, which involves the creation and development of new businesses, and not the acquisition of existing ones.  Today successful companies have a real technical opportunity to diversify their business. However, such expansion is not mainstream – the traditional approach still prevails, and diversification largely relates not to production and services, but to portfolios of stock market players. Big Business Romantic Perhaps, the most famous figure and number one person concerning startups is Elon Musk.  Musk’s strategy can be defined as infinite diversification. He chooses a new direction, very clearly states the strategy and mission of the business, finds partners and quickly moves on to implementation. Musk is not that omnivorous, he is interested in a beautiful business, preferably one that creates…

---

Filed under: News - @ October 23, 2024 6:23 am