Expansion and Diversification Within a Business - 1991 Words

Opportunities for expansion and diversification Diversification is a form of corporate strategy for a company. It seeks to increase profitability through greater sales volume obtained from new products and new markets. A business strategy in which expansion is obtained by increasing the number of products in which customers can purchase from a company s store/under the company’s name. Fred Greer was able to mention how the Wrightbus Company expand within the bus manufacturing sector, this is carried out as employees continue to carry out production of the highest standard and ensure their products are of the highest quality. As Wrightbus had so much work and business deals to carry out for customers all around the globe, they had to†¦show more content†¦From this, it is visible how much Wrightbus has expanded and grew since 1946 and will continue to work their business all around the world, by doing so promotes an enterprising business that want to strive for excellence. Fred Greer always said ‘we are expanding into overseas countries and these include Las Vegas, Singapore, Netherlands, Kansas, Ireland, Brazil and now India.’ This therefore displays how Fred and other managers within the Wrightbus Company are dedicated to getting the Wrightbus products well known all around the world so that new potential customers will be interested in i nvesting in their reliable, efficient, innovative products. Wrightbus stated that their reasons for expanding into the overseas markets were to take advantage of the gap that Wrightbus believed their products could fill. The Wrightbus Company was sure that their products could easily compete with international leaders, proving that they’re enterprising and are capable of entering into new markets and are confident that they can establish themselves as major competitors which other companies should watch out for. Wrightbus have the ability to compete with other companies all around the world and have the resources and also quality products to supple to a wide variety of international markets with high standard goods that may be seen as superior and better than competitor goods by consumers in an international market and expanding business around the world.Show MoreRelatedGeographic Expansion and Profits of Financial Institutions Essay1302 Words   |  6 PagesGeographic di versification is a necessity for any financial institution interested in growing and expanding. As financial institutions grow geographically, numerous issues may arise. Before any expansion planning can be done, financial institution managers must make a determination on the type of geographic expansion that best fits the financial institution and its goals. 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