Modern Trends in Business Diversification

Abstract

This article is devoted to the identification of modern trends of business diversification and their analysis. In the first part, it examines the definition of the term business diversification and outlines its main advantages. Then the author emphasizes and reviews in detail three current trends in business diversification. Each trend is supported by several illustrative examples of well-known companies. Special attention is paid to diversification in the oil and gas industry because in today's world, where governments and consumers are more concerned about the environment than ever before, the activities of this sector have a rather controversial reputation. In conclusion, the author makes a rather promising forecast of the renewable sources market activity and stresses the importance of the considered diversification trends in the further development of the business strategy.