Date of Conferral
2023
Degree
Doctor of Business Administration (D.B.A.)
School
Information Systems and Technology
Advisor
Gregory Uche
Abstract
A lack of diversification strategies can negatively impact business profitability. Business managers of small and medium-sized enterprises who implement appropriate diversification strategies can improve business profitability, ensuring the firm’s sustainability. Grounded in the modern portfolio theory, the purpose of this qualitative single case study was to explore diversification strategies business managers use to improve profitability. The participants were five business managers who successfully used diversification strategies to enhance business profitability. Sources for data collection were semi-structured interviews, company archival documents, and field notes. Data were analyzed using thematic analysis. Four themes emerged: concentric diversification strategy, horizontal diversification strategy, customer needs and technology, and new and online markets. A key recommendation for business managers is to diversify services and products similar to the existing products and services. The implications for positive social change include the potential for business managers to create job opportunities, provide social amenities and welfare, and promote the economic development of rural communities.
Recommended Citation
Itiola, Kayode, "Diversification Strategies Business Managers Use to Improve Profitability" (2023). Walden Dissertations and Doctoral Studies. 14208.
https://scholarworks.waldenu.edu/dissertations/14208
