The Family Process Is Very Different For Each Unique...

The family process is very different for each unique family. There are a number of specific things that go into creating a family, such as, family paradigms, family rules, family finances, and gender. Some families excel in a few areas, while others struggle with almost all of them. It’s impossible to be perfect, especially in a family setting, but it’s important to look at the strengths and weaknesses in each area to decode how the family best works together and what they can improve on. Developing a strong family process is something that takes course over lifetimes, but conducting a thorough analysis is the first step in working towards improvement! Our family, the Kinworthy’s, is made up of five people: mom, dad, and their three girls, Taylor, Megan, and Hannah. Two of the girls are moved out of the family home and the last is approaching her senior year in high school, so it’s been interesting to look at how our family processes have developed over the years. Dad works four jobs (one full-time, three part-time) and mom works two part-time jobs. We grew up LDS, attending church with mom every week. Dad was never religious and usually did yardwork on Sundays. All of us girls grew up in the dance studio and on a stage, always encouraged to be creative and to develop our talents. Each family is unique, but fully analyzing my own family of origin will hopefully help me with my future family in developing the same strengths, while recognizing and avoiding theShow MoreRelatedAmerican Families At The University Of Mount Union1678 Words   |  7 PagesPrior to enrolling in American Families at The University of Mou nt Union, I had a predisposition to what I perceived a perfect family looked like. I envisioned a nuclear family with parents who are madly in love and children who thrive from tremendous emotional support. After weeks of studying the topic of American families more in depth in and outside of the classroom, my perception has changed. I have learned the important concept that every family is a unique, diverse unit. The service-learningRead MoreCultural Aspects Of Care During The Grief And Bereavement1055 Words   |  5 Pagespatient and family. Respecting cultural practices is key in providing care during this difficult time (Kazanowski, 2013). Cultural diversity refers to the differences between people based on a shared ideology and valued set of beliefs, norms, and customs (American Nurses Association). For example, it is important for the medical professional to realize that in Asian cultures, telling a patient directly that they have cancer is thought of as very cruel. In Hispa nic and Chinese cultures, family membersRead MoreConcept of Entrepreneurship1455 Words   |  6 PagesQ1. Discuss and define the concept of ‘entrepreneurship’. The entrepreneur is our visionary, the creator in each of us. Were born with that quality and it defines our lives as we respond to what we see, hear, feel, and experience. It is developed, nurtured, and given space to flourish or is squelched, thwarted, without air or stimulation, and dies. Michael Gerber The term entrepreneur has been around since the seventeenth-century, it originates from France, where the phrase â€Å"entreprendre† wasRead MoreReading And Writing About Family Guy : The Semiotics Of Stream Of Consciousness1619 Words   |  7 Pagesand Writing about Family Guy: The Semiotics of Stream of Consciousness† Lee Transue explains how Seth MacFarlane integrates his own unique version of stream of consciousness in the animated sitcom Family Guy to entertain its viewers. The reason Transue wrote this essay is he was invited by Dr. Johnathan Silverman to write a piece for the book, The World is a Text. He chose to write about Family Guy because of its popularity and he is a fan of the show. To begin the writing process, Transue sat downRead MoreEssay On Health Resource Analysis Worksheet1622 Words   |  7 PagesDescription Each person has the right to a meaningful life and the potential to make it happen. Spokane Guilds’ School Neuromuscular Center acknowledges this right. They also understand that exercising this right and tapping into this potential is harder for some members of the population than others. Spokane Guilds’ School Neuromuscular Center is a group designed to serve babies and toddlers from birth to age three with developmental disabilities or delays and provide aid to their families. TheirRead MoreCollin Labranche. May 9Th, 2017. Barosky. English 102.1227 Words   |  5 PagesHarrison’s essay describes the way our society perceives home much differently than the way Houyhnhnms do. In modern day, and more specifically in the 18th century the family system that we associate with views home as a place for love, family, and support. In comparison to the Houyhnhnms, they use the home as more a community area to gather. Each article by Harrison, Nichols, and Guenther a ll gravitate to look at Jonathan Swift’s perception of home and society in a literal sense but I would disagree. I believeRead MoreHeritage Assessment963 Words   |  4 Pagesrestoration of each individual’s cultural beliefs. The heritage assessment tool is often used by healthcare providers to help determine different cultural beliefs that may or may not impact an individuals care. The heritage assessment tool has been used to compare three different cultured families, health traditions, addressing health maintenance, health protection, and health restoration. During the interview process with the three different cultured families, the heritage assessment tool was very helpfulRead MoreChinese Culture1223 Words   |  5 PagesSocialization ------ American Born Chinese Children under Chinese Culture According to the American Heritage Dictionary, socialization is the process of learning interpersonal and interactional skills that are in conformity with the values of one s society (American Heritage). It is a process of learning culture. During socialization, children will acquire attitudes, norms, values, behaviors, personalities, etc. within agencies of socialization, which were described as Agencies of socializationRead MoreMy Philosophy Of Nursing Philosophy1481 Words   |  6 Pageshealthcare professionals, while working in different setting as a nursing in the health care. This also addresses nurse s ethics, goal and values as it relates to my nursing practice. My Nursing Philosophy is based on five components: nursing, Person, environment, holistic care and health. Person: One of the central concept in nursing care is person or human being (McEwen and Wills 2007). My nursing philosophy focused on treating each person as a unique individual that deserves to be valued andRead More Chinese Culture Essay1208 Words   |  5 Pages Socialization ------ American Born Chinese Children under Chinese Culture According to the American Heritage Dictionary, socialization is â€Å"the process of learning interpersonal and interactional skills that are in conformity with the values of ones society† (American Heritage). It is a process of learning culture. During socialization, children will acquire attitudes, norms, values, behaviors, personalities, etc. within agencies of socialization, which were described as â€Å"Agencies of socialization

Barbie Doll s Influence On Society - 1315 Words

â€Å"My whole philosophy of Barbie was that through the doll, the little girl could be anything she wanted to be. Barbie always represented the fact that a woman has choices,† Ruth says. (Inc, n.d) Ruth and Elliot Handler are the founders of Mattel creation and in 1959 the world was given the â€Å"Barbie† doll. (Inc, n.d.) The Barbie doll was introduced to a small toy fair costing $3. The Barbie doll was the first doll to be sold that doesn’t look, â€Å"like a baby† but more like a woman. The Barbie doll is an iconic doll available for anyone, anywhere. After further research, the Barbie doll has influenced body image and society that there is a â€Å"right way to look† to fit in consists of blonde hair, blue eyes, 5’8 or taller, long legs, small waist, big boobs and butt. This encourages women to think what they have is not good enough and they need to change it to look the best or the â€Å"norm.† The influences the Barbie doll h as had on body image are the â€Å"unrealistic Barbie,† and increasing eating disorder percentages. For every girl in the world there are most likely 3 Barbie dolls in their house hold. Barbie dolls are accessible at almost any store: grocery store, dollar general, Wal-Mart, and a Toy Shop. From the start at age 3 and older young girls are encouraged to play with dolls. They are encouraged to play with dolls are take the â€Å"mother† figure and act as if it is their own child. Barbie however shows a different approach where because it is a woman rather than a baby it allowsShow MoreRelatedThe Positive And Negative Effects Of Barbie Dolls964 Words   |  4 PagesNegative Effects of Barbie Dolls in Society All around our world we are constantly being told what we should act and be like for females and males. Barbie was born on March 9, 159 in the American International Toy Fair in New York. The Barbie doll has been influencing young girls ever since she was born. The Barbie doll have a huge influence on the way that girls perceive their role in society and also on the way they develop. Barbie dolls in some way reflect and influence our society values. EspeciallyRead MoreInfluence Of The Body Features Of Barbie On The Ideal Feminine Body1275 Words   |  6 PagesThe Influence of The Body Features of Barbie on The Ideal Feminine Body I. Introduction: Manufactured by the American toy company Mattel, Barbie has become the most famous and popular doll in the world. She has conquered more than 150 countries and over one billion Barbie dolls have been sold around the world since they were launched. Barbie is a young beautiful blonde who is rich and highly-skilled. Mattel claims that she can do more than 150 jobs and buy anything she wants, includingRead MoreThe New Body Types Are Petite, Tall And Curvy763 Words   |  4 PagesAfter 57 years since its creation, Barbie has finally obtained a new body. The three new body types are petite, tall and curvy. On January 28th, Mattel released these new dolls for sale on their website. Eliana Dockterman goes inside the company’s story to discuss the risks they re taking and what their decision says about American beauty standards. For generations, Barbie has been the global symbol of American beauty. The doll has been associated with the belief that it was designed â€Å"to teach wom enRead MoreFrom Little Girl to Sex Goddess: the Negative Influence of Bratz Dolls1346 Words   |  6 Pagestoday look to society for influences in how they should look and act. Children are influenced daily by television, Internet and video games, friends, and even the toys they play with. Boys grow up wanting to be like the superheroes and G.I. Joe figures they play with; girls look to their Barbies and dolls to see how society mandates teens and young adults to be. Bratz dolls are also among those Barbie-type toys that girls are looking up to these days. Bratz dolls are similar to Barbie in form; howeverRead MoreBarbie Role Model Essay1683 Words   |  7 PagesBarbie is more than just a doll for young girls, it became a role model for them. Barbie was a friend, a fashion archetype, and a stylist who transformed young girl lives. Many young girls were impacted with Barbie’s in a materialistic way. For instance, Barbie’s clothing style and accessories became an obses sion for young girls to be just like them. Young girls wouldn’t even play with other toys and only focused on their beautiful Barbie, who became their best friend. It was like these young girlsRead MoreBarbie the Teenage Fashion Doll Essay examples1212 Words   |  5 PagesThe idea of Barbie came about when a woman named Ruth Handler was watching her daughter play with dolls. In the 1950’s, girls of all ages only had paper or cardboard dolls to play with and preferred to play with cut outs of teenagers and adult dolls. So, Ruth Handler thought to make The Teenage Fashion Doll for older girls, as a three dimensional doll, called Barbie, named after her daughter Barbara (Heppermann 2010). However, Mrs. Handler met resistance when she went to her husband with the ideaRead MorePlastic Makes Perfect?814 Words   |  3 Pagesblonde Barbies? Barbie Dolls threaten young girls’ mental, emotional, and social health in major ways. There should be warning labels on Bar bie Dolls because they set ridiculous standards, reinforce the ideas of racism, and destroy the self-esteem of girls everywhere. Girls are worrying about their appearances earlier in life than ever before. They strive for perfection, which no one can attain, well, except for Barbie. Have you ever seen a woman who has the same body as Barbie? Probably not, consideringRead MoreEssay on The Face of Eating Disorders1599 Words   |  7 Pagesepidemic, the slender image depicted on the brochure: Mattel’s Barbie. â€Å"Inspired by her daughter’s fascination with cutout paper dolls, Ruther Handler suggests making a three-dimensional doll through which little girls could play out their dreams†¦ Barbie soon leads Mattel to the forefront of the toy industry and fascinates generations of young girls† (â€Å"Barbie Doll Makes Her Debut† 1). Barbie Millicent Roberts, more commonly known as Barbie, began her magnificent journey into 125 different careers,Read More Barbie Essays1716 Words   |  7 PagesBarbie Since the beginning of time, toys have often been an indicator of the way a society behaves, and how they interact with their children. For example, in ancient Greece, artifacts recovered there testify that children were simply not given toys to play with as in the modern world. The cruel ritual of leaving a sick child on a hillside for dead, seems to indicate a lack of attention to the young (Lord 16). The same is true of today’s society. As you can see with the number of toy storesRead MoreMarketing Barbie954 Words   |  4 Pages Marketing Barbie In order to put your product into to the market you have to develop a marketing strategy. A Market strategy is selecting a target market and maintaining a market mix that consists of product, price, promotion, and distribution. By doing this a company such as Mattel ensures that it is giving consumers what they want and they are creating a strategy for their product. One of Mattel s biggest products is Barbie. Barbie was introduced by Mattel in 1959 and

Business Models Matter Samples for Students †MyAssignmenthelp.com

Question: Why Business Models Matter? Answer: The business model concept has often been perplexed and misinterpreted leading to the numerous failures along with disbeliefs that it can work in most of the cases (Wirtz et al. 2016). It is often been seen as a preparation for each business in starting to produce massive profits and develop its positions within the market, even though it is stated to be crucial in knowing the ways in choosing and applying the same in every unique case. Therefore, the key aim of this paper is in evaluating the article by Joan Magretta Why Business Models Matter providing a deep insight on the models of the business and the ways they are being applied for improving the performance of business. The author has stated the dissimilarity between models of the business along with the strategy. The former one would be explaining the identity of the customers and the ways of making money through providing proper importance to the customers. A business model of sound nature has the ability in complementing a strategy in enabling the organization in thinking scrupulously about the factors of business aligning of the employees behind the mission of the company and beating of the toughest of rivals. A good model of business generally begins with an in-depth insight into the motivation of the humans that generally ends within rich stream of profit factor. The model of business generally tells the story in logical manner describing the customers, their real value. The article of Joan Magretta is of few years back, after which there has been lot of other researches along with new discoveries. Magretta has compared the models of business to a story that describes the way a company works. All the good stories, of itinerary, are the key characters, plots and motives taking into account the customers and the partners, the value assurance to the customer and the ways the value of the customers is being generated. According to Magretta, one of the most significant models of business ever has been a traveler. It has also been a good instance of an innovation in business model, where the main protagonists have been a traveler. The excellent model has been, in accumulation to the authentic value of customer, it has been lucrative. As a traveler, good model of business are in the habit of creating fresh demands and not just transferring the flows of cash between the players of existing nature or dividing the market in new way. On the other hand, Magretta is of the opinion that the overall business models are eventually only the value chain disparity. In the new model of business, the chain of value is thus only faintly dissimilar in terms of the ways value is being generated and the ways it would be delivered to the customers. Innovation within the models of business does not always require a product or service that is new, but has the ability in relating to a fresh way of administering a process for action. Although models of business does not frequently be the actual system of activity, however, every models of business boasts of a clear, methodical nature where it takes in the elements of the model and the relationship existing between them (Baden-Fuller and Mangematin 2013). The model of business should never be confused with the strategy, but at times can be complementary. This is for the fact that the model of business does not take in any sort of positioning the factor of competition, but this is completely a strategy to be dealt with. The model of business also does not cover up the areas like the strategic choices and options. The author squabbles to the key idea of the model of business in creating a story that would be determining its activity for the future. A business model of successful nature needs to be clarified on who the customers are and what are the key values of the customers. However, as per Bereznoi (2015), the key considerations that any model of business has is to realize the ways of money making in the selected field of business along with finding out in meeting the demand of the customers both by the products facet and the cost related to it. Implementing a new model of business is being aimed towards surrogating the existing practice with the fresh options that makes it more opportune along with valuable at the same time for the customers. A business model of progressive nature has the ability in completely reinstating the older ways of operating and establishing of the new standards within the industry (Arend 2013). It is usually being based on the old practices, however, the idea needs it to perfect the same and suggest on the fresh advancements of tackling the distinctive situations. In some of the cases, a new model generally finds a solution to the needs of the consumers that are still to be met or an innovation can be recommended within the process itself enabling the organizations in selling off an extant product in a fresh way (Boons et al. 2013). Business people search for different ways in creating the additional value to the customers along with their business through the pertaining of the new models of busine ss. The companys interest in producing and improving on the models of business is been explained by the capability of predicting the businesss deeds, environment along with the customers (Boonsand Ldeke-Freund (2013). The modeling of the business can organize the managers to the response from the external factors determining the companys enormous success. Calculations of precise nature along with the predictions needs to be made in order for assuring the effectiveness of the business model created. Profit is stated to be one of the significant measures of the effectiveness of the model of business as it has been demonstrating is the model toils with the same. If the outcomes that were being anticipated on the stage of the improving on the model are not being attained, the managers or the owners of the business needs to be prepared in reassessing of the model, implementing some of the changes in making the same work. Thus, as per Ovans (2015,) the modeling of business is stated to be a development that consists in suggesting of the hypothesis, testing of the same, and revising if there is a need for it. An important role for the centre of the company is in being the architect of the business, creating and developing the moving parts. As per Wirtz et al. (2016), putting it another way, it is in the setting of the ecosystem in which the business elements would be acting and performing. People call it the model of business. The models of the business help in reconciling certain internal tensions of competing of the factor of synergy, effectiveness and reduction of cost. However within that internal drive sometimes the journey of the customer can get lost, the service becomes disjointed and the integrity of the model of the business starts falling down. Businesses require ample glue in holding them together but not to that extent where they cannot move. It requires testing of the maximum amount of dissension that can be managed and still holding together rather than making the individuals stable. Testing a model of business is one of the critical steps that is being used in assuring the effectiveness. Thus, it can be stated that there exists two methods for testing a model; the n umbers test and the narrative test. The number test is being based on the checking if the calculations and the numbers strive while the main focus of narrative test is in identifying the story, which was being based on the model of the business, making much sense. Magretta explains the fact that the modeling of business should not only deem the estimation in logical manner, but also take into consideration certain other elements like the behavior of the customers, their preferences, alternative and the loyalty of the brand (Sekaran and Bougie 2016). A great assistance of the modeling of the business is the capability in estimating the situation overall and making a prediction for the future through evaluating of each single component within the system. The author offers an example of the successful planning of the business by the founders of eBay. The businesses that maxim the probability of selling online have greatly been promoted and augmented their profits through participation at the eBay (Zott and Amit 2013). It was always an idea of innovative nature during that point of time that thrived for couple of reasons. A cost of decreased nature associating the sellers along with the buyers, high activity scale and an appropriate construction of organization were the key factors contributing to the success factor of the ground-breaking model of business (Kindstrm and Kowalkowski 2014). A model of business along with the strategy are sometimes been used as interchangeable idioms, and they should never be confused. Both of them need to be used within the organizational environment, though they symbolize various stages of the planning of the business. Hence, modeling of the business is being associated in evaluating the systems elements and making certain that everything would be working in effective manner. However, the next step or stage within the planning of the business needs monitoring and tackling the rivals which is one of the main aims of the strategy (Coombes and Nicholson 2013). Thus, the key difference between a model of the business and that of strategy is generally being described by the issues they contract with the participation level. The model of business generally differs from strategy; models of business are being described as a system, how the system pieces would be fitting in together; however they would not be any factor in competition. Dealing with all these is the strategys job (Carayannis, Sindakis and Walter 2015). The strategy of competitive nature takes into account the ways a particular organization would be doing better than their counterparts. Furthermore, if the company does not boast of any sort of good corporate strategy, the company is bound to fail even though the model of the business is stated to be booming. A strategy that is being applied by the organization generally focuses on the finding of ways for the organization in performing in better way than their competitors. Differentiating of a company from its competitors and providing of unique products or services is stated to be the paramount strategy in attaining of the performance of outstanding nature. Using of this method takes in producing of fresh ideas that is mainly been based on the needs of the customers that were not obvious on prior occasions. Furthermore, it needs to be introduced within the market before any of the other company does the same thing. An example of Wal-Mart can clarify the dissimilarity between the strategy and a model of a business. The author explains the fact that the success of it was not for the implementation of the model of business. As a matter of fact, the Wal-Marts founder rented the key concept from some of the existing discounting stores that previously exerted in the way of providing low amount of prices through offering of the less personal service. However, the scheme was being personalized and modified slightly by the owner of Wal-Mart through applying of the unique strategies of business (Casadesus?Masanell and Zhu 2013). Thus the Wal-Marts success is generally based on the strategy of its business and not the model which was similar to the one that was been applied by the other stores. Wal-Marts strategys uniqueness was being represented through the ideas of the owner in operating within various market scenarios, serving a varied range of customers. The owner decided on focusing on the small towns of rural nature that were previously been ignored by the other retailers. Moreover, the towns size that was being chosen by Wal-Mart facilitated it in becoming a monopolist scattering its chain across the country (Beattie and Smith 2013). Thus the submission of the strategy of distinctive nature within a business model of existing nature has been the key to the success of Wal-Mart. Furthermore, as per Bocken et al. (2014), Wal-Marts strategy had some of the other exceptional aspects like the factor of merchandizing and pricing. Wal-Mart did reduce its costs through the implementation of the factor of innovation for keeping the promise of transporting the national brands at low amount of prices for the customers. Such an approach has helped the retail chain in standing out of the other retailers who were focusing at the promotion over conventional pricing and selling off of quality items. Thus, it can be concluded that the model of business is one of the powerful tools that boasts of an outstanding practical value for the organizations. Having knowledge of the mechanisms in creating and relating of the model of business determines the success of the venture in future. Implementing a model of business is one of the dynamic procedures that need regular investigation of its effectiveness and being prepared in reassessing and adjusting it as per the markets reaction (Veit et al. 2014). Adding to that is the fact that the author explains on the ways the business model is dissimilar from a strategy and that these conditions should never be confused. However, the modeling of business needs to be supported by a thriving strategy that would recognize the important directions in following the order in attaining the results expected for assuring the high performance of an organization. References: Arend, R.J., 2013. The business model: Present and futurebeyond a skeumorph.Strategic Organization,11(4), pp.390-402. Baden-Fuller, C. and Mangematin, V., 2013. Business models: A challenging agenda.Strategic Organization,11(4), pp.418-427. Beattie, V. and Smith, S.J., 2013. Value creation and business models: refocusing the intellectual capital debate.The British Accounting Review,45(4), pp.243-254. Bereznoi, A., 2015. Business model innovation in corporate competitive strategy.Problems of economic transition,57(8), pp.14-33. Bocken, N.M.P., Short, S.W., Rana, P. and Evans, S., 2014. A literature and practice review to develop sustainable business model archetypes.Journal of cleaner production,65, pp.42-56. Boons, F. and Ldeke-Freund, F., 2013. Business models for sustainable innovation: state-of-the-art and steps towards a research agenda.Journal of Cleaner Production,45, pp.9-19. Boons, F., Montalvo, C., Quist, J. and Wagner, M., 2013. Sustainable innovation, business models and economic performance: an overview.Journal of Cleaner Production,45, pp.1-8. Carayannis, E.G., Sindakis, S. and Walter, C., 2015. Business model innovation as lever of organizational sustainability.The Journal of Technology Transfer,40(1), pp.85-104. Casadesus?Masanell, R. and Zhu, F., 2013. Business model innovation and competitive imitation: The case of sponsor?based business models.Strategic management journal,34(4), pp.464-482. Coombes, P.H. and Nicholson, J.D., 2013. Business models and their relationship with marketing: A systematic literature review.Industrial Marketing Management,42(5), pp.656-664. Kindstrm, D. and Kowalkowski, C., 2014. Service innovation in product-centric firms: A multidimensional business model perspective.Journal of Business Industrial Marketing,29(2), pp.96-111. Ovans, A., 2015. What is a business model.Retrieved July,5, p.2016. Sekaran, U. and Bougie, R., 2016.Research methods for business: A skill building approach. John Wiley Sons. Veit, D., Clemons, E., Benlian, A., Buxmann, P., Hess, T., Kundisch, D., Leimeister, J.M., Loos, P. and Spann, M., 2014. Business models.Business Information Systems Engineering,6(1), pp.45-53. Wirtz, B.W., Pistoia, A., Ullrich, S. and Gttel, V., 2016. Business models: Origin, development and future research perspectives.Long Range Planning,49(1), pp.36-54. Zott, C. and Amit, R., 2013. The business model: A theoretically anchored robust construct for strategic analysis.Strategic Organization,11(4), pp.403-411.

Related Diversification Is a More Successful Strategy free essay sample

(exploitation of know-how, more efficient use of available resources and capacities). In addition, companies may also explore diversification Just to get a valuable comparison between this strategy and expansion. Types of diversifications Moving away from the core competency is termed as diversification. Diversification involves directions of development which take the organisation away from its present markets and its present products at the same time. Diversification is of two types: (i) Related diversification: Related diversification is development beyond the present roduct and market, but still within the broad confines of the industry (i. e. value chain) in which a company operates. For example, an automobile manufacturer may engage in production of passenger vehicles and light trucks. (ii)Unrelated diversification: Unrelated diversification is where the organisation moves beyond the confines of its current industry. For example ,a food processing firm manufacturing leather footwear as well. The different types of diversification strategies The strategies of diversification can include internal development of new products or arkets, acquisition of a firm, alliance with a complementary company, licensing of new technologies, and distributing or importing a products line manufactured by another firm. We will write a custom essay sample on Related Diversification Is a More Successful Strategy or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Generally, the final strategy involves a combination of these options. This combination is determined in function of available opportunities and consistency with the objectives and the resources of the company. There are three types of diversification: concentric, horizontal and conglomerate: (1) Concentric diversification The company adds new products or services which have technological or commercial ynergies with current products and which will appeal to new customer groups. The objective is therefore to benefit from synergy effects due to the complementarities of activities, and thus to expand the firms market by attracting new groups of buyers. Concentric diversification does not lead the company into a completely new world as it operates in familiar territory in one of the two major fields (technology or marketing). Therefore that kind of diversification makes the task easier, although not necessarily successful. (2)Horizontal diversification The company adds new products or services that are technologically or commercially nrelated to current products, but which may appeal to current customers. In a competitive environment, this form of diversification is desirable if the present customers are loyal to the current products and if the new products have a good quality and are well promoted and priced. Moreover, the new products are marketed to the same economic environment as the existing products, which may lead to rigidity and instability. In other words, this strategy tends to increase the firms dependence on certain market segments. (3) Conglomerate diversification (or lateral diversification) The company markets new roducts or services that have no technological or commercial synergies with current products, but which may appeal to new groups of customers. The conglomerate diversification has very little relationship with the firms current business. Therefore, the main reasons of adopting such a strategy are first to improve the profitability and the flexibility of the company, and second to get a better reception in capital markets as the company gets bigger. Even if this strategy is very risky, it could also, if successful, provide increased growth and profitability. Risks in diversification Diversification is the riskiest of the four strategies presented in the Ansoff matrix and requires the most careful investigation. Going into an unknown market with an unfamiliar product offering means a lack of experience in the new skills and techniques required.