Answer the questions; with company questions, pretend you are an owner of a footwear company.1. Please explain “What Does Crafting a Diversification Strategy Entail?” When can this be justified?2. When you review the “Approaches to Diversifying the Business Lineup” you will be introduced to “Acquisition” possibilities versus “Entering a New Line of Business through Internal Development” and the prospect of “joint Ventures.”3. Is your company primed to make any of these Corporate Strategic moves? Does your current “Value Chain” allow any of these options? Explain.4. It is essential that you understand that companies also have the option of diversifying into “unrelated” businesses as well as diversifying into “related” businesses. Does either of these options appeal to you at this point with your company?5. The Three Strategy Alternatives for Pursuing Diversification are: 1) Diversifying into Related Businesses, 2) Diversifying into Unrelated Businesses, and 3) Diversifying into both Related and Unrelated Businesses. In order to reach the proper alternative you must 1) Evaluate the Industry Attractiveness, 2) Evaluate Business-Unit Competitive Strength, 3) Determine the Competitive Value of Strategic Fit in Diversified Companies, 4) Check for Resource Fit, 5) Rank Business Units and Assign a Priority for Resource Allocation, and 6) Crafting New Strategic Moves to Improve Overall Corporate Performance. Are you prepared to complete these steps to decide if diversification can help your company? Which alternative will you select?

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