diversification

noun
UK: /daɪˌvɜːsɪfɪˈkeɪʃən/
US: /daɪˌvɜːrsɪfɪˈkeɪʃən/

  1. The process of increasing the variety of something.

    1. We need diversification of product lines.
    2. The company is considering diversification to reduce reliance on one product.

  2. The practice of dividing investments among different assets to reduce risk.

    1. Diversification is key to a safe portfolio.
    2. Financial advisors recommend diversification for long-term investment success.

  3. The act of developing a wider range of skills or activities.

    1. She wants diversification of her skills.
    2. Career diversification can lead to more job opportunities and personal growth.

Synonyms

variety variation expansion assortment
diversification verb

  1. To increase the variety of products or services.

    1. They diversify their crops each year.
    2. The company diversified its product line to attract more customers.

  2. To spread investments across different sectors to reduce risk.

    1. Investors diversify their portfolios regularly.
    2. It's crucial to diversify your investments to protect against market fluctuations.

  3. To develop a wider range of skills or interests.

    1. I want to diversify my skillset.
    2. Employees are encouraged to diversify their skills to become more versatile.

Frequently Asked Questions

The word "diversification" in English means: The process of increasing the variety of something., The practice of dividing investments among different assets to reduce risk., The act of developing a wider range of skills or activities..

The phonetic transcription of "diversification" is /daɪˌvɜːsɪfɪˈkeɪʃən/ in British English and /daɪˌvɜːrsɪfɪˈkeɪʃən/ in American English. Click the 🔊 button to hear both pronunciations.

Synonyms for "diversification": variety, variation, expansion, assortment.

Example usage of "diversification": "We need diversification of product lines.". More examples on the page.