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Diversification Strategies Essay

1289 words - 6 pages

Diversification Strategies

When companies begin they develop a business plan that details what they intend to specialize in. For some, once they have reached a goal in one market they make decisions to venture out into other markets. In the world of business, that venturing out is called diversifying the company. According to Merriam-Webster’s online dictionary, to diversify is “to increase the variety of the products of; or to engage in varied operations.” (Merriam-Webster, 2012) In a business, when you produce a variety of goods or invest in different markets it is a strategy that provides a back-up in the event that one good or investment goes south. Diversification ...view middle of the document...

The next state the company began to serve areas in was Florida. The new owner, Ralph Roberts, decided to change the name of the company in 1969. The name was chosen “in an effort to build a more technological identity, he took portions of the words "communication" and "broadcast," creating Comcast Corporation and reincorporating the company in Pennsylvania.” (Comcast Corporation, 1999) From that point the company continued to expand and develop relationships with other companies. In 1983, Comcast Corporation even expanded into the United Kingdom. Today, according to Comcast’s website (2012); Comcast Corporation is one of the world’s leading media, entertainment and communications companies. Comcast is principally involved in the operation of cable systems through Comcast cable and in the development, production and distribution of entertainment, news, sports and other content for global audiences through NBCUniversal. Comcast cable is one of the nation’s largest video, high- speed Internet and phone providers to residential and business customers. Comcast is the majority owner and manager of NBCUniversal, which owns and operates entertainment and news cable networks, the NBC and Telemundo broadcast networks, local television station groups, television production operations, a major motion picture company and theme parks. (Comcast, 2012)

Eastman Kodak Company was developed in 1880 by George Eastman. The idea for the company came from Eastman’s desire to make the camera and the materials associated with it easier to transport. He began by manufacturing dry glass plates that he would sell to photographers. For a while the business was shaky. The plates were not always made the same and therefore had to be replaced, a service that Eastman provided for free. Eventually the business began to grow and Eastman continued to work on the company’s product. It was his desire to find a lighter and more flexible substitute for the glass plate. “In 1884 he introduced a new film system using gelatin-coated paper packed in a roll holder that could be used in almost every plate camera available at that time.” (Eastman Kodak Company, 2001) Following that, the company introduced its first portable camera in 1888. The new portable camera has a price point of $25. You could shoot the entire roll of film and afterwards the owner would send both the film and the camera to Rochester for processing. The cost of processing was $10 and it included the developing of the film as well as having the company send back the camera loaded with a new roll of film. “This breakthrough is considered to be the birth of snapshot photography.” (Eastman Kodak Company, 2001) During this time Eastman developed and trademarked the name of the camera, Kodak. He came up with the name by first using his favorite letter “K” and playing with words that both began and ended with it. (Eastman Kodak Company, 2001)
The company continued to prosper and be innovators in the world of...

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