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Regarding Henry Mintzberg- How would strategy help answer the question: “Should a company diversify or stick...

Regarding Henry Mintzberg- How would strategy help answer the question: “Should a company diversify or stick to its knitting?” Please cite all work.

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Strategy helps in studying business opportunities from multiple perspectives - Synergy with an existing business, the attractiveness of new business, competitive position, organizational and financial capabilities etc. This helps in taking business decisions based on long-term calculations. Accordingly, it helps in answering whether a company should diversify or stick to its knitting - based on opportunities to grow and risks to degrow.

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