Diversification: meaning, definitions and examples

Best used in business or financial contexts to describe the process of increasing variety to reduce risk.

• The company's diversification into new markets has been successful.
• Investment diversification can protect your assets.

Best used to indicate different types or kinds, often to highlight diversity and options.

• A variety of foods were available at the buffet.
• There is a great variety of opinions on this issue.

Used when talking about collections of items, often in retail or general descriptions.

• The store offers a wide assortment of chocolates.
• She presented an assortment of different cheeses at the party.

Appropriate for describing combinations of different elements, often in science, cooking, or daily life.

• The mixture of ingredients needs to be stirred well.
• Their team is a mixture of experienced and new players.

Commonly used to describe a spectrum of possibilities or options, from one limit to another.

• They offer a wide range of services.
• The store has a range of prices to suit all budgets.

Used primarily in business or finance to describe the process of adding new products, services, or markets to spread risk and increase opportunities.

• The company's diversification into renewable energy has boosted its market share.
• Investors aim for diversification in their portfolio to minimize risks.

Generally used in business, projects, or physical spaces to describe the growth or enlargement of scope, scale, or size.

• The tech company is planning a major expansion into European markets.
• The expansion of the shopping mall will include more stores and parking spaces.

Utilized in a general sense to indicate making something wider or more inclusive, can refer to experiences, knowledge, or perspectives.

• Traveling is an excellent way of broadening your horizons.
• The government is focusing on broadening access to healthcare services.

Often applied to describe an addition to an existing structure, time period, or scope, implying lengthening rather than widening.

• An extension to the deadline has been granted due to unforeseen circumstances.
• They built an extension to their house to create more living space.

Used when there are different forms, versions, or changes in a particular subject or object, often implying differences within a group or range.

• There is a significant variation in test scores among the students.
• The recipe allows for variation depending on your preference.

Typically used in business and finance to refer to spreading out investments or activities to reduce risk.

• The company focused on diversification to mitigate potential losses
• Diversification of assets can protect against market volatility

Used in everyday language to refer to a range of different things, often to emphasize the options or choices available.

• The buffet offered a variety of dishes
• She enjoys a variety of hobbies in her free time

Often used to describe an impressive or organized group of items, especially in contexts involving selection or arrangement.

• The store offers an array of products to choose from
• She displayed an array of colorful artwork

Refers to a large number of individuals or things, often implying an overwhelming amount.

• There was a multitude of issues that needed addressing
• A multitude of fans gathered to meet the celebrity

Commonly used in social, cultural, and ecological contexts to refer to a variety of different elements or people.

• The university promotes diversity among its students and staff
• Biodiversity is crucial for maintaining ecological balance