Specialization Can Be Deadly Today — Diversify to Ensure Long-Term Survival

Specialization Can Be Deadly Today — Diversify to Ensure Long-Term Survival

Being among the best at something in business works great in stable times but can be fatal in black swan times. It seems that black swan times are with us for some unforeseeable period so specialization has become a serious vulnerability. The solution here is diversification – adding business units that are not likely to be impacted in the way that your core business can be.