1. the process of making or becoming more varied or diverse in character or form
2. the strategy of investing in a variety of different assets or businesses to reduce risk
Usage: finance, business

Examples

• The company's diversification into new markets helped it grow beyond its original product line.
• Crop diversification is an important agricultural practice that improves soil health.
• Financial advisors recommend diversification of your investment portfolio to minimize losses.
• The restaurant chain pursued diversification by opening different types of dining concepts.
• Biodiversity and diversification of species are essential for ecosystem stability.
• The tech company's diversification strategy included acquiring smaller startups in different sectors.