Diversification strategy as a way to increase efficiency of an enterprise

The article proposes the stages of forming a diversification strategy in order to increase the efficiency of the enterprise. The essence and main characteristics of diversification are considered. The main factors and principles of implementation of the diversification strategy at the enterprise are distinguished. Features of approaches to application of diversification are considered. The types of diversification and their main characteristics are investigated. The use of diversification method by economic entities of different spheres of activity and forms of ownership is an effective way, because it allows to expand specialization and types of activity, deepen vertical integration, restore inter-sectoral links in the enterprise, be the impetus for the emergence of new rational initiatives and decisions. The importance of diversified enterprise development is due to the exhaustiveness of internal sources of increasing production efficiency in major business areas, or vice versa an increase in equity. Therefore, diversification should be seen not only as a means of preventing an enterprise's crisis, but also as a strategy for its further prosperous development. Enterprises that choose a diversification strategy are trying to produce more product modifications to maximize scale. The strategy is implemented through a growth strategy (expanding the product mix) and a market expansion strategy (exploring new markets) or by combining elements of both. The diversification strategy contributes to the independence of the enterprise from one strategic business unit. To select the most optimal type of strategy, it should be considered the types of diversification, their main characteristics, advantages and disadvantages Also, in the process of choosing the optimal type of strategy, the influence of factors on the activity of the enterprise should be taken into account. Impact factors, in turn, should be considered and investigated from two points of view: the external environment, from the macro- and microenvironment in which the enterprise operates; the internal environment of the enterprise itself, consisting of a number of links and areas of activity (resources). Therefore, analyzing the existing types of diversification, the enterprise chooses the most optimal with the greatest benefit and the least risk, that is, to choose the best option for investing with the highest possible profit and ensuring the financial stability of the enterprise