Diversity Strengthening Companies in the Economic Downturn

The purpose of this paper is to provide examples of companies using diversified strategies to advance in a competitive market and withstand the economic downturn. This paper will explain the benefits of the strategies and how one can implement them in their own business. The variety of strategies and examples will be presented in a literature review and a case study about the Los Angeles Clipper franchise. The goal is to present diversified strategies as an alternate response to the decline, so companies will gain ideas about how to develop cost saving initiatives that will increase long term revenue. Furthermore the Clippers diversity initiatives can be applied to any company that is struggling with increasing their revenue