Diversification Strategies of British Trading Companies: Harrisons & Crosfield, c.1900-c.1980

This article examines the diversification strategies and organisational competencies of Harrisons & Crosfield between 1900 and 1980. This firm was of the largest 'agency houses' in Southeast Asia and one which had played a prominent role in the development of the Malayan rubber industry. By the 1970s Harrisons & Crosfield resembled a sogo shosha in terms of its product and geographical diversification. This diversification was incremental, and often driven by risk reduction as well as by a culture open to new opportunities. Competencies were tacit and evolutionary. Diversification strategies were also sustained by learning from other firms, either by acquisition or joint ventures.