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Diversification strategy is a critical decision for firms aiming to grow, reduce risk, and enhance competitive advantage. The purpose of this study is to explore the relationship between diversification strategies and firm performance in Turkey as an emerging country. The study examines empirical data through statistical analysis. The results reveal that 83% of companies favor a single business strategy, indicating a preference for specialization over diversification. Also unrelated diversification offers a higher performance results, followed by single business and related diversification, with dominant strategies generally yielding the lowest performance results.
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Aarab et al. (2025) studied this question.
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