- noun the process in which a company begins to engage in a new and different type of business
- noun the expansion of a farm or other enterprise into new areas of business, e.g. allowing land to be used for leisure activities or introducing new crops or livestock
Cars & Driving
- noun the process of varying and extending a firm’s range of models and products
- noun the addition of another quite different type of business to a firm’s existing trade
- noun a major media company’s spread into ownership of other related and unrelated products. For example, Virgin started as a music distributor, expanded into a record label, radio empire, mobile phone provider, book publishing and then into cosmetics, soft drinks, personal finance, an airline and many more products and services.