We know that firms need to adapt their strategies as per the changes in the business environment.
What was good five years back will not hold good now. The business model that works for a particular firm may not work in a similar manner for another firm. The strategy that pays off in one country may not produce similar results in another country. While responding to the changes in the environment, sometimes companies have even moved away from their core business.
Alternately there are businesses that diversify into other areas while retaining their core business.
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