What is Diversification and Decentralization? Discuss the benefits and limitations of profit decentralization..

Diversification and decentralization are key strategic approaches in business and human resource management, each playing a vital role in organizational growth and efficiency. Diversification refers to the expansion of a company into new markets, products, or services to reduce risks and increase profitability. It can be categorized into related diversification, where a company expands into similar industries, and unrelated diversification, where it ventures into completely different industries. Decentralization, on the other hand, involves the distribution of decision-making powers from a central authority to various levels within an organization. This enables ________ ___ ______ _____ __________ ______ _________ _________ _______.
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