Scope refers to the number of different economic activities (such as industries, segments, and product lines) and geographic markets (such as countries, states, provinces, and cities) in which a firm is engaged. Known as conglomerates worldwide (and business groups in emerging economies), firms embracing a strategy of conglomeration – product-unrelated diversification – feature some of the widest scope among all firms. During the recent globalization era, many classic conglomerates, such as Denmark's Danisco and Finland's Nokia, which had formerly dominated multiple unrelated industries in their home countries (Cell 4), reduced their product scope but significantly expanded their geographic scope (Meyer, 2006). [...]they tend to remain in Cell 2 longer than previously thought.
Conglomeration, (De)Globalization, and COVID-19