The Role of Innovative Diversification in Ensuring Sustainable Business Development

In a rapidly changing economic environment, innovative diversification plays a crucial role in ensuring the sustainable development of companies. This article examines the impact of diversification strategies based on innovation on long-term corporate stability, competitiveness, and financial performance. The study explores different types of innovative diversification, including product, technological, and market diversification, and their role in mitigating external risks. Through the analysis of successful case studies, the article highlights key factors that contribute to the effective implementation of innovation-driven diversification strategies. The findings suggest that companies that integrate innovation into their diversification efforts achieve higher adaptability, increased market resilience, and long-term financial sustainability.