business conglomerate

A business conglomerate is a large corporation that owns and operates multiple diverse companies across different industries. This means that, instead of focusing on just one type of product or service, a conglomerate manages a variety of businesses, such as manufacturing, retail, and technology. This strategy helps spread risk; if one industry struggles, others may still perform well. Conglomerates often benefit from shared resources and can leverage their size for better negotiating power. Well-known examples include companies like General Electric and Berkshire Hathaway, which have interests in numerous sectors around the world.