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As you head into full job search mode, you might run across a few corporate terms that are a bit confusing. You almost feel like you should know what they mean… but do you really?
Are you afraid to ask? Especially that one: “diversified services” or “diversified company.” We know what diverse means, but what the heck does this term mean together?!
Well shipmate, let’s break it down. Don’t worry, I won’t tell anyone you didn’t know because neither did I, until recently.
According to Investopedia, “Diversified Companies” are simply those that offer diverse businesses. This could mean they offer diverse services or products that are unrelated with consumer bases that are separate, lending greater stability to the company as a whole.
Essentially, they don’t have all of their economic eggs in one basket. If any one sector stumbles, the company is buffeted by the other well-performing sectors. The name of the game for these companies is stability and predictability. These companies do not usually see significant rises or falls in their economic viability. Because of this, you will find some of the biggest and most visible names on the diversified company list. These are the Umbrella Corporations of reality, with less viral zombie-like interests. But really, these big guys are into everything and usually have been around for a long time.
When was the last time you bought tape? There’s a good chance you picked up one by 3M. This mega diverse company not only makes sticky stuff, but also has its fingers in the healthcare industry and has created combination inhalers for people with breathing issues. And that’s only the beginning of what they do.
There are many consumer products that fall under the same parent company – we just don’t realize it. But this phenomenon is certainly bigger than products you might find in the store. Companies like General Electric, in addition to being a Military Friendly® Employer (MFE), create and support energy technologies and healthcare solutions as well as a wide range of other services.
How did these companies become involved in such seemingly unrelated fields? Diversified companies tend to grow up organically as one corporate entity absorbs another. This can happen when companies buy out another, or acquire each other through a merger. Through enough acquisitions and mergers, quite a varied base of products and interests can be established.
In terms of the job game, this means that the employment needs of these companies are equally diverse. You may find a wider range of opportunities, mobility, and locations that may benefit your interests. With some good research or using our Job Finder Tool, you might find a big name company that maintains employment in a field you never expected!
