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COMPONENT 2 : QUALITY Upgrade AND PRODUCT DIVERSIFICATION (QUAD) There are 4 Sub Components under this component. 1.1 Value addition by way of creating additional infrastructure for cleaning, blending,
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Start by clearly understanding what economic diversification means and why it is important.
02
Gather relevant data and information about your current economic activities and resources.
03
Identify potential areas for diversification based on market trends, competition, and local demand.
04
Develop a detailed plan outlining specific strategies and actions to diversify your economy.
05
Implement the plan by allocating resources, monitoring progress, and adjusting strategies as needed.
06
Evaluate the effectiveness of your diversification efforts and make necessary adjustments for long-term success.

Who needs economic diversification in form?

01
Government organizations looking to stimulate economic growth and reduce dependency on a single industry.
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Businesses seeking to expand their market reach and reduce vulnerability to economic fluctuations.
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Communities aiming to create a more resilient and sustainable economy for their residents.
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Economic diversification in form refers to the process of expanding an economy's range of industries and exports in order to reduce reliance on a single sector.
Businesses and organizations that are involved in economic activities and are required by law to report their diversification efforts.
The form can be filled out online or in paper format, following the instructions provided by the governing authority.
The purpose is to track and monitor efforts to diversify the economy and identify areas for growth and improvement.
Information such as sectors of the economy being targeted for diversification, strategies being employed, and progress made towards diversification goals.
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