The document discusses various strategies for corporate-level diversification, including related and unrelated diversification. It explains that related diversification can achieve synergistic benefits through economies of scope and market power by leveraging core competencies and sharing resources and activities across similar businesses. Unrelated diversification seeks to create value through corporate restructuring, parenting, and portfolio management activities provided by the corporate office. The document provides examples of companies that have successfully implemented various diversification strategies and discusses the potential benefits, risks and tradeoffs involved.