Kiran Industries is a company manufacturing office furniture. The company chose to diversify its operations to improve its growth potential and increase market share. As the project was important many alternatives were generated for the purpose and were thoroughly discussed amongst the members of the organisation. After evaluating the various alternatives Sukhvinder, the Managing Director of the company decided that they should add ‘Home Interiors and Furnishings' as a new line of business activity.
a) Name the framework, which the diversified organisation should adopt, to enable it to cope with the emerging complexity? Give a reason in support of your answer.
b) State limitations of this framework.