What is a conglomerate strategy howwhy did it solve

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What is a conglomerate strategy? How/why did it solve the crisis?
Basics What is profit ? What is the difference between a company’s profit and its share price ? What is an ownership share in a company? What is a shareholder? Someone, or an organization, which holds a share of ownership in a company Thus, shareholders are, collectively, the owners of a company Shareholder value: The amount of shares a shareholder has in any given company Ownership of a company is bought and sold like any other commodity, so, today, you can become part owner of any company you like. What is a stock exchange? Shares of a company (or stock) are bought and sold in particular types markets called stock exchange The historical emergence of shareholder value: What crisis confronted Corporate America on the eve of the 1980s? Between 1960 and 1980 the Financial strategy was to diversify into unrelated product industries (conglomerate strategy) as a way of avoiding potential Celler-Kefauver antitrust regulation. So, companies were buying hotels, cruise ships, clothing companies, a ton of different things Then, there was another shock Federal Reserve raises interest rates to combat inflation Higher interest rates harder to borrow money to buy stocks + fixed-income investments are more attractive Stock market plunges; corporations, diversified or not, all suffer. Recession.
How was this crisis culturally understood? Who was to blame? Who were the principal actors symbolically framing this understanding of the problem?
Why is the cultural understanding of Corporate America’s problem during the 1980s ironic, in light of Fligstein’s story above?

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