Is “Diversification” a Scrabble word?

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Yes
DIVERSIFICATION
Valid in at least one Scrabble dictionary

Valid in these dictionaries

SOWPODS / CSW
Scrabble UK & International
Valid
TWL / NWL
Scrabble North America
Valid
Large English Dictionary
General English word list
Unavailable

Meaning of Diversification

/daɪˌvɜːsɪfɪˈkeɪʃən/

noun
  1. 1.The act, or the result, of diversifying.

  2. 2.A corporate strategy in which a company acquires or establishes a business other than that of its current product.

  3. 3.An investment strategy involving investing in a range of assets with differing features in order to reduce specific risk.