Which of the following is not a strategy focused on diversification?

Liquidation is not a strategy focused on diversification because it involves the process of selling off assets or business units rather than expanding into new markets or product lines. This strategy usually aims to eliminate unprofitable aspects of a business or to raise capital, which contrasts with diversification strategies that seek to broaden a company's scope and reduce risk by operating in multiple segments or industries.

On the other hand, strategies like concentric, conglomerate, and horizontal diversification are all designed to enhance a company's market presence by adding new products, services, or markets. Concentric diversification involves adding related products that complement existing offerings, while conglomerate diversification refers to expanding into completely unrelated industries. Horizontal diversification, on the other hand, involves adding new products or services at the same level of the supply chain but in different markets. Thus, while diversification aims to spread risk and leverage new opportunities, liquidation focuses on downsizing or reorganizing the business structure.