Which strategy is characterized by adding new businesses that do not overlap with current products?

Conglomerate diversification is a strategy focused on expanding a company's operations by adding new businesses that are unrelated to its current products or services. This approach allows organizations to spread their risks and leverage opportunities in different markets or industries that do not directly connect with their existing offerings.

By entering into unrelated areas, companies can tap into new customer bases and revenue streams while also reducing their reliance on the performance of their core business. This strategy can be particularly beneficial in achieving growth when the original market is saturated or when the company seeks to mitigate risks associated with economic downturns affecting their primary sector.

In contrast, the other strategies mentioned, such as horizontal diversification and related diversification, involve expansion within similar or related industries or product lines, thus not fitting the definition of conglomerate diversification. Vertical integration focuses on controlling various stages of production within the same industry, which also differs from the concept of pursuing entirely different businesses.