Updated on March 20, 2023
Specialisation is the expertise achieved by a business organisation in a particular process or series of processes to execute it at maximum efficiency which may translate into higher profitability. Companies that have achieved specialisation in any particular area like a stream of operations or in their financial products can have the benefit of a better return on their investments. Specialisation is also achieved when the organisation breaks down the various tasks to be executed into small and well-defined units to be executed by professionals having expertise in such defined areas.
Specialisation is not limited to businesses, individuals can also achieve specialisation or expertise in a particular stream of education or vocation and thereby make it their profession to achieve maximum returns.