It is proved that effective management is based on the diversification of all spheres of the economic system. In the context of the development strategy of the enterprise or the state in general, it is reasonable to use the term is «economic diversification», as it is intended, first, to maximize profits, and second, to minimize the risks. By functional areas of economic diversification can be divided into the following types: financial and investment – the distribution of investments and other financial resources between different areas of activity, industry – the development of various activities and sectors, organizational – the formation of a variety of functional structured activities that create conditions for effective development.