Corporate strategy is about growth. In a global and dynamic world, companies have to grow faster than competitors to survive and succeed. Managing the scope of the corporation in terms of diversification is one of the levers that has the greatest potential to generate growth over the long term. But, looking at their economic situation, is there any difference between developed and emerging countries when considering diversification strategies for achieving fast growth? The article attempts to answer this question. First, the reader will find a brief summary on the debate that has appeared in management literature around diversification. Second, we present the results of empirical research conducted in both developed and emerging countries. Finally, we extract some recommendations and reflections, illustrated by cases and examples of companies and business groups in different countries.