Diversified management is a strategic decision for many enterprises at some stage in the course of their development, but in practice, there are examples showing that some of them are successful and some may fail. The full development of the enterprises leading business, formation of the key competitive ability, the strategic target of the relevant industries associated with diversified management, the opportunities and approaches for diversified management are discussed in this paper. The following conclusions have been drawn: the full development of leading business and formation of key competitive ability are the basis of the enterprise's diversified management. The area for diversified management should be strategy-related industries, as for the approach to diversified management; the first choice is absorbing firms. The opportunity possibly entering into the market of diversified management must be the best gearing point between the most favorable situation to develop industry and the enterprise's key competitive ability, which should be fully considered. It is hoped that the study will be helpful for the enterprises.