BHP Billiton sold off its steel-making operation in 2000, in order to focus on the core revenue earner and strategic direction of the company: resource extraction. Steel making used to be important to BHP but became increasing less important as global steel-making capacity outstripped demand. Identify the type of corporate-level strategy that BHP Billiton pursued.

a. Growth strategy, by concentration

b. Growth strategy, by diversification

c. Defensive strategy, by liquidation

d. Stability strategy, by continuous improvement

e. Defensive strategy, by divestiture