Abstract. Diversification as a mechanism of managing the multifunctional development of socio-economic systems. Oleksiy Buluy, Maria Plotnikova, Oksana Prysiazhniuk. The article reveals the evolution of development, considers the directions of diversification of the local and national economy with an emphasis on ensuring the well-being of people and preserving the environment. At the local level, one of the promising areas of business diversification in rural areas is rural tourism. We believe that its development is a key factor that can cause a synergistic effect in combination with other types of entrepreneurial activity in rural areas. The proposed perspective model of the development of society is based on the conditions of self-development and self-realization. The success of the proposed model is based on coordinated cooperation between the state, public organizations and business. The conducted research made it possible to systematize factors influencing diversification on the development of agriculture on the basis of ensuring efficient use of resources. It has been proven that diversification maximizes the effect of synergy, which leads to increased coordination and the creation of an integrated management system to achieve the desired effects.