Managed company diversity (5)
I believe the answer is:
range
'diversity' is the definition.
(thesaurus)
'managed company' is the wordplay.
'managed' becomes 'ran' (I've seen this before).
'company' becomes 'ge' (I can't explain this - if you can you should give a lot more credence to this answer).
'ran'+'ge'='RANGE'
Can you help me to learn more?
(Other definitions for range that I've seen before include "Wander freely" , "Cooking appliance" , "Cut; cultivated plant" , "Variation within limits" , "Scope (for target practice?)" .)