Proceedings of The 6th International Conference on Applied Research in Management, Business and Economics
Year: 2023
DOI:
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An Investigation into the Role of Corporate Strategy in Improving Business Functions
Dr. Jeremiah Madzimure, Anton pillay
ABSTRACT:
This study aimed to explore the role of corporate strategy in improving business functions of Kelly Hills International properties in Gauteng province. The study focused on outlining the roles of corporate strategy and finding out the current strategy. It also identified the benefits of corporate strategy to business functions as well as to recommend strategies for effective adoption of corporate strategies. The study was done using the qualitative research approach. In the collection of data, semi-structured face-to-face interviews with Kelly Hills International in Gauteng Province were used. The study used a sample size of ten (10) participants. This was selected using a non-probability sampling technique, namely purposive sampling. The collected data were analysed using the thematic analysis tool; themes and patterns were developed and presented in this study. The study found that there are a number of roles played by corporate strategy. These include create the competitive advantage, to improve the business performance. The study found that small and medium enterprises are not practising corporate governance due to inadequate capabilities. The research revealed that corporate strategy improves distribution of resources, makes for future growth possible and minimize the cost of capital. It improves the management of business units and the benefits of all stakeholders and the company’s reputation. Therefore, the study recommended that there should be training of owners and managers to understand the benefits of corporate. It also recommended further research to discover salient issues within different corporate strategies practiced within different companies. People need to know which corporate strategies have the same outcome.
keywords: corporate strategy, firm functions, productivity, competitive advantage, business performance