Abstract
M.Com. (Business Management)
The success of corporate strategy implementation has become the focus of many organisations to sustain a competitive advantage. Strategic management helps organisations to set their vision, mission and objectives that will enable them to survive and operate within a competitive environment.
However, many organisations have experienced little success in the implementation of corporate strategy. The majority do not have strategies in place, and strategy implementation fails because of poor implementation and not because of the strategy itself. Many factors may affect the implementation of corporate strategy within any organisation, such as lack of resources, poor communication and resistance to change.
The main objective of this research was to determine how small and medium consulting businesses are implementing corporate strategies to ensure sustainability and growth. To achieve this objective, a qualitative approach was used with the aim of understanding, analysing and evaluating the success of corporate strategy implementation of small and medium consulting businesses. Data was collected through semi-structured interviews, which were conducted with 13 small and medium consulting business owners/managers in the Randburg central business district. The empirical findings indicate that corporate strategy implementation with specific reference to the components of implementation has a significant contribution to small and medium consulting businesses’ sustainability, growth and performance.
Owners/managers of these businesses should ensure that the strategy applied is communicated effectively to the staff members in order for them to embrace the implementation and to understand and adopt the strategy; however, the lack of a strategy can cause the failure of these businesses.