Diversity Equity and Inclusion: A Quantitative Analysis of Fortune 100 Companies’ Success in Hiring and Retention (Published)
Diverse teams outperform non-diverse ones by 35%. Choosing diversity helps break down stereotypes and encourages individuals to be themselves. A diverse workforce prepares companies to solve complex problems. Diversity also helps companies avoid groupthink and other problems that can occur when everyone shares the same background, experiences, and perspectives. Incredible sources of conflict can dilute diversity while fostering fearful reservations. With immense pressure from stakeholders to remain relevant while staving off the competition, strategic innovation empowers modern businesses to reinvigorate their corporate strategy to fuel business growth, generate value, and establish a competitive advantage. The top five largest U.S. corporations by revenue were assessed using the Human Rights Campaign’s Corporate Equality Index metric for diversity and inclusion based on a 10-year period. The HRC CEI scores help business leaders measure whether corporations adopt equitable workplace policies, practices, and benefits for LGBTQ+ employees. Systems theory provided theoretical scaffolding for interrelated processes contributing to revenue generation. A Pearson correlational analysis revealed a positive correlation between HRC CEI scores and revenue by ascending year in three of the five largest U.S corporations by revenue while a linear regression confirmed statistically significant relationships for three corporations. No correlation was revealed between the number of women or minorities and revenue by ascending year in the top five U.S. corporations by revenue. Future implications of this study signal the need for further research regarding diversity, equity, and inclusion in corporate hierarchy, strategic resource management, and wider population considerations.
Keywords: Corporate Social Responsibility, Diversity, Equity, Inclusion, Strategic Management
The Challenges Faced by Stakeholders in Implementing Sustainable Strategic Management Practices (SSMP) in the Food Industry: A Systematic Literature Review (Published)
Strategic management has turned out to be an important business aspect that businesses cannot do without. This study intended to have a better understanding with regards to the challenges that are faced by various stakeholders as they are implementing Sustainable Strategic Management Practices (SSMP). This research study’s main purpose was to categorically articulate the challenges that are being faced by stakeholders in the food industry in implementing SSMP. The Systematic Literature Review (SLR) approach was performed using a six-phase approach. In each stage, the literature is reviewed and reduced, where the paper was seeking to retain only the most appropriate literature that was very close to what the paper was looking forward to most relevant articles. Ultimately, the process resulted in 121 journals that were reviewed and analyzed in relation to the research topic using the SLR approach. The findings of the study indicated that there are a number of impediments that tend to emanate from the internal and external environment which act as challenges for the implementation of SSMP within the food industry. It has been noted that there are issues to do with the scarce resources, the regulatory environment amongst others. The study therefore concluded that for effectiveness the businesses need to monitor with efficiency the internal and external business environment for sustainable implementation of SSMP.
Keywords: Business Environment, Challenges, Stakeholders, Strategic Management, food industry, systematic literature review
A Framework for Sustainable Strategic Management Practices (SSMP) In The Food Industry in Zimbabwe: A Case Study of the Food Producers, Suppliers and Distributors in Harare Zimbabwe (Published)
Sustainable strategic management (SSM) has emerged as a pivotal concern for global companies, as enterprises strive to reconcile economic advancement with environmental conservation and social accountability. This is predominantly appropriate in the Zimbabwean food industry (FI) owing to its substantial influence on the national economy and its potential effects on food security along with environmental sustainability. The stakeholder framework, encompassing SSM practices, SSM drivers and Dynamic Capabilities, is vital for the effective execution of justifiable plans. The Zimbabwean food sector encounters food scarcity which is caused by distinct difficulties, such as lack of strategic management, economic volatility, climate change, and resource depletion, which require a comprehensive stakeholder structure to guarantee sustainability. This study seeks to provide a stakeholder framework for SSM in the Zimbabwean food sector, offering insights on enhancing the alignment of strategic management with sustainability objectives. This linkage is necessary for the business’s long-standing sustainability and its role in national development goals and global sustainability objectives. This project enhances the knowledge base in Zimbabwe by identifying potential areas for revitalizing food production and sustainability. The study will employ equally qualitative and quantitative methodologies. The quantitative exploration approach utilized stratified random sampling, whereas the qualitative research strategy will employ purposive sampling. Thematic analysis was employed to detect and interpret patterns in qualitative data analysis. The framework developed in this study targets at enhancing policy formulation and development within the food industry in the long run.
Keywords: Stakeholder framework, Strategic Management, food industry, sustainability goals
Strategic Management and Organisational Performance in Cadbury Nigeria Plc. (Published)
The study investigated the impact of strategic management on organisational performance in Cadbury Nigeria Plc. The study adopted survey research design in generating data. Primary data were obtained through structured questionnaires using a sample size of 100 for top, middle, and lower level management of the organisation using stratified sampling technique. Descriptive and regression analysis were used to test the three hypotheses that guided the study. The study reveals that there was a weak positive relationship between Strategic Management variables and organisational performance indicators varied at 28.9% with p – value (P < 0.05). The study thus concluded that though strategic management is not yet a common business practice in Cadbury Nigeria Plc., it has been identified as veritable tool for improving the competitiveness, performance levels, and structural development of Cadbury Nigeria Plc. Lagos State in particular and Nigeria in general. The researcher recommended that organisation should incorporate strategic management principles into their programs. This will engender sound managerial know-how and boost the performance and competiveness of firms in Nigeria.
Keywords: Organisational Performance, Strategic Management, Strategy Formulation, Strategy Implementation, business expansion, strategy evaluation and control
Factor Analysis of Strategic Management and Performance Variables in The Banking Sector in Oyo State, Nigeria (Review Completed - Accepted)
This research work factor analysed the impact of Strategic Management Variables (knowledge management, perceived environmental uncertainty, strategic agility and organizational learning) and Performance Variables in some selected selected banks in Oyo State of Nigeria. The study employed questionnaire to collect information from subjects who were bank employees of the selected banks in Oyo State. One hundred and six respondents responded to the questionnaire. This study found that strategic management variables were immensely associated with bank performance Based on the findings, it was recommended that there is a need for banks to work and improve their knowledge and learning base, endeavour to adapt to their environment and strive to be strategically agile so as to improve their performance and in the long run gain sustained competitive advantage
Keywords: Knowledge Based View, Knowledge Management, Organizational Learning, Organizational Performance, Strategic Agility, Strategic Management