The inflation rate in Dubai, United Arab Emirates (UAE) rose to 5-year highs in 2014 and higher by 28% in the first half of 2015. This situation has challenged business managers to sustain business goals. Guided by Kaplan and Norton's balanced scorecard framework. the purpose of this multiple case study was to explore strategies business managers use to maintain profitability with rising operating costs. Two organizations in Dubai, United Arab Emirates were purposefully sampled for this multiple case study. Data were collected through multiple semistructured interviews of a single senior manager from each organization, then triangulated with company e-mails and focus group interviews of 2 junior managers from each of the organizations. All data were analyzed using a 5-phased cycle of compiling, disassembling, reassembling, interpreting, and concluding to understand the emerging patterns. The themes revealed cost reduction initiatives and revenue enhancements initiatives as the key strategies used by the business managers. The approach and direction used in these strategies showed variance based on cost and revenue drivers of the organizations. The findings of the study can be a guide for business managers to understand the essence of effective business strategies that counter challenging economic environments, thus sustaining profitability and developing additional employment opportunities for the surrounding community.
| Identifer | oai:union.ndltd.org:waldenu.edu/oai:scholarworks.waldenu.edu:dissertations-3863 |
| Date | 01 January 2016 |
| Creators | Sharaaz, Mohamed Jaffar Mohamed |
| Publisher | ScholarWorks |
| Source Sets | Walden University |
| Language | English |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | Walden Dissertations and Doctoral Studies |
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