Strategic Management System for Competitive Business Performance in the United Arab Emirates

Abstract

An organizational business strategy's primary purpose is to achieve good financial performance, commitment to customer satisfaction, and competitive business performance to sustain the enterprise's profitability and business continuity effectively. This study aims to determine the strategic management system components in predicting financial performance, commitment to customer satisfaction, and competitive business performance. The method used was the descriptive quantitative type of research employing the structured survey questionnaire to apply the Likert Scale. To the study's answer, survey questionnaires were distributed to the respondents, namely business owners, CEOs, managers, engineers, working professionals, and rated them using the Likert Scale. They were asked to rate the following independent variables as planning, risk analyzing, organizing, performing, evaluating, realigning related to the strategic management system for financial performance and commitment to customer satisfaction competitive business performance. Based on the result and findings, the effect of the variables performing, evaluating, and realigning financial performance is significant: F=86.338; (p=0.001, 0.005, and 0.001). Therefore, the strategic management system components, namely performing, evaluating, and realigning, are useful predictors of financial performance. The influence of the variables planning, evaluating, and realigning on the commitment to customer satisfaction is significant, and these are F=76.308; (p=0.001, 0.025, 0.000) respectively. It can be concluded that the strategic management system components, namely planning, evaluating, and realigning, are useful predictors of commitment to customer satisfaction. The four combinations of independent variables, namely risk analyzing, organizing, performing, and evaluating competitive, are significant to competitive business performance: F= 94.82: (p= 0.000, 0.001, 0.001, 0.000). The four variables account for 84%, which indicates high accuracy prediction from the four variables. Finally, strategic management system components, namely, planning, risk analyzing, organizing, performing, evaluating, and realigning, can effectively predict financial performance, commitment to customer satisfaction, and competitive business performance. Therefore, it is recommended to use the PROPER strategy components by all business owners and practitioners to effectively execute their operations and activities on whatever business model or venture they wanted to start by creating appropriate policies and procedures to ensure its business continuity, profitability, sustainability, and growth.