Corporate Governance and Strategy in the Retail Sector
Journal Title:Organization Leadership and Development Quarterly (OLDQ)
The retail industry in UAE is therefore experiencing the growth stage and significant extension strategies should be adopted in line with the changing business environment and technological advancements. The corporate governance and strategy problems within most organizations encompass poor organization climate, structure, culture, and strategies that are misaligned to the ever-changing operating environment. Therefore, the study examines the corporate governance and strategy loopholes within retail firms and proffer sustainable solutions for growth. Based on the analysis of questionnaire and interview responses, the study found out that the retail industry is facing intense competition from international brands. This is mainly fuelled by the low barriers to entry and the flexible regulatory environment in most economies. Retail giants are expected to lead the innovation agenda because most of the industry players are making use of numerous online retail channels. The study recommends significant organization development interventions to support the continuous growth of retail sector firms.