The Role of Strategic Leadership in the Profitability of Large Organizations
Large organizations in the United States endure a 30%-50% failure to achieve profitability. Senior executives' lack of strategies to ensure profitability diminish performance and economic growth. The purpose of this qualitative single case study was to explore strategies senior executives use to ensure profitability in large tax preparation organizations. The conceptual framework for this study was the resource-based view theory. The sample consisted of 2 board members and 3 senior leaders from a large tax preparation organization located in the United States. Study site participants had at least 15 years of experience in enhancing organizational profitability and 5 years of experience using strategies to ensure profitability in tax preparation organizations. Data were collected using semistructured interviews and organizational documents. Data were analyzed using a thematic analysis. Five themes emerged, including effective planning, risk management, the use of unique resources, development of training and skill for strategic leaders, and organizational performance. Findings derived from this study may contribute to social change as senior executives use efficient strategies to increase economic viability and employment opportunities through improved business growth while ensuring profitability.