Effective International Corporate Diversification and Performance Improvement Strategies

Ineffective international diversification strategies can potentially cause negative operational performance and return on investment (ROI). Business leaders are concerned with ineffective international diversification strategies, as performance improvement drives business growth, innovation, and profitability in international markets. Grounded in the Baldrige excellence framework (BEF) and stakeholder theory, the purpose of this qualitative single case study was to identify and explore effective international diversification strategies senior leaders can use to create a franchise or growth platform for organizational expansion. Participants were two experts in the business consulting industry in New Zealand who contributed to international diversification strategies. Data were collected using semistructured interviews and a review of organizational data. Through qualitative data analysis, data reduction, data display, and data coding, four themes were identified: effective operational procedures, research and development on risk and emergency preparedness, high-performance industry leadership, and innovative action plan formulation for holistic energy enhancement and performance maximization. A key recommendation is for senior leaders to adopt performance excellence strategies which incorporate elements of the BEF to develop a performance management system and support a franchise growth platform. Implications for positive social change include the potential to improve informed decision-making to benefit stakeholders across various industries.