Analyzing the Factors Affecting Synergy Creation in Multidisciplinary Holding Companies

Abstract

The present study aimed to identify and analyze the interrelationships among the factors influencing synergy enhancement in multidisciplinary holding companies to address the challenges associated with leveraging the potential capacities of subsidiary companies for greater value creation. In terms of its purpose, the study was both fundamental and applied, while methodologically, it employed a mixed qualitative–quantitative approach. The research participants consisted of 14 senior managers and experts from a holding investment company, who were selected through purposive non-probability sampling. The identification of the key factors, including environmental, strategic, organizational, collaborative, and operational factors, constituted the main finding of the qualitative phase, which was conducted through content analysis based on a systematic review of the theoretical literature and semi-structured interviews. Subsequently, the relationships among the factors, their influence and dependence, as well as their relative weights and priorities, were determined using a Fuzzy DEMATEL-based Analytic Network Process (ANP) through a pairwise comparison questionnaire. The results indicated that the environmental factor had the greatest influence and affected the strategic, organizational, collaborative, and operational factors, respectively. The prioritization results revealed that managers and decision-makers should prioritize enhancing supply chain synergy, followed by enhancing production and operational synergy, and enhancing market and sales synergy within holding companies. Achieving these objectives requires governmental legal, regulatory, and supportive measures. Furthermore, strategic alignment is essential for enhancing synergy among the companies within multidisciplinary holding structures.