Identification of Influential Factors, Determination of Key Dimensions, and Development of a Strategic Framework for Defense Industry Holding Companies

Document Type : Original Article

Authors

1 PhD Student in Business Management, Kish International Campus, University of Tehran, Tehran, Iran (Corresponding Author) Email: nourimohamadani.m@ut.ac.ir

2 Professor of Business Management, Faculty of Management, University of Tehran, Tehran, Iran

3 Professor of Industrial Management, Faculty of Management, University of Tehran, Tehran, Iran

Abstract

The defense industry relies on the structure of holding companies to meet the country’s military and economic needs. These holding companies, in order to manage and create more value than the sum of their subsidiaries, require corporate-level strategies. However, due to their relative novelty, there has been limited systematic and rigorous research on this topic. Since the strategy of a holding company is unique for each industry and is effective only when it emerges from both content and process as well as from the expertise of professionals, this study aims to identify the key factors of strategic management in defense industry holding companies and to develop a structured framework for them based on a qualitative, strategy-oriented, grounded data approach inspired by Saunders’ research onion. Through purposive theoretical sampling, 23 senior managers from eleven defense industry holding companies were selected for semi-structured interviews, reaching data saturation by the fifteenth participant. From the interview data, 124 initial codes, 43 core codes, and 13 selective codes were extracted, summarizing the influential factors on holding company strategies across four tables. These factors were then categorized according to Strauss and Corbin’s systematic approach (1998) into causal, contextual, and intervening factors, and their impact on the central phenomenon, strategies, and value-creating outcomes was determined. The final framework demonstrates the relationships among these factors. Findings indicate that focusing on strategy, improving interaction with subsidiaries, aligning structures, adopting appropriate influence models, enhancing coordination across holding company levels, and maturing business units are key for the effectiveness of defense industry holding companies.

Keywords

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Interdisciplinary Studies on Strategic Knowledge
Volume 9, Issue 35
December 2025
Pages 221-266

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