Sustaining profitability in the marketing industry in Saudi Arabia through socio-economic approach to management (SEAM) implementation

Abstract

Since early 2015, the Saudi economy is facing difficulties and many companies are in the danger zone, thus leading to massive losses in profitability; where the first sector to get affected in any crisis is the marketing communication consultancy field. The agency under study openly welcomed the application of the socio-economic approach to management intervention in order for the management to comprehend the reasons why behind these losses, to grasp the root causes of the problems, highlight dysfunctions, transform hidden costs into potentials and prevent them from reemerging again; all of this was to sustain profitability rates and prevent closure of the operation. Within this preliminary educational intervention research, we will highlight the main results achieved and the aspiration for the future research that will take place in order for us to be able to generalize our findings.