Multi-business companies in Indonesia face a changing industrial environment, from a political, economic, social, technological, and other environmental factors. Multi-business companies are also facing intense competition pressure, both from local, national and global companies. Therefore, many multi-business companies are unable to survive the existing competition. For multi-business companies, strategy is very important, especially corporate strategy, because multi-business companies are so complex that they have to manage many subsidiaries. This is different from a single business company that only manages one business unit. In a multi-business company, the parent company is in charge of managing existing production lines and business units. in order to generate maximum value for the parent company. It seems that Parenting Strategy is the best solution for managing multi-business companies according to the industrial environment at hand. This research was conducted to determine how the implementation of the parenting strategy at the business unit level of a multi-business company in Indonesia, in this case PT. Telkom Indonesia. Tbk, which has 32 subsidiaries. This research is descriptive, using explanatory survey method and cross  sectional method. Based on the results of analysis and mapping according to the Parenting Matrix, the following results are obtained, 14 business units are in Heartland Business, 11 business units are in the Ballast Business, 6 business units are in Value Trap Business and 1 business unit is in Alien Business.

Keywords
Parenting Strategy, Multi Business, Parenting Matrix.