Book contents
- Frontmatter
- Contents
- Figures
- Tables
- Acknowledgments
- 1 Introduction
- Part I Fundamentals
- 2 Is corporate social strategy ethical?
- 3 Theory of the firm and corporate social strategy
- 4 How do we build corporate social strategy?
- 5 Elements of successful corporate social strategy
- Part II The process of developing corporate social strategy
- Part III Implementing social strategy
- Bibliography
- Index
4 - How do we build corporate social strategy?
Published online by Cambridge University Press: 05 June 2012
- Frontmatter
- Contents
- Figures
- Tables
- Acknowledgments
- 1 Introduction
- Part I Fundamentals
- 2 Is corporate social strategy ethical?
- 3 Theory of the firm and corporate social strategy
- 4 How do we build corporate social strategy?
- 5 Elements of successful corporate social strategy
- Part II The process of developing corporate social strategy
- Part III Implementing social strategy
- Bibliography
- Index
Summary
Introduction
The sagacious management of firm resources has been at the core of strategic management theory for half a century (Penrose, 1959). In fact, if strategic management scholars agree on anything, it is that firm success rests on how firms develop and acquire, organize and deploy resources in competitive market environments.
Accordingly, strategy rarely focuses directly on wealth creation or profit, but rather on the intermediate or proximate goal of competitive advantage. Profit, in this scheme, is the end result of having a competitive advantage and leveraging it (Porter, 1980, 1985). Create competitive advantage, get your products and services to the market, and the profits should come.
- Type
- Chapter
- Information
- Corporate Social StrategyStakeholder Engagement and Competitive Advantage, pp. 64 - 85Publisher: Cambridge University PressPrint publication year: 2010