June 13, 2013

The difference between CSR strategy and common business strategy

Effective management of firm resources has been at the core of strategic management. It is based on firm success rests on how firms develop and acquire, organize and deploy resources in competitive market environments. 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. Create competitive advantage, get your products and services to the market and the profits should come.

Social strategy is a throwback to earlier strategy models that take into account the firm's internal environment (resource and value) and the organisation's reliance upon and interaction with an external environment composed of both market and nonmarket factors. The raw materials of corporate social strategy are social issues and stakeholder positions on those issues. From there, firm develop social action projects that acquire key resources from the environment and build on critical firm resources which in combination, are difficult to imitate and lead to the creation of new products and services that provide additional value for current or new customers.

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