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  • Print publication year: 2010
  • Online publication date: June 2012

4 - How do we build corporate social strategy?

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.

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