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Aligning for AdvantageCompetitive Strategies for the Political and Social Arenas$
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Thomas C. Lawton, Jonathan P. Doh, and Tazeeb Rajwani

Print publication date: 2014

Print ISBN-13: 9780199604746

Published to Oxford Scholarship Online: April 2014

DOI: 10.1093/acprof:oso/9780199604746.001.0001

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Ensuring Balance

Ensuring Balance

Chapter:
(p.172) (p.173) 10 Ensuring Balance
Source:
Aligning for Advantage
Author(s):

Thomas C. Lawton

Jonathan P. Doh

Tazeeb Rajwani

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199604746.003.0010

This chapter provides a route map for linking political and social strategies to business objectives and market positions. It advances the business case for investing in political and social strategies within a commercial organization. It starts from the premise that every organization is a community dedicated to the maintenance and development of a value-creating system in the market and nonmarket. To implement nonmarket strategies, firms must assess and evaluate the political and social benefits and costs of delivering value to different stakeholders. It suggests that individual elements of the nonmarket strategy must be built, maintained, and reinforced by keeping balance in various steps that determine business performance. Nonmarket monitoring is the final step in successful nonmarket implementation, requiring companies to foster a culture of integrity and ethics and thereby reduce risks associated with engaging with market and nonmarket stakeholders.

Keywords:   implementation, value-creating system, culture, ethics, political and social benefits

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