Promoting a strategic business focus to balance competitive advantage and corporate social responsibility–missing elements

Alan J. Fish and Jack Wood

Social Responsibility Journal, 2017, vol. 13, issue 1, 78-94

Abstract: Purpose - This paper aims to highlight dysfunctional multi-stakeholder relations and negative business outcomes, evidenced in lose/lose results, exacerbated by failure to acknowledge strategic business focus as a means to redress problematic business thinking and practice amongst key leadership teams associated with achieving balance between competitive advantage and corporate social responsibility. Design/methodology/approach - The reframed strategic business focus has been developed using Eastern philosophy and Western organization theory and refers to four case examples of dysfunctional business thinking and practice. Findings - Strategic business focus results from an interdependent and complementary positive mediating relationship between competitive advantage and corporate social responsibility, which is moderated by organization culture (organization core values, including shared value) and strategic human resource management (talent and mindset). Research limitations/implications - Strategic business focus as proposed has not been empirically tested but seeks to address a conceptualization that competing business and stakeholder agendas are interdependent and complementary. Practical implications - Strategic business focus seeks to redress traditional win/lose and lose/lose business outcomes, by supporting win/win results, represented by shared value amongst multi-stakeholders. Social implications - Strategic business focus seeks to provide a means whereby corporate social responsibility, particularly the social contract, plays a key role in the decisions and practices of key leadership teams and the behaviour of corporate staff in host environments when seeking competitive advantage. Originality/value - Eastern thinking and behaviour are usually undervalued in the western business literature, particularly in western business practice. Joint attention, however, may improve competitive advantage and corporate social responsibility agendas in support of diverse management practices, including shared value.

Keywords: Shared value; Corporate social responsibility; Competitive advantage; Organization core values; Strategic business focus; Talent and mindset (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:eme:srjpps:srj-04-2016-0054

DOI: 10.1108/SRJ-04-2016-0054

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