Corporate Strategy and Implementation

Richard Samans () and Jane Nelson ()

Chapter 5 in Sustainable Enterprise Value Creation, 2022, pp 141-186 from Springer

Abstract: Abstract This chapter focuses on practical actions that management teams are taking at the firm level to implement a more stakeholder-oriented approach that integrates ESG&D risks and opportunities into their core business strategy, business planning and operations across the entire value chain. The chapter starts by reviewing some of the ways that companies can create shared value, protect value and manage shared risks, and demonstrate purpose and shared values. It focuses on how executive teams are embedding purpose and material ESG&D factors into their company’s core business activities and functions and the importance of rigorous stakeholder consultation and materiality analysis and of credible communication and accountability with respect to these factors. The chapter also reviews good practices for strengthening the company’s understanding and management of material and salient ESG&D risks, including the integration or alignment of these with enterprise risk management frameworks. In addition to the importance of effective and holistic risk management, the chapter highlights some of the untapped opportunities for companies to invest in innovative new technologies, products, services, financing mechanisms and business models to profitably drive more inclusive and sustainable growth. It provides examples of how companies are promoting employee well-being, improving diversity and inclusion, investing in skills and future workforce development and enabling greater employee voice and participation. The chapter concludes with examples of advisory and accountability mechanisms that leading companies are establishing to strengthen their engagement with external stakeholders.

Keywords: Corporate strategy; Business planning; Value chain; Creating shared value; Corporate purpose; Values; ESG risks; Material risks; Salient risks; Materiality analysis; Innovation; Business models; Technology; Financing mechanisms; Accelerators; Employee well-being; Diversity and inclusion; Future workforce; Skills and traits; Trade unions; Works councils; Stakeholder engagement; Stakeholder consultation; Stakeholder mapping; Stakeholder advisory councils (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-93560-3_5

Ordering information: This item can be ordered from
http://www.springer.com/9783030935603

DOI: 10.1007/978-3-030-93560-3_5

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().