All the lectures and geustlectures thatComplete summary of all lessons with geustlectures and weblectures that are mandorary. In addition, it also states which pieces come from which paper, which is useful to look up in compulsory papers.
Strategic Marketing Management – Tilburg University – Marketing Management
Introduction Lecture 1
Marketing strategy: “A thoughtful plan by a company to produce desired outcomes in the
marketplace vis-a-vis customers, channel members and competitors”
• Best strategy is distinctive (different), coherent (stringed together), dynamic (change)
Strategic marketing decisions:
• Entail major resources commitments spread over long periods
• Impact over longer time periods
• Result in a distinguishable competitive advantage
• Irreversible or difficult to reverse
• Entails trade-offs (e.g., if strategy A -> strategy B & C foregone...)
• Made in the context of other strategic decisions (interdependencies)
• Made at a higher level of the organization
Tactical decisions = execution
- Short term (annual or quarterly) decisions to execute the strategic
directions within the firm
Strategic Social Responsibility Lecture 2
History
Milton Friedman = Shareholder capitalism → The social responsibility of a business is to
increase profits (from profit comes taxes) and from taxes government can pay for people
healthcare etc
Klaus Schwab = Stakeholder capitalism →Society’s goal is increase well-being of people and
planet
The business roundtable issued a statement on the “The purpose of corporations”
From focus on shareholders → to an inclusive approach to customers, employees, suppliers,
communities, and shareholders (to stakeholder capitalism).
- New business concepts are required to create and lead purposeful businesses
- Creating shared value
o Shared Value strategies simultaneously create value for the business and for
society
o Meeting Societal needs that expand opportunities (address able defined
market) for the business
o Scalable societal impact because shared value is self-sustaining
Creating shared value; moving beyond philanthropy and
corporate social responsibility...
,The “Value Spectrum” and its key actors...
Next to traditional business, new types of entrepreneurs emerge aligned with the value
spectrum
“The Eco System of Shared Value,” Harvard Business Review: Kramer, Mark and Marc Pfitzer (2016),
Why is CSV (creating shared value) increasingly a business imperative (necessary)?
• Legitimacy: creating value ‘’at the expense of’’ instead of ‘’ in harmony with’’
• Big societal issues are so complex that they require expertise and scalable business
models of private sector
What are the five key conditions for success in driving collective impact?
• Common agenda
• Shared measurement system
• Mutually reinforcing activities
• Constant communication
• Dedicated backbone support
Why is it so difficult and why do many businesses miss the opportunity?
• Legitimacy and importance of trust
• Competitive free riders
• Justification of investment
o Expertise required in both societal and business issues
o Long term commitment needed
o Ring-fenced budgets required
The importance of leadership:
Why “responsible” leadership?
• To not be responsible is not to be a leader” (Waldman and Galvin, 2008)
, • Corporate scandals
o Exxon Valdez, Union Carbide, Enron
• Reforms needed (responsible global leadership; European Foundation of Management
Development
• Despite “call for reform”, global economic crisis (consequence of irresponsible
leadership?)
• Need for a multilevel response to deficiencies in existing leadership frameworks and
Responsible leadership
- Definition: Responsible leaders build and cultivate sustainable relationships with
stakeholders to achieve mutually shared objectives based upon a vision of business as
a force of good for the many
- So ‘’responsible’’ implies responsibilities towards the various stakeholders
What are the key elements in “responsible leadership”?
• Respect, honesty, responsibility, accountability, morality, trust, driven by ethical
principles
• Compassion towards rest of society; social responsibility (triple P&L, CSV)
• Multi stakeholder approach: ecosystems
Strategic Social Responsibility lecture 3
ESG
ESG is a report where business express their (good) influences to society.
- A company gets a score on its ESG report → this significantly impacts investments
- Topic in ESG report are : Environmental (climate, sustainability), social (human
rights), govenance (employee compensation /management structure)
- Companies with ESG and high sustainability perform better in stock market
, Corporate Social Responsibility
Three Definitions of Corporate social responsibility:
(1) The voluntary integration of social and environmental concerns in their companies’
operations and in their interactions with stakeholders
(2) A commitment to improve [societal] well‐being through discretionary business
practices and contributions of corporate resources” (Kotler & Lee, 2005).
(3) Actions undertaken to display conformity to both organizational and stakeholder
norms” (Maignan & Ferrell, 2004) → compulsory reading
CSR: Background and Popularity: 2000s -today:
- Increasing awareness that companies shape society. Increasing focus on
how to do CSR strategically, versus just throwing money at a good cause.
- Strategic CSR: It’s about firm’s social welfare responsibilities that benefits both
the corporations and the stakeholders.
- Organizations focus on the social-responsibility concerns of its stakeholders.
Social Dimensions of CSR
→ effetely persuading good
→ don’t do harm
→ don’t break the law
→ Make profit
Economic Responsibilities is the foundation → every company starts with this. The on top
only exist of they can rest on the rest. So, if you good at philanthropic responsibility and not
on legal you are going to fall over.
Goal Dimensions of CSR
• Altruistic CSR: contributing to the common good at the possible expense of the
business for altruistic, humanitarian, or philanthropic causes
• Ethical CSR: it’s about the responsibility to avoid harms or social injuries
• Strategic CSR: It’s about firms social welfare responsibilities that benefits both
the corporations and the stakeholders.
Stakeholder Dimensions of CSR
Benefit of stakeholder dimension: force company to be more strategic.
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