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Business Strategy & Sustainability: Summary of Key Concepts for All Papers

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Short summary of all the key concepts to know for the exam and every single paper. Very useful for memorizing before the exam.

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sustainability
stakeholder
ngo
social responsibility
green
green management
climate change
renewable energy
business strategy sustainability
corporate social responsibility

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CSR: at organ lvl (1. Triple bottom line, 2. Stakeholder, 3. Voluntary, 4. Context-specificity, 5.
Managing externalities to sustainable dev, 6. Rooted in values and ethics)
CSR = resp of enterprises for impacts on society
Corp Sustainability: global/system lvl (= meet present needs, don’t compromise…)
Shared Value: econ value + value for society by addressing its needs and challenges
Green Public Purchasing (GPP): public admins include env perf to choose suppliers
Resource: physical and financial assets + employee skills and organ processes
Capability: thing firm can perform, stems from resources and routines of firm
Sustainable Entrep: discovery/exploitation of econ opp through generation of market
disequilibria that initiate transformation of a sector towards env and socially more sustainable
Definitions state
OR: obtaining entrep rents while improving local/global social and env conditions
 comb of econ, social and env value creation
Stakeholder: group/indiv that affects/is affected by achievement of organ’s objectives
Stakeholder theory: explain relationship b/w organ and people w/ ‘stake’ in business activity
NGO: independent from… not gov, not business, not for-profit or political office
NGOs and activists organize around ideas, shared belief
Mapping STK: Identify (list relevant stk)  Analyse (understand stk perspectives/interests) 
Map (visualize relationships to objectives + stk)  Prioritize (rank stk relevance & identify
issues)  Engagement (choose actions in stk specific way)  Monitoring (measure & return to
identify)

Week 1: Perspectives: Intro to CSR

 Social responsibility of business is to increase profits
 Business not a person  no responsibility
Friedman
 If manager acts in accordance with his SR, he spends someone else’s money
(1970)
 CSR = theft or tax
 Exec selected by stockholders to serve interests of his principal (gone when social)
 The link between CA and CSR
 CSR efforts not been productive (Business vs. society), CSR should be strategic (not generic)
Porter &
 Four prevailing justifications for CSR
Kramer (2006)
 1. Moral obligation, 2. Sustainability, 3. License to operate, 4. Reputation
‘’Strategy &
 All four share same weakness  focus on tension b/w business & society
Society’’
 Companies need healthy society; society needs successful companies (shared value)
 Identify  Choose issue  Create corp social agenda  integrate  create social value dimens
 CSR can’t always deliver business results, creating SV not the norm (poor coordination)
 CSR activities  1. Philanthropy (not improve business or profits) 2. Operational
Rangan et al.
Improvements (social/env benefits support operations, often improve efficiency) 3. Transform
(2015) Business Model (create forms of business specifically to address social/env challenges)
‘’Truth about  Measure success? 1. Non-fin 2. Fin and non-fin, 3. Non-fin and fin, and how two are connected
CSR’’
 Best  coordinated and interdependent programs across CSR portfolios
 Aligned with firm’s business purpose, values of companies stk and needs of communities

 CSR literature review, segregate lit into instit, organ and individual lvls of analysis
Aguinis &
 Confusing terminology, fast growth of research, mostly organ lvl
Glavas (2013)
 Predictors CSR  instit and stk, regulation, firm motives, firm mission and values and needs
‘’What we know
 Outcomes CSR  reputation, loyalty, image, financial perf, capabilities, reduce risk
and don’t about
 Mediators  stk relations, intangible assets, man interpret of CSR, employee perceptions
CSR’’
 Moderators  stk salience, industry regulation and growth, R&D, finances, firm size

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