The Influence of Corporate Social Responsibility (CSR) and Social Media on the Strategy Formulation Process

Bowen, Gordon, Appiah, Dominic and Okafor, Sebastian (2020) The Influence of Corporate Social Responsibility (CSR) and Social Media on the Strategy Formulation Process. Sustainability, 12 (15). p. 6057. ISSN 2071-1050

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The current theory on strategy formulation is based significantly on environmental analysis and leveraging strategic capability. There is limited understanding of how corporate social responsibility (CSR) and social media strategies could develop the strategy formulation to improve strategic outcomes. The input into the strategic formulation process does not tend to take account of customers' inclination for CSR practices and policies. This is particularly important for consumers who can spurn organisations that do not incorporate ethical practices in their core values. The paper aims to show that social media is an inclusive tool, because of the duplex communication techniques that enhance it, and CSR is complementary to building a robust strategic planning process. The methodology is a qualitative case study using a reflective perspective based on a complete participant role. The results demonstrate that there are challenges in operating a strategic planning process that is situated in an uncertain, volatile and dynamic business environment; it requires an integrated partnership between the inter-organisational actors and other stakeholders. Social media is the integrator of resources and CSR helps to build relationships, acting as a reinforcer of trust.

Item Type: Article
Uncontrolled Keywords: Business analytics, CSR, Governance, Social media, Strategic planning, Strategy formulation
Subjects: L900 Others in Social studies
N900 Others in Business and Administrative studies
Department: Faculties > Business and Law > Newcastle Business School
Depositing User: Rachel Branson
Date Deposited: 05 Jul 2022 15:18
Last Modified: 05 Jul 2022 15:30

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