The Role of Non-Economic Concerns in Strategy Formulation

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The Role of Non-Economic Concerns in Strategy Formulation
milton musukwa, Member
What is the relevance of non-economic concerns of society and corporate culture and how do they affect the formulation and implementation of strategy?

The Role of Non-Economic Concerns in Strategy Formulation
Jaap de Jonge, Editor
Hi Milton, good question with many possible answers...To get started, take a look in the following knowledge centers:
- Stakeholder Management
- Corporate Responsibility
- Corporate Sustainability
- PEST Analysis
All the best.

Impact of Non-economic Factors on Strategic Analysis
Ramesh Gopinath Tagat, Member
Very relevant to MNCs in developing countries in terms of social investment, in corporate social responsibility. Cross-cultural interactions for product and service management to suit to local needs. Also refer to Prof CK Prahalad's " Fortune at the Bottom of the Pyramid" which had a breakthrough influence on western MNC's in developing countries in Asia, Africa and Latin-America...
As formulation and implementation of the strategy has to align with every subsystem in the changing dynamic environment, the impact of fast changing information and communication technology on social and cultural aspects have become the major strategic success indicators. So also aligning the corporate culture to changing environment to manage increasing employee diversity has become paramount for the survival and growth of corporates in the long run.



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