International Journal of Research in Finance and Management
2019, Vol. 2, Issue 2
Gaining competitive advantage from corporate social responsibility policy change
Dr. Dinh Ba Hung Anh and Dr. Nguyen Hoang Tien
This article offers two interrelated strategies to be used facing of social responsibility challenge. As integrated strategies, they both recognize non-market, social forces while dealing with traditional business issues and taking into account reality of the market. Avant-garde advocating for progressive social responsibility policy enables firms, the game-changers, to actively shape their own strategy by raising barriers to competitors striving to develop identical status. Systematically conforming to current and changing standards of social responsibility set forth by policy and supported by its activists allows firms, game-followers to adapt to the situation at their own pace. This article presents four case studies that highlight how some firms have successfully implemented these strategies while some others have not.