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Open AccessArticle

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

1
Department of Business and Law, Northumbria University, London E1 7HT, UK
2
Department of Business, Arden University, London EC3N 4DX, UK
3
Department of Business, Cumbria University, London E14 6JE, UK
*
Author to whom correspondence should be addressed.
Sustainability 2020, 12(15), 6057; https://doi.org/10.3390/su12156057
Received: 13 June 2020 / Revised: 14 July 2020 / Accepted: 18 July 2020 / Published: 28 July 2020
(This article belongs to the Special Issue Sustainable Marketing, Branding and CSR in the Digital Economy)
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. View Full-Text
Keywords: business analytics; social media; CSR; strategy formulation; strategic planning; governance business analytics; social media; CSR; strategy formulation; strategic planning; governance
MDPI and ACS Style

Bowen, G.; Appiah, D.; Okafor, S. The Influence of Corporate Social Responsibility (CSR) and Social Media on the Strategy Formulation Process. Sustainability 2020, 12, 6057.

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