The Search for Corporate Strategic Credibility: Concepts and Cases in Global Strategy Communications

The Search for Corporate Strategic Credibility: Concepts and Cases in Global Strategy Communications

The Search for Corporate Strategic Credibility: Concepts and Cases in Global Strategy Communications

The Search for Corporate Strategic Credibility: Concepts and Cases in Global Strategy Communications

Synopsis

Dr. Higgins makes clear that "corporate strategy, regardless of how elegantly conceived, how comprehensive its scope or how forward-looking its thrust, does not provide competitive advantage until it is communicated, understood, valued, and acted upon by a variety of key corporate stakeholders". His book is thus developed to advance the theory and practice of corporate strategy communications. With two chapters devoted to conceptual foundations and empirical research, plus five new case studies illustrating his points, Dr. Higgins's book not only builds on existing research in strategic planning and management and "reputation management", but offers new research findings as well. Interdisciplinary, integrative, and international in scope, the book will be of special interest to corporate management, strategic planners, corporate communications and investor relations executives, and other professionals in the investment community, and to academics with similar research and teaching interests.

Excerpt

In the 1990s, as the multinational corporation gives way to the transnational organization, as domestic strategies are replaced by global strategies, and as strategic alliances, partnerships and joint ventures proliferate, corporate competitiveness will be achieved by those companies that are successful in formulating, implementing and communicating sound global strategies. For several decades, corporate strategy practitioners and academic researchers have drawn widespread attention to the importance of formulating comprehensive, sound, forward-looking corporate strategies. The connection between formal strategic planning systems and firm performance has been studied and re-studied with little consensus regarding a correlation between the two. More recently, strategy implementation has been heralded as the key to corporate strategic success.

However, corporate strategy, regardless of how elegantly conceived, how comprehensive its scope, or how forward-looking its thrust, does not provide competitive advantage until it is communicated, understood, valued and acted upon by a variety of key corporate stakeholders. Employees must understand, accept and internalize corporate strategy if the strategic blueprint is to be transformed into positive strategic results. Suppliers, strategic partners and customers must have a basic understanding and appreciation of the firm's strategic direction if these stakeholder relationships are to flourish and be productive. The financial community must be aware of a company's strategic intentions in order to properly evaluate a firm's current value and prospects for the future. Only when the corporate strategy message is communicated in a clear, concise, timely and persuasive manner to key corporate stakeholders does the firm have an opportunity to achieve competitive advantage. The focus of this book is on corporate strategy communications designed to create competitive advantage.

Effective strategy communications can result in significant benefits. Payoffs . . .

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