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Michael Porter States that the factors that SET THE LIMITS TO THE FORMULATION of strategies are the;
>strengths and weaknesses of the company
>threats and opportuity to the industry
>personal values of the key implementers
>broader societal expectations
Collectively, this has become known a the basis for corporate strategies.
- Thus, it is the task of the of the strategic manager to anticipate changes in the different macroenvironmental segments (8 segments).
- Management must then change the internal environment of the firm in order to prepare the firm to either cope or exploit these potential changes in the external environments.
"If we are to take corporate responsibility seriously,
then strategic managers have a responsibilty to make sure that
business firms transcend or go beyond adapting to the environment.
It is infact their responsibility to become Agents of Change in the macroenvironment".
*Underline and bold letters are supplied for emphasis
Prof Elfren Cruz, "Family Business and Strategic Management"
"In the context of Porter's framework, the social responsibilities of business are not an objective but, rather one of the basis for strategy. From this perspective, corporate social responsibility is, therefore, not a matter of choice but an intrinsic step in strategy formulation".*Underline and bold letters are supplied for emphasis
Prof Elfren Cruz, "Family Business and Strategic Management"
Meaning of Corporate Social Responsibility (CSR)
"In the present Philippine environment, corporate social responsibility must be defined as the obligations and responsibilities of business to society, that in the pursuit of the profit motive, the basis for its corporate acts and strategies should include its commitment to protecting the environment, upholding te rights of its workers and contributing to the improvement of the quality of life of its community and society at large".*Underline and bold letters are supplied for emphasis
Prof Elfren Cruz, "Family Business and Strategic Management"
