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11 - SBM in Society

Published online by Cambridge University Press:  02 November 2023

Nicola Persico
Affiliation:
Northwestern University, Illinois
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Summary

In this chapter I address two related questions: would it be desirable to restrict the business sectors ability to advocate? And, should corporations be encouraged to interface with society in a different way? I make the case that, if business was restricted in its ability to communicate with government officials, the officials would likely make decisions less accurately, but not any more independently of business. Furthermore, I argue that allowing relatively unfettered business advocacy can help ensure that regulations are innovation-friendly and, moreover, that in comparison to other political systems, the USs openness to business advocacy actually promotes innovation. These two arguments, when taken together, amount to a cautious case against restricting business advocacy. I then discuss a different way in which business organizations operate in the political arena: namely, the leveraging of the business organizations relationship with its customers, suppliers, or workers to pursue societal goals not directly tied to its own business. I argue that this behavior, despite being well-intentioned and popular with a segment of public opinion, should be approached with some caution by business corporations.

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Chapter
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Strategy Beyond Markets
Political Economy from the Firm's Perspective
, pp. 146 - 159
Publisher: Cambridge University Press
Print publication year: 2023

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  • SBM in Society
  • Nicola Persico, Northwestern University, Illinois
  • Book: Strategy Beyond Markets
  • Online publication: 02 November 2023
  • Chapter DOI: https://doi.org/10.1017/9781009393744.012
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  • SBM in Society
  • Nicola Persico, Northwestern University, Illinois
  • Book: Strategy Beyond Markets
  • Online publication: 02 November 2023
  • Chapter DOI: https://doi.org/10.1017/9781009393744.012
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • SBM in Society
  • Nicola Persico, Northwestern University, Illinois
  • Book: Strategy Beyond Markets
  • Online publication: 02 November 2023
  • Chapter DOI: https://doi.org/10.1017/9781009393744.012
Available formats
×