Choosing and Implementing SSM Strategies
This chapter focuses on key strategic management processes and practices required for successfully choosing and implementing sustainable strategic management (SSM) strategies in business organizations. Strategic choice in SSM begins with strategic managers choosing viable strategies that will allow their firms to achieve their triple-bottom-line performance goals in sustainability-rich business environment. Strategic managers are responsible for identifying, analyzing, and choosing among alternative SSM strategies at all three strategic levels— functional, competitive, and corporate. Functionally, firms can implement strategies that enhance the triple-bottom-line performance of both their primary and supporting value-chain activities, contributing valuable data for SSM decision making. Competitively, firms can seek both cost-based and differentiation-based SSM competitive advantages by managing the strategic fit between internal, external variables, choosing strategies that enhance this fit. Strategic managers must make strategic choices regarding how to configure their firms' whole-pyramid portfolios into a system in which sustainability-centered synergies between SBUs can identified and exploited to create sustainable, shared value for multiple stakeholders.