Corporate Strategy and Corporate Accountability

This chapter is concerned with the relationship between corporate strategy and corporate accountability, arguing that in Britain, and in Anglo-Saxon countries generally, there are substantial areas of weakness arising from this relationship. It reviews some of the more common fallacies about the nature and sources of competitive advantage, emphasizing that this source is a distinctive capability that is both sustainable and appropriable. The chapter next describes the characteristics of firms which fail to meet these tests of appropriability and sustainability, before considering the nature of distinctive capabilities that do meet these standards. Architecture and the governance structure are then discussed in more detail. Lastly, the chapter comments on short- and long-termisms and draws some policy implications thereof.

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