1309: Towards an Integrated Perspective: Synergies and Trade-Offs in the Repertoire of Nonmarket Strategy (10384)

Firms in the contemporary business environment employ diverse nonmarket strategies, including Corporate Political Activities (CPA) and Corporate Social Responsibility (CSR). While extensive research has demonstrated the individual benefits of these strategies, their nuanced interplay remains underexplored. This gap is crucial for firms as they contend with mounting stakeholder scrutiny and demands for improved alignment in these initiatives. However, the existing nonmarket scholarship provides limited insights into firms’ strategic responses to achieving this alignment or alternative approaches that firms can employ to mitigate risks stemming from stakeholders' perceptions of misalignment between these activities. The escalating expectations of stakeholders regarding firms' involvement in activism further complicate these dynamics, as they prompt firms to engage in socio-political issues that have been the target of neither CPA nor traditional CSR efforts. These complexities underscore the pressing need for research that adopts an integrated perspective, delving into the relationships between these engagement methods and the considerations firms must weigh to craft an "optimal" portfolio of socio-political engagement. In this symposium, our distinguished panel of scholars will address these questions and offer insights into potential directions for future research in this domain, drawing from their expertise in strategic management, organizational theory, and political economy.