000			01620nab a22001577a 4500
008			160615b2014 xxu||||| |||| 00| 0 eng d
100			_aDoh, Jonathan P
245			_aWhy your company may need a chief external officer _cUpgrading external affairs can help align strategy and impro
260			_c2014
300			_a96-104
520			_aCompanies and their executives have long had to factor external political and social environments into their strategic decisions. In recent years, however, political and social issues have become more complex and consequential. In just the past few years, major social and political events such as the Deepwater Horizon oil spill and the implementation of the Affordable Care Act have had profound and lasting impacts on business. As a result, some global organizations must develop new roles to manage these nonmarket phenomena. In this paper we review research on nonmarket strategy and its connection to competitive advantage. We document the often fractured nature of nonmarket functions in most corporations and suggest that proactive companies should consider creating a unified senior executive function to manage the political-regulatory and social-cultural environments. We illustrate how this role can improve the competitive advantage of the organization and we provide managers with a framework to explore different scenarios, structures and options for managing a wide range of nonmarket pressures.
650			_aCompetitive Advantage
650			_aCompetitive Strategy
650			_aChief External Officer
773			_aJournal of Organizational Dynamics _dApril-June
999			_c41517 _d41517