The Intellectual Evolution of Strategic Management and Its Relationship with Ethics and Social Responsibility

The main purpose of this paper is to present an overview of the historical development of strategic management through a critical review of the most relevant theoretical proposals, and to consider its links to ethics and corporate social responsibility. From the very beginning of strategic management thought, attempts have been made to fuse ethical aspects, such as the values of senior management or social values or social expectations, to strategic management. More recently, the stakeholder view of the firm has permitted the introduction of ethical theories into strategic management, and the resource-based view of the firm has led to the consideration of competences, including moral virtues. Here it is argued that in spite of some advances, the integration of ethics into strategic management is not yet entirely satisfactory. Thus it is suggested that new directions are necessary to focus the integration of ethics and strategic management. * Professor, Business Ethics, Chair Economics and Ethics, IESE ** Senior Lecturer in Srategic Management, University of Valencia