Journal
CORPORATE GOVERNANCE-THE INTERNATIONAL JOURNAL OF BUSINESS IN SOCIETY
Volume 7, Issue 4, Pages 434-+Publisher
EMERALD GROUP PUBLISHING LTD
DOI: 10.1108/14720700710820515
Keywords
Corporate social responsibility; Stakeholder analysis; Savings banks; Customers; Product differentiation; Innovation
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Purpose - The purpose of this article is to present how innovations in the social action program of a Spanish savings bank produce strategic changes in the organization. Design/methodology/approach - The paper follows a historical approach, first studying Spanish savings banks in general and the Caja de Ahorros de Navarra (CAN) in particular. It then examines the strategic challenges that the CAN faced in 2002 and the organizational response through the You choose, you decide'' initiative. The implementation of the program is chronicled and results evaluated against strategic objectives. Findings - In embodying the social action program of the CAN, the You choose, you decide'' campaign has successfully differentiated the bank. Customer-stakeholders have acquired a high degree of identification with the bank since they now decide on the beneficiaries of the social action program as well as their level of prioritization. Originality/value - This work is of special interest to bank managers who would like to incorporate CSR and increased stakeholder involvement into their strategic and differentiation objectives.
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