Firms and industries increasingly subscribe to voluntary codes of conduct. These self-regulatory governance systems can be effectivein establishing a more sustainable and inclusive global economy. However, these codes can also be largely symbolic, reactive measures to quell public criticism. Cross-sector alliances (between for-profit and nonprofit actors) present a learning platform for infusing participants with greater incentives to be socially responsible. They can provide multinationals new capabilities that allow them to more closely ally social responsibility with economic performance. This paper examines (...) learning facilitators in cross-sector alliances that enrich corporate understanding of stakeholder concerns. It suggests that these organizational learning experiments can translate into globally responsible practices and processes that improve the content and effectiveness of voluntary corporate codes. (shrink)

Over the past decade, strategy and international business scholars have increasingly turned their attention to assessing how alterations in institutional arrangements in former centrally planned economies influence enterprise‐level strategies. Little is known about the strategic responses of organizations operating in countries going through institutional transformation related to social issues. Since the first democratic elections in 1994, the South African government has focused on addressing the inequalities of the past through what is known as Black Economic Empowerment (empowerment of historically disadvantaged (...) black people). In this paper, we investigate the approach used by the Amalgamated Banks of South Africa (ABSA) Group Limited, one of the top four banks and an important player in the South African financial services sector, in formulating and implementing strategy to ensure successful and sustainable organizational transformation. A key component of ABSA's Black Economic Empowerment strategy is incorporation of transformation as a business imperative and not merely as a compliance requirement. (shrink)