Abstract
The creation and preservation of competitive advantage remains the central concern of strategic managers (Lawton et al., 2013). Throughout this book, the contributors argue that in the modern world economy, the competitive advantage of a company is determined as much by its non-market strategy as it is by its market engagement. Following on Chapter 7’s discussion of corporate social responsibility (CSR), in this chapter we focus on the second pillar of non-market strategy, usually referred to in the literature as “corporate political activity” (CPA). This ranges from lobbying government through the use of political campaign contributions, to sharing information with political or regulatory actors, to attending political action committee meetings on policy formulation. Therefore, the key objectives of this chapter are to reflect on the various perspectives in the field, shed light on the dominant theoretical constructs in CPA, and set out a future research agenda. Our discussion underpins numerous subsequent chapters of this book.