Essay from the year 2012 in the subject Politics – Topic: European Union, grade: 8, 0, Maastricht University, language: English, abstract: In an ever more regulated world with a fast changing environment, the task of political strategic management, in former times viewed as cost, becomes crucial for companies trying to exploit opportunities. The growing number of company representatives in Brussels and Washington indicates this. Especially for companies with a business model dependent on the political environment, policies and legal framework, political management becomes as important as basic functions such as marketing. The following paper provides a guideline how companies can influence their political environment to maintain or create value in different societal-political contexts. It starts with the explanation of a compliance-based approach and continues with the influence-oriented approach. Four strategies are outlined, supplemented by means to accomplish the aim and classified within the societal-political contexts of corporatism and pluralism. Finally, there is a recommendation for firms which strategy to choose with respect to their societal-political context.
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