Identified by the Thinkers 50 as a guru to watch, David Bach is dean of programmes at Spain’s IE Business School. He believes that companies need to give equal weight to how they manage relationships with governments, regulators, non-government organizations, the media and society at large. This is what he calls nonmarket strategy.
What’s the basic argument behind nonmarket strategy?
Increasingly competitive advantage can be built or lost outside of markets. That means there are huge opportunities for companies here but also immense dangers to anyone focused purely on the market side.