From Behavioral Strategy to Emotional Strategy: It Is Time to Use Emotions as a Competitive Advantage

Resumen

This paper reviews relevant research from various disciplines: business stakeholders, behavioral strategy, and stakeholder motivations topropose a holistic and integrative approach to the discipline of businessstrategy formulation. The purpose is topropose a holistic view of the formulation of business strategiesfocused on fulfilling the emotional needs of business stakeholders and providea framework for future research. There is an opportunity to develop successfulbusiness strategies by considering two dimensions: On the one hand, considering the motivations and aiming to fulfill the needs of all company stakeholders not purely economic return.On the other hand, among these motivations, emotional needs have anincreased role particularly in the developed world were a significant part ofthe physiological needs are already covered. The article opens a new avenue forfuture business strategy research. By delivering socioemotional value tostakeholders, companies can complement the current economic based approach andcreate additional sustainable competitive differentiation.