Incorporating CSR and stakeholder management into corporate strategy: a case study of the CAN experience 2002‐2006

Purpose The purpose of this article is to present how innovations in the social action program of a Spanish savings bank produce strategic changes in the organization. Design/methodology/approach The paper follows a historical approach, first studying Spanish savings banks in general and the Caja de Ahorros de Navarra (CAN) in particular. It then examines the strategic challenges that the CAN faced in 2002 and the organizational response through the “You choose, you decide” initiative. The implementation of the program is chronicled and results evaluated against strategic objectives. Findings In embodying the social action program of the CAN, the “You choose, you decide” campaign has successfully differentiated the bank. Customer‐stakeholders have acquired a high degree of identification with the bank since they now decide on the beneficiaries of the social action program as well as their level of prioritization. Originality/value This work is of special interest to bank managers who would like to incorporate CSR and increased stakeholder involvement into their strategic and differentiation objectives.