Scholarly record

THE IMPACT OF PUBLIC AFFAIRS FUNCTIONS: NEW APPROACHES AND KEY IMPLICATIONS FOR BUSINESS STRATEGY

A. Cara, B. Elia, G. Ferruzzi

Abstract

Background/Purpose- Over recent years, in the Italian scenarios, several routes have been entered to face the lack of complementarity and interaction between public and private bodies. Although, the management dimension of public affairs fields has assumed relevant proportions in both social and economic terms, companies still struggle in considering it as a deserving capacity of their strategies, germinating the absence of a committed task. In this framework, the paper aims to define a theoretical and practical model ready to demonstrate the impact of public affairs models through to business networks. Without regard to any other production, authors will grade different combinations of models and analysis with the view to ultimately define an innovative matrix in order to determine, under qualitative and quantitative terms, the consistent profitability of the function investment. Methods– The work is articulated in four steps: first, a proper analysis of existing task and general environment strategic models is in-depth; then, the assessment of a selection among those as the ideal base for Public affairs instruments and characteristics value chain integration is shown; moreover, the definition of a new metrics based model is analysed and its economic-financial political feasibility analysis based on a ROI outcomes quantification and Key Performance Indicators (KPIs) is tackled. Results/Originality/Value– The approach undertaken appears to be totally innovative for the original definition of a new forge for the fulfilment of both companies and institutions needs and objectives. The potential of the research seems evident in consideration of the high feasibility in worldwide contextual realism and companies range, and consequent profitability of the application of the model, since the research represents a full strategic portfolio service package in order to follow the integrated investment cycle, transcending conventional indicators for the achievement of a medium and long?term economic, social, political value creation. Conclusion/Practical Implications– The attractiveness of the model is going to be crucial for the differentiation of business culture and decision makers in order to contribute to the re-launch of different industrial policies and to contribute to the development of the transparent competitive performances of capital-intensive market. From this point of view, the incentives resulting from the model’s application will eventually draw all different stakeholders to differently combined competences and endowments in order to undertake more collaborative and profitable action plan as to acquire a proactive role in the political decision-making, anticipating economic and occupational circumstances and needs.

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