In current business practice, companies often tackle societal issues in a rather fragmented and unstructured way. This leads to remote societal activities that often fail to reach their full potential for societal and busines value creation. Based upon the argument that a strategic approach towards societal issues can serve as a source for competitive advantage while at the same time yielding substantial societal benefits, this paper focuses on the development of societal strategy options from a value generating perspective, which is also missing in current research...