This article studies the concept of shareowner action strategy, pointing out that many investors use it as a weapon of last resort in trying to push the companies they are invested in to effect desired changes. Shareholder activity is usually seen as a tool for corporate transparency and democracy, and should therefore be viewed within the context of socially responsible investment (SRI). This paper explores the trend towards shareowner activism and questions whether it is effective or not. To do this, the paper clarifies the meaning of “shareowner action strategy” and also reviews the existing literature around the topic. There is also an examination of some conceptual models in the field of shareowner activism, and a review of a couple of cases from Ford Motor Company, Toyota, and ExxonMobil, to understand the response of corporations to this new trend. The case studies show that it is advisable to collaborate with, rather than fight against, shareholders – after all both management and shareholders want the company to do well and dialogue can clarify differences. The study also points out some corollaries and consequences of our findings before drawing the conclusion and suggesting grounds for further research.