We show how the availability function as defined from the entropy function concavity can be used for the stability analysis and derivation of control strategies for nonisothermal Continuous Stirred Tank Reactors (CSTRs). We first propose an overview of the required thermodynamic concepts. Then, we show how the availability function restricted to the thermal domain can be used as a Lyapunov function. The derivation of the control law and the way the strict entropy concavity is insured are discussed. Numerical simulations illustrate the application of the theory to the open loop stability analysis and the closed loop control of liquid-phase non-isothermal CSTRs. The proposed approach is compared with the classical proportional control strategy. Two chemical reactions are studied: the acid-catalyzed hydration of 2-3-epoxy-1-propanol to glycerol subject to steady state multiplicity and the production of cyclopentenol from cyclopentadiene by acid-catalyzed electrophilic addition of water in dilute solution exhibiting a non-minimum phase behavior.