The pandemic is sparking an era of 'smart generosity' - Deepstash

deepstash

Beta

deepstash

Beta

Deepstash brings you key ideas from the most inspiring articles like this one:

Read more efficiently

Save what inspires you

Remember anything

The pandemic is sparking an era of 'smart generosity'

https://www.fastcompany.com/90496736/the-covid-19-pandemic-is-sparking-an-era-of-smart-generosity

fastcompany.com

The pandemic is sparking an era of 'smart generosity'
During challenging times, companies with purpose are often better positioned to adapt and endure than peers without a purpose. Why? Purpose serves as a vision and lens for smart decision-making during both good times and bad. More than just a reason for existing, purpose can help leaders prioritize stakeholders, redirect resources, and more precisely respond during crises such as COVID-19.

4

Key Ideas

Save all ideas

Smart generosity concept applied inside the companies

Because of the current pandemic, companies have had to re-evaluate their purpose. This is to say that smart companies apply the smart generosity concept, according to which employees and stakeholde...

45 SAVES


VIEW

Companies' response to the pandemic

While facing the difficulties that the new virus is making companies all over the world fight against, there are several employers out there who seem to really know what they are doing. Companies o...

58 SAVES


VIEW

Cooperation in the time of Pandemic

Companies all over the world are currently collaborating with each other, NGO and governmental entities in order to hep improve the overall current situation. Their cooperation goes from providing ...

41 SAVES


VIEW

Re-evaluating the company's purpose

Once the new virus will have passed and we will all have safely returned to our lives, it might be useful to bear in mind what this situation has taught us. Especially if you own a company, you mig...

43 SAVES


VIEW

SIMILAR ARTICLES & IDEAS:

Larry Fink

“Without a sense of purpose, no company, either public or private, can achieve its full potential; it will ultimat..."

Larry Fink

Human Well-being 

As companies strive to become more meaningful, purpose-led, sustainable and connected to human well-being, they are seeing increasing value among stakeholders and customers.

A crucial Alliance

To make real progress, governments, civil society, companies, and charities must come together and form an alliance.

4 more ideas

How leaders cope with uncertainty

Uncertainty is always there. The degree of uncertainty can rise and fall.

Leaders, being human, also have difficulty coping with uncertainty. When they receive confusing information, they te...

Heuristics during periods of uncertainty

During periods of heightened uncertainty, leaders reflexively reduce investment, stop hiring, slash marketing, refrain from entering new markets, or stop making decisions.

Although understandable, acting in a pro-cyclical manner can be counterproductive. It can leave companies poorly positioned to benefit from the next stage of the cycle.

Attributes to succeed in uncertainty

Organizations should be inclined toward action. As a baseline, companies must strive to be fit for growth. This can be done by aligning costs with priorities and strategy, investing in varied capabilities, and using traditional and digital levers to execute.

They must regularly engage in scenario planning with an array of options. They must build the capacity to be agile. They must learn to become more resilient to withstand strong external forces and quickly recover from setbacks.