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 food to the ones in need to developing vaccines.

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The pandemic is sparking an era of 'smart generosity'

fastcompany.com

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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 of all types are helping researchers, suppliers and not only to help slow down the spread of the virus.

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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 might want to consider putting your employees first, stakeholders, customers, citizens and so on. And do not forget: through cooperation and kindness, we can actually stand a chance when confronted with such dangers.

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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 stakeholders come before the shareholders. It is worth mentioning that the central part in all this goes to the employees, as they are the ones ensuring the good functioning of the company.

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Leaders, employees, customers, shareholders, and citizens are looking to achieve new levels of success that is wider, deeper, and more sustaining.

This creates an uncommon opportunity for companies that don't operate by default - they don't continue in the tried-and-tested or dabble around the edges. With clarity and intention, companies can design their future.

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Companies need to design the future—not just react to it

fastcompany.com

For business to be part of the solution to our collective challenges, we leaders must see companies not as soulless moneymaking entities but as “human organizations” made of individuals working together in support of a shared goal. This goal must contribute to the common good by making a positive difference in people’s lives — what author and consultant Lisa Earle McLeod calls a “noble purpose.” In this approach, making money remains an imperative, but profits are not the ultimate objective; rather, they are the outcome of a successful strategy rooted in purpose.

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How to Lead in the Stakeholder Era

hbr.org

Organisations face 3 types of challenges during a pandemic:

  • Traditional Demand: The need to satisfy the same customer demand as before but with a modified approach. 
  • Emergent Demand: The need to satisfy a new customer demand that emerged from the pandemic
  • The time period of changes: Forecasting how long these changes will last, whether temporary changes are likely to disappear once the pandemic is over or sustained changes that will become a regular part of your organization’s operations going forward.

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Cases of Innovation in the COVID-19 Era

sloanreview.mit.edu

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