Best Buy CEO Hubert Joly struck a note of optimism on this website earlier this year, crediting a number of companies for moving early to address the challenges of the Covid-19 pandemic and calling on others to “lead with purpose and humanity.” The compassionate response of the business community was indeed impressive at a critical moment of crisis. But, as time has passed, people are calling for more than just random acts of humanitarianism. They want a sustained, thoughtful, and authentic response on the part of business, one that can deliver broader, long-term impact.
Companies Must Go Beyond Random Acts of Humanitarianism
Any organization can write a check or mobilize resources when confronted with a crisis such as the Covid-19 pandemic or a social movement such as Black Lives Matter. But corporate crisis response becomes much more meaningful when stakeholders know that the organization has been applying itself in similar ways and as part of its primary business over time for society’s benefit, and that it will continue to do so far into the future. Put simply, a well-defined organizational purpose should drive any actions you take. For example, PayPal has declared that it wants to democratize financial services and it was one of the first non-banks to offer Paycheck Protection Program loans. Mahindra Group, the Indian conglomerate, has a single-word purpose: “Rise.” It has devised many different ways to provide aid during the pandemic, from offering its resorts as healthcare facilities to using its IT infrastructure to monitor virus outbreaks.