Companies will not survive Covid-19 unless they communicate with their stakeholders. As the world around them transforms, corporate leaders must welcome input from those on the front lines of corporate activity – primarily employees and consumers, but also local communities, NGOs, academic experts, and even government authorities and regulators. And they must put in place the corporate infrastructure necessary to cast a wide net and gather and analyze this information.
In moments of crisis, the self-preservation instincts of a corporate executive call for reducing costs and conserving resources with large-scale wage cuts, layoffs, and shutdowns. Such measures are necessary, it … Read more