Firms are increasingly expected to engage in corporate social responsibility (CSR) in reaction to external crises. Yet, we still know little about how they do it. This study discusses what we can learn from how large global firms responded to the COVID-19 pandemic. Employing a cluster analysis on Fortune Global 500 firms, our findings reveal that to meet both institutional and economic pressures posed by the crisis, global firms adopted what we call a synergistic multi-stakeholder approach by addressing the needs of multiple stakeholder groups simultaneously through transferable response strategies. These strategies varied by firm, ranging from donations and educational initiatives to collaboration and minimal support. We discuss the characteristics and potential drivers of each strategy. Our findings suggest that synergistic CSR strategies combine (social) value creation with operational efficiencies across stakeholder groups, with critical implications for how firms may respond to future disasters and crises.
The literature has called on business and management scholars to help understand the global challenges we face and to find solutions. The prevailing narratives that have implicitly informed our understanding of business and management knowledge and practice as good need to be reimagined. We question whether our existing theoretical lenses, along with fundamental underlying assumptions about what constitutes labour, value and its creation, and the nature of assets, liabilities and materiality, act as a barrier to advancing business and management practice as a force for good and explore whether we need to go beyond applying existing theory to new research questions. Both Agency Theory and Stakeholder Theory have proven ineffective in aligning social and economic interests, while our disciplinary and publishing customs constrain our imagination and impede conceptions of fundamentally new ways of practising business. We explore why we need to reimagine business and management; what we mean by reimagining business and management and what it means to be a force for good. We conclude that if the purpose of business needs to be reimagined, business schools will also need to change to be major catalysts in this process.
This paper explores ‘good work’ as purpose-driven organizing for positive social impact in the case of alternative food initiatives (AFIs). AFIs accommodate alternative ways of food production and consumption that tackle the world's pressing sustainability challenges. Considering the centrality of workers’ motives, beliefs for generating/sustaining alternative and spiritual work/organizational contexts, this study bridges the knowledge on AFIs and workplace spirituality (WS) through the individual-level perspective. The paper explores AFI members’ workplace motives and experiences to understand how these individuals make sense of their work, and to draw insights on what ‘good work’ entails in this organizational realm. Data were collected via a two-phase study from a total of 28 members of organizations based in Glasgow, Scotland. The results show that AFI members’ work drivers include spiritual (as other-regarding) motives and that the perceived value of their work is in contributing to the welfare of others through a workspace of belonging, freedom and care. The findings suggest that a WS perspective can help in understanding how AFI members approach their work to create (greater) good. Drawing on the lessons from the case analysis within the AFI context, this paper highlights the relevance of WS for repurposing work and organizing.