Here is an Op-Ed we have published in the British daily CITY A.M. on how some–altrusitically-minded– companies act during the COVID-19 crisis.
Coronavirus: Businesses must seize the chance to be altruistic
Isaac Getz and Laurent Marbacher
We recently interviewed the Manufacturing Director of a large company who told us that in response to the COVID-19 pandemic he had gathered all his suppliers and told them frankly: “We’ll face this together. We share everything.”
This leader could easily have placed the entire burden of plummeting demand on the shoulders of suppliers by drastically lowering orders. Many companies are doing this globally. Instead he chose to share the load, by lowering external orders and his own production equally – something those suppliers will not forget.
At this time of unprecedented turbulence, the instinct for businesses may be to preserve their own interests, cutting off suppliers and cancelling purchasing contracts – however this won’t help them once the crisis is over.
Read the full article here