With stock markets tanking, revenues falling off a cliff, and sheer terror at the prospect of what’s around the corner in the coronavirus pandemic, it’s easy for brands to slide into panic mode. When business as usual is impossible, it’s actually the perfect time for leaders to ask: What might business with purpose accomplish? The authors provide four steps for reactivating your brand purpose: taking a meaningful pause to refocus; overcoming purpose inertia; making your purpose forward-focused; and deciding where and how to act.
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The coronavirus pandemic has brought the global economy to its knees in a matter of weeks. With stock markets tanking, revenues falling off a cliff, and sheer terror at the prospect of what’s around the corner, it’s easy for brands to slide into panic mode: frozen with inaction, or pursuing frantic measures of self-preservation.