Corporate Social Responsibility Informing Crisis Management for Stakeholder Satisfaction: From Survival Mode to Survivability in a Pandemic

Abstract

The second quarter of 2020 is ending, and the covid-19 pandemic is ongoing. The intricacies of this crisis are unprecedented; yet, it would be challenging to find a time in history when the human race has not been confronted with crisis and catastrophic consequences. Most individuals and organizations, surviving a crisis, are infused with collateral effects of trauma, but survive. The question is why are organizations ceasing to exist, or unable to transition to survivability? It is plausible that a different approach to crisis management is needed to face the current challenges. The general objective of this study is to analyze the implications of engaging in corporate social responsibility to inform crisis management and maintain stakeholder satisfaction. A conceptual model is discussed to describe how effective socially responsible crisis management enables firms to transition from survival mode to survivability.