The coronavirus pandemic has triggered unprecedented mass layoffs and furloughs, ranging from retail stores to restaurant chains to oil giants to financial services, and resulting in 10.7 unemployed Americans. In response to dramatic revenue losses, cost-cutting measures may be necessary for immediate survival. However, crises also present opportunities for growth, innovation and practicing kindness and compassion that can propel businesses during downturns and position them for a quick recovery.
Adam Smith’s Theory of Moral Sentiments reminds us that prudence and justice are needed for society to survive, and the beneficent actions enable it to flourish. Leaders can survive the challenges of a crisis
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