Ross Levine is Professor of Economic Analysis and Policy at Berkeley Hass. He write in this article that in a time of increased competition and pressures from the pandemic, it might be a simple assumption that firms might reduce their focus on Corporate Social Responsibility. Recent analysis however shows that companies are using Corporate Social Responsibility as a profitable strategy to build loyalty and trust. The paper (Competition Laws, Ownership and Corporate Social Responsibility by Ding, Levine, Lin, Xie 2020) is based on research analysing 14,000 firms across 47 countries between 2002 and 2015. The findings established that higher levels of competition boosts corporate social responsibility. The results were consistent across various firms, industries and countries. “Our empirical findings are inconsistent with the traditional view that competition induces firms to focus on short-term survival and therefore forgo investments that pay off in the long run,” Ross Levine One theory for
As the world faces the significant economic disruption that has followed the pandemic, organisations have a chance to create an opportunity out of the crisis by transitioning older workers to new work models There is significant need for smart, agile new startups to be launched by older entrepreneurs, for more than 20 years the majority of US startups were launched by people 45 or older. As businesses cut back and restructure their workforces, old workers are going to need to prepare for a different employment landscape. Older workers are often first to be cut, they are on higher salaries than their younger peers and some may not have some of the newer skills currently in demand. Older employees however are usually the ones with the knowledge and experience as well as the deepest personal networks not just within the organisation but more broadly across the industry and markets they serve.