The Responsibility Paradox

Abstract

As countries start to emerge from the pandemic with the development of vaccines, the impact of COVID-19 and the changes it has initiated in the business world will continue to be felt across industries. In this chapter, real-life stories from three different industries—chain restaurants, interior design, and cafés—and the lessons they have learned will be discussed and analyzed. The role of corporate social responsibility (CSR) in SMEs is highlighted as a strategy in which organizations can promote the long-term sustainability of their business. Then, three companies in various industries will be introduced with details about how COVID-19 has changed their outlook and goals in competing with other firms and the ways in which they confronted the pandemic. Finally, the authors share implications and offer helpful recommendations as to how SMEs can leverage resources smartly to engage in smart CSR initiatives in better dealing with a global health crisis and play a larger role in taking care of stakeholders in the long run.