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By Marc Chalufour Carol Cone has preached the value of social purpose for the better part of four decades. The name has changed innovative leadership position was an early jargon-heavy phrase but the concept has not: All stakeholders employees, consumers, shareholders and society benefit when a company focuses on more than profit, developing and promoting their reason for being in a way that benefits society. So, when the coronavirus pandemic upended virtually every sector of the economy, Cone (’78) wasn’t surprised to see that the companies with a well developed sense of purpose were quick to respond and adapt. Businesses with strong societal commitments knew best where resources were needed. AB InBev converted manufacturing plants to produce personal protective equipment (PPE) and hand sanitizer. New York Life moved to fund mental health resources for the families of essential works who died from COVID-19. And strong corporate cultures adapted best to the abrupt shift to work

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