IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v12y2020i16p6657-d400303.html
   My bibliography  Save this article

Covid-19 and the Search for the Common Good: The Case of Parmon Spa (Italy)

Author

Listed:
  • Giovanna Centorrino

    (Department of Economics, University of Messina, ME 98122 Messina, Italy)

Abstract

The Covid-19 pandemic marks an extraordinary global crisis unseen in this last century, with its rapid spread worldwide and associated mortality burden, which is leading to profound economic consequences. In such an unprecedented scenario, most firms were not ready to deal with the resulting significant large-scale perturbations. Challenges for firms in the sector of the production of essential medical devices were among the most urgent. This study aims to investigate the behavior of a medium-size Italian enterprise that during this crisis, by converting part of its production line to the production of masks, undertook a path characterized by an ethics mindset, showing how its potentialities can also be used for the aim of common good. The case study is also presented to demonstrate that leadership ethical values and constant connection to the entrepreneurial ecosystem, maintaining a positive culture therein, have contributed toward a common good choice.

Suggested Citation

  • Giovanna Centorrino, 2020. "Covid-19 and the Search for the Common Good: The Case of Parmon Spa (Italy)," Sustainability, MDPI, vol. 12(16), pages 1-23, August.
  • Handle: RePEc:gam:jsusta:v:12:y:2020:i:16:p:6657-:d:400303
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/12/16/6657/pdf
    Download Restriction: no

    File URL: https://www.mdpi.com/2071-1050/12/16/6657/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Myeongju Lee & Hyunok Kim, 2017. "Exploring the Organizational Culture’s Moderating Role of Effects of Corporate Social Responsibility (CSR) on Firm Performance: Focused on Corporate Contributions in Korea," Sustainability, MDPI, vol. 9(10), pages 1-18, October.
    2. Mara Baldo, 2017. "Authenticity: Is Corporate Social Responsibility the Key to Overcoming Crisis?," CSR, Sustainability, Ethics & Governance, in: Samuel O. Idowu & Stephen Vertigans & Adriana Schiopoiu Burlea (ed.), Corporate Social Responsibility in Times of Crisis, pages 35-58, Springer.
    3. Ricardo F. Crespo, 2016. "The common good and economics," Cuadernos de Economía - Spanish Journal of Economics and Finance, Asociación Cuadernos de Economía, vol. 39(109), pages 23-33, Enero.
    4. Pesci, Caterina & Costa, Ericka & Andreaus, Michele, 2020. "Using accountability to shape the common good," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 67.
    5. Robert J. Barro, 2006. "Rare Disasters and Asset Markets in the Twentieth Century," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 121(3), pages 823-866.
    6. Walter Leal Filho & Luciana Londero Brandli & Amanda Lange Salvia & Lez Rayman-Bacchus & Johannes Platje, 2020. "COVID-19 and the UN Sustainable Development Goals: Threat to Solidarity or an Opportunity?," Sustainability, MDPI, vol. 12(13), pages 1-14, July.
    7. Surendra Arjoon & Alvaro Turriago-Hoyos & Ulf Thoene, 2018. "Virtuousness and the Common Good as a Conceptual Framework for Harmonizing the Goals of the Individual, Organizations, and the Economy," Journal of Business Ethics, Springer, vol. 147(1), pages 143-163, January.
    8. Frémeaux, Sandrine & Puyou, François-Régis & Michelson, Grant, 2020. "Beyond accountants as technocrats: A common good perspective," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 67.
    9. Carroll, Archie B., 1991. "The pyramid of corporate social responsibility: Toward the moral management of organizational stakeholders," Business Horizons, Elsevier, vol. 34(4), pages 39-48.
    10. Arno J. van Niekerk, 2020. "Inclusive Economic Sustainability: SDGs and Global Inequality," Sustainability, MDPI, vol. 12(13), pages 1-19, July.
    11. He, Hongwei & Harris, Lloyd, 2020. "The impact of Covid-19 pandemic on corporate social responsibility and marketing philosophy," Journal of Business Research, Elsevier, vol. 116(C), pages 176-182.
    12. Byung-Jik Kim & Mohammad Nurunnabi & Tae-Hyun Kim & Taejoong Kim, 2018. "Doing Good Is Not Enough, You Should Have Been Authentic: Organizational Identification, Authentic Leadership and CSR," Sustainability, MDPI, vol. 10(6), pages 1-16, June.
    13. Jeremy Moon, 2007. "The contribution of corporate social responsibility to sustainable development," Sustainable Development, John Wiley & Sons, Ltd., vol. 15(5), pages 296-306.
    14. Xavier Gabaix, 2012. "Variable Rare Disasters: An Exactly Solved Framework for Ten Puzzles in Macro-Finance," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 127(2), pages 645-700.
    15. Kaushal Mukherjee, 2016. "The Psychology of the Successful Entrepreneur," Post-Print hal-01484491, HAL.
    16. Nicholas A. Ashford & Ralph P. Hall & Johan Arango-Quiroga & Kyriakos A. Metaxas & Amy L. Showalter, 2020. "Addressing Inequality: The First Step Beyond COVID-19 and Towards Sustainability," Sustainability, MDPI, vol. 12(13), pages 1-43, July.
    17. Camelia-Daniela Hategan & Nicoleta Sirghi & Ruxandra-Ioana Curea-Pitorac & Vasile-Petru Hategan, 2018. "Doing Well or Doing Good: The Relationship between Corporate Social Responsibility and Profit in Romanian Companies," Sustainability, MDPI, vol. 10(4), pages 1-23, April.
    18. Alexander W. Bartik & Marianne Bertrand & Zoë B. Cullen & Edward L. Glaeser & Michael Luca & Christopher T. Stanton, 2020. "How Are Small Businesses Adjusting to COVID-19? Early Evidence from a Survey," NBER Working Papers 26989, National Bureau of Economic Research, Inc.
    19. Mauricio Andrés Latapí Agudelo & Lára Jóhannsdóttir & Brynhildur Davídsdóttir, 2019. "A literature review of the history and evolution of corporate social responsibility," International Journal of Corporate Social Responsibility, Springer, vol. 4(1), pages 1-23, December.
    20. Yaeri Kim & Seojin Stacey Lee & Taewoo Roh, 2020. "Taking Another Look at Airline CSR: How Required CSR and Desired CSR Affect Customer Loyalty in the Airline Industry," Sustainability, MDPI, vol. 12(10), pages 1-19, May.
    21. De Massis, Alfredo & Kotlar, Josip, 2014. "The case study method in family business research: Guidelines for qualitative scholarship," Journal of Family Business Strategy, Elsevier, vol. 5(1), pages 15-29.
    22. Andy Lockett & Jeremy Moon & Wayne Visser, 2006. "Corporate Social Responsibility in Management Research: Focus, Nature, Salience and Sources of Influence," Journal of Management Studies, Wiley Blackwell, vol. 43(1), pages 115-136, January.
    23. Mara Del Baldo, 2019. "Acting as a benefit corporation and a B Corp to responsibly pursue private and public benefits. The case of Paradisi Srl (Italy)," International Journal of Corporate Social Responsibility, Springer, vol. 4(1), pages 1-18, December.
    24. Hartman, Edwin M., 2008. "Reconciliation in Business Ethics: Some Advice from Aristotle," Business Ethics Quarterly, Cambridge University Press, vol. 18(2), pages 253-265, April.
    25. M Mukherjee, 2017. "Entrepreneurial Judgment and Analysis for Successful Strategy Implementation," Post-Print hal-01484499, HAL.
    26. Jennifer Grafton & Anne M. Lillis & Habib Mahama, 2011. "Mixed methods research in accounting," Qualitative Research in Accounting & Management, Emerald Group Publishing Limited, vol. 8(1), pages 5-21, April.
    27. Maćkowiak, Bartosz & Wiederholt, Mirko, 2018. "Lack of preparation for rare events," Journal of Monetary Economics, Elsevier, vol. 100(C), pages 35-47.
    28. Domènec Melé, 2009. "Integrating Personalism into Virtue-Based Business Ethics: The Personalist and the Common Good Principles," Journal of Business Ethics, Springer, vol. 88(1), pages 227-244, August.
    29. Momin Mukherjee, 2017. "Entrepreneurial Judgment and Analysis for Successful Strategy Implementation," Post-Print hal-01592484, HAL.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Titik Setyaningsih & Indra Bastian & Choirunnisa Arifa & Fuad Rakhman, 2023. "Pandemic Leadership: Is It Just a Matter of Good and Bad?," Public Organization Review, Springer, vol. 23(2), pages 605-621, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Muddassar Sarfraz & Wang Qun & Li Hui & Muhammad Ibrahim Abdullah, 2018. "Environmental Risk Management Strategies and the Moderating Role of Corporate Social Responsibility in Project Financing Decisions," Sustainability, MDPI, vol. 10(8), pages 1-17, August.
    2. Alessandro Cantelmo, 2022. "Rare Disasters, the Natural Interest Rate and Monetary Policy," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 84(3), pages 473-496, June.
    3. Momin Mukherjee, 2017. "Innovation and System Design," Post-Print hal-01592487, HAL.
    4. Sandrine Frémeaux & Anouk Grevin & Roberta Sferrazzo, 2023. "Developing a Culture of Solidarity Through a Three-Step Virtuous Process: Lessons from Common Good-Oriented Organizations," Journal of Business Ethics, Springer, vol. 188(1), pages 89-105, November.
    5. M M Mukherjee, 2017. "Innovation and System Design," Post-Print hal-01484512, HAL.
    6. Siddiqi, Hammad, 2015. "Anchoring and Adjustment Heuristic: A Unified Explanation for Equity Puzzles," MPRA Paper 68729, University Library of Munich, Germany.
    7. Marlène Isoré, 2012. "Essays in macro-finance [Essais de macro-finance]," SciencePo Working papers Main tel-03669376, HAL.
    8. Sang Byung Seo & Jessica A. Wachter, 2019. "Option Prices in a Model with Stochastic Disaster Risk," Management Science, INFORMS, vol. 65(8), pages 3449-3469, August.
    9. William Ginn, 2022. "Climate Disasters and the Macroeconomy: Does State-Dependence Matter? Evidence for the US," Economics of Disasters and Climate Change, Springer, vol. 6(1), pages 141-161, March.
    10. Allan Wright & Patrice Borda, 2016. "Macroeconomic Fluctuations Under Natural Disaster Shocks in Central America and the Caribbean," IDB Publications (Working Papers) 97076, Inter-American Development Bank.
    11. Juelin Yin & Yuli Zhang, 2012. "Institutional Dynamics and Corporate Social Responsibility (CSR) in an Emerging Country Context: Evidence from China," Journal of Business Ethics, Springer, vol. 111(2), pages 301-316, December.
    12. Asif Khan & Chih-Cheng Chen & Kwanrat Suanpong & Athapol Ruangkanjanases & Santhaya Kittikowit & Shih-Chih Chen, 2021. "The Impact of CSR on Sustainable Innovation Ambidexterity: The Mediating Role of Sustainable Supply Chain Management and Second-Order Social Capital," Sustainability, MDPI, vol. 13(21), pages 1-25, November.
    13. repec:hal:wpspec:info:hdl:2441/eo6779thqgm5r489m363974qg is not listed on IDEAS
    14. Beeler, Jason & Campbell, John Y., 2012. "The Long-Run Risks Model and Aggregate Asset Prices: An Empirical Assessment," Critical Finance Review, now publishers, vol. 1(1), pages 141-182, January.
    15. Xu Cheng & Winston Wei Dou & Zhipeng Liao, 2022. "Macro‐Finance Decoupling: Robust Evaluations of Macro Asset Pricing Models," Econometrica, Econometric Society, vol. 90(2), pages 685-713, March.
    16. Hasler, Michael & Marfè, Roberto, 2016. "Disaster recovery and the term structure of dividend strips," Journal of Financial Economics, Elsevier, vol. 122(1), pages 116-134.
    17. Koulovatianos, Christos & Li, Jian & Weber, Fabienne, 2018. "Market fragility and the paradox of the recent stock-bond dissonance," Economics Letters, Elsevier, vol. 162(C), pages 162-166.
    18. Aizenman, Joshua & Noy, Ilan, 2015. "Saving and the long shadow of macroeconomic shocks," Journal of Macroeconomics, Elsevier, vol. 46(C), pages 147-159.
    19. Marlène Isoré & Urszula Szczerbowicz, 2013. "Disaster Risk in a New Keynesian Model," Working Papers 2013-12, CEPII research center.
    20. Polyzos, Stathis & Samitas, Aristeidis & Kampouris, Ilias, 2021. "Economic stimulus through bank regulation: Government responses to the COVID-19 crisis," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 75(C).
    21. Pedro Bordalo & Nicola Gennaioli & Andrei Shleifer, 2022. "Overreaction and Diagnostic Expectations in Macroeconomics," Journal of Economic Perspectives, American Economic Association, vol. 36(3), pages 223-244, Summer.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:12:y:2020:i:16:p:6657-:d:400303. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.