Corporate responses to the COVID-19 pandemic by Fortune 500 companies.

ABSTRACT

COVID-19 created a challenging environment both for businesses and individuals. Effects of the pandemic on companies had the potential to create negative public relations as entities attempted to deal with the worldwide crisis and to communicate their situation. Many companies were quick to provide information to customers and employees early in the pandemic about how they were responding to the crisis, while other companies provided limited immediate response to COVID-19. An examination of the top 300 companies listed in the 2020 Fortune 500 found that 186 of those companies communicated their status and plans in press releases posted from January 2020 through May 2020 regarding the COVID-19 pandemic. This study, based on Situational Crisis Communication Theory, qualitatively analyzed the releases via constant comparative method. The analysis resulted in four primary categories that dominated company releases (1) In This Together, (2) Perseverance Through Strength, (3) We are Here for You, and (4) Fighting for the Team.