Virtuous responses to organizational crisis: Aaron Feuerstein and Milt Cole

Abstract

This study examines two recent cases of ethical responses to crisis management; the 1995 fire at Malden Mills and Aaron Feuerstein's response, and a 1998 fire at Cole Hardwoods, followed by the response of CEO Milt Cole. The authors describe these crises, the responses of Feuerstein and Cole, their motivations and the impact on crisis stakeholders using the principles of virtue ethics and effective crisis management. What emerges is set of post-crisis virtues grounded in values of corporate social responsibility and entrepreneurial ethics. These include virtues of immediacy of response, supportiveness of victims, and rebuilding and renewal.