Mavs’ Mark Cuban warns how companies respond to coronavirus will ‘define their brand’
Dallas Mavericks owner Mark Cuban is laser-focused on a special part of the current coronavirus (COVID-19) outbreak, which has taken the lives of thousands across the world and at home in the United States. Cuban preached how companies can “define their brands” during the pandemic.
“Not only is it a safety issue, it’s a business issue,” Cuban said on CNBC’s “Markets in Turmoil” special.
“How companies respond to that very question is going to define their brand for decades. If you rushed in and somebody got sick, you were that company. If you didn’t take care of your employees or stakeholders and put them first, you were that company,” he added.
The Mavs’ number one fan also talked about the timeline of when to expect that it’s safe to resume normal business operations.
“There’s no reason to rush this. I’d rather err on the side of caution. I’m not going to tell people to go to work when I’m uncertain,”
Sending employees back to work too quickly may be “unforgivable” in the eyes of younger Americans, too, Cuban said. “So not only is it smart to take care of your employees, but it’s also good business and that’s the way I’m looking at it.”
Cuban, who purchased the Mavs in 2000 as a then-burgeoning tech startup investor, previously purchased meals for medical responders to the public health crisis. A vocal celebrity along with wealthy owner of an NBA franchise, the “Shark Tank” co-host is also mindful of how the current coronavirus pandemic affects the public image of companies amid the current economic collapse, which has seen massive layoffs as businesses cannot afford maintaining operations.