Social stewardship can help managers identify novel solutions amidst the COVID-19 crisis

While agency theory suggests that monetary rewards are a primary source of motivation for managers, stewardship theory suggests that in addition to monetary rewards, managers are motivated by higher order needs such as achievement, recognition from peers, and efforts towards enhancing the organisation as a collective. Niranjan Janardhanan writes that a stewardship-based culture encourages managers to understand the needs of stakeholders and enables them to identify novel solutions to thrive in turbulent times.