Corporate Philanthropy is Good for Business

What if corporate leaders thought more like Bill Gates, a leading philanthropist and founder of Microsoft, who once said, “As we look ahead into the next century, leaders will be those who empower others.” Ideally, innovative corporations would increasingly function beyond the short-term profit motive and pay greater attention to their impact on the social economy.

A key strategy for companies in this paradigm would be to put more focus on collaborating with the multitude of organizations working to improve communities to make a positive impact in the world. Benefits of Corporate Social Responsibility (CSR) Corporate giving can positively impact a range of social issues. Especially during trying economic times, the value of donating money, goods and services to charitable causes is generally expected as part of a company’s social obligations.

Corporate giving can be strategic while also being a valuable investment in the community. One major strategic benefit is an increase in brand awareness that can result in a competitive edge. According to the CSR Branding Survey 2010, 75 percent of those who have read about a company’s social responsibility agenda on its website say it made them more likely to purchase products or services from the company in the future. Consumers who take a positive view of a company’s social investment are more apt to make recommendations to friends and remain loyal customers.

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