Philanthropy in the business world

Due in part to the recession and a decline in general standards of living, people are much more cynical about big business than they used to be, and it can be hard for business owners to explain how what they do helps wider society. One answer to this is philanthropy, through which business people can show directly that accumulating profits isn’t necessarily about greed—that money like this can be used to benefit others. Philanthropic activity is a great way for business owners to boost their reputations, win loyal customers and give something back at the same time.

Engaging with customers

In today’s connected world, philanthropy can have a bigger effect on a business reputation than ever. Just as companies fear the speed with which boycotts and bad word of mouth can spread if they make a socially ill-considered move, they can celebrate the speed with which positive news travels if they are perceived as doing something good. This has led an increasing number of businesses to develop high profile partnerships with charities. Even before funds are donated, an arrangement like this can benefit both parties by assuring them of good PR and increased media visibility. A highly effective approach can be donation matching, where a company offers to donate an equal amount to that given by members of the public (which can be estimated based on past fundraising drives), thereby encouraging people more generally to get into the habit of giving to good causes.

Philanthropy and new markets

Philanthropy can also open doors into new markets.  It is no accident that tech companies have recently been investing heavily in countries like India, specifically with a view to supporting economic development and boosting literacy rates.  With Western markets now close to saturation point when it comes to mobile technologies, these countries offer a huge new marketplace, but potential customers need to have the disposable income to purchase with and the skills to be able to use those purchases. Once they have access to such technology, they benefit again, because it becomes much easier for them to start up or expand businesses of their own, bringing employment to their communities. Done right, this approach to business philanthropy means that everybody wins.

Philanthropy today

Among famous philanthropists, Bill Gates has recently been in the news for extending his work to help children from disease control into education, using peer evaluators to establish the most effective ways of teaching in challenging environments.

Warren Buffet’s son has taken up his father’s mission and pledged $24m to help combat rhino poaching.

Francesco Corallo has shown his support for a children’s charity in Guatemala, taking the opportunity to circulate an old court judgment, which says that, for a certain police department, it is forbidden to link Francesco Corallo to the Mafia—illustrating how philanthropy can be used to repair a damaged reputation.

Chuck Feeney, meanwhile, has funded impressive new research facilities at the University of Queensland, helping to drive forward the development of technology that will, in turn, help others.

314 Responses to Philanthropy in the business world
  1. Travel Agent Online
    April 22, 2018 | 9:17 pm

    I am really impressed with your writing skills as well as with the layout on your blog. Is this a paid theme or did you modify it yourself? Anyway keep up the excellent quality writing, it is rare to see a nice blog like this one today..

  2. Health and Fitness
    April 22, 2018 | 11:27 pm

    Just wanna state that this is extremely helpful, Thanks for taking your time to write this.

  3. what is smps
    April 23, 2018 | 2:16 am

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    this matter to be really something that I think I would never understand.
    It seems too complicated and extremely broad for me. I’m looking
    forward for your next post, I will try to get the hang of it!

  4. Hi there. I found your web site by way of Google even as looking for a related topic, your website got here up. It appears good. I have bookmarked it in my google bookmarks to come back then.

  5. fun88
    April 23, 2018 | 5:53 am

    Hiya, I’m really glad I’ve found this information. Today bloggers publish only about gossip and internet stuff and this is actually irritating. A good website with exciting content, this is what I need. Thank you for making this website, and I’ll be visiting again. Do you do newsletters by email?

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    April 23, 2018 | 6:14 am

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    April 23, 2018 | 8:29 am

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  8. fun88
    April 23, 2018 | 9:05 am

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  9. News
    April 23, 2018 | 9:18 am

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  10. Health and Fitness
    April 23, 2018 | 12:02 pm

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  11. rumus terbilang
    April 23, 2018 | 12:16 pm

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  12. Health and Fitness
    April 23, 2018 | 1:19 pm

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  13. Health and Fitness
    April 23, 2018 | 2:03 pm

    I have recently started a site, the info you offer on this website has helped me tremendously. Thanks for all of your time & work. “The more sand that has escaped from the hourglass of our life, the clearer we should see through it.” by Jean Paul.

  14. Health and Fitness
    April 23, 2018 | 2:44 pm

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Leave a Reply


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Trackback URL http://mynextbuck.com/philanthropy-in-the-business-world/trackback/

Philanthropy in the business world

Due in part to the recession and a decline in general standards of living, people are much more cynical about big business than they used to be, and it can be hard for business owners to explain how what they do helps wider society. One answer to this is philanthropy, through which business people can show directly that accumulating profits isn’t necessarily about greed—that money like this can be used to benefit others. Philanthropic activity is a great way for business owners to boost their reputations, win loyal customers and give something back at the same time.

Engaging with customers

In today’s connected world, philanthropy can have a bigger effect on a business reputation than ever. Just as companies fear the speed with which boycotts and bad word of mouth can spread if they make a socially ill-considered move, they can celebrate the speed with which positive news travels if they are perceived as doing something good. This has led an increasing number of businesses to develop high profile partnerships with charities. Even before funds are donated, an arrangement like this can benefit both parties by assuring them of good PR and increased media visibility. A highly effective approach can be donation matching, where a company offers to donate an equal amount to that given by members of the public (which can be estimated based on past fundraising drives), thereby encouraging people more generally to get into the habit of giving to good causes.

Philanthropy and new markets

Philanthropy can also open doors into new markets.  It is no accident that tech companies have recently been investing heavily in countries like India, specifically with a view to supporting economic development and boosting literacy rates.  With Western markets now close to saturation point when it comes to mobile technologies, these countries offer a huge new marketplace, but potential customers need to have the disposable income to purchase with and the skills to be able to use those purchases. Once they have access to such technology, they benefit again, because it becomes much easier for them to start up or expand businesses of their own, bringing employment to their communities. Done right, this approach to business philanthropy means that everybody wins.

Philanthropy today

Among famous philanthropists, Bill Gates has recently been in the news for extending his work to help children from disease control into education, using peer evaluators to establish the most effective ways of teaching in challenging environments.

Warren Buffet’s son has taken up his father’s mission and pledged $24m to help combat rhino poaching.

Francesco Corallo has shown his support for a children’s charity in Guatemala, taking the opportunity to circulate an old court judgment, which says that, for a certain police department, it is forbidden to link Francesco Corallo to the Mafia—illustrating how philanthropy can be used to repair a damaged reputation.

Chuck Feeney, meanwhile, has funded impressive new research facilities at the University of Queensland, helping to drive forward the development of technology that will, in turn, help others.

314 Responses to Philanthropy in the business world
  1. Travel Agent Online
    April 22, 2018 | 9:17 pm

    I am really impressed with your writing skills as well as with the layout on your blog. Is this a paid theme or did you modify it yourself? Anyway keep up the excellent quality writing, it is rare to see a nice blog like this one today..

  2. Health and Fitness
    April 22, 2018 | 11:27 pm

    Just wanna state that this is extremely helpful, Thanks for taking your time to write this.

  3. what is smps
    April 23, 2018 | 2:16 am

    You actually make it seem so easy with your presentation but I find
    this matter to be really something that I think I would never understand.
    It seems too complicated and extremely broad for me. I’m looking
    forward for your next post, I will try to get the hang of it!

  4. Hi there. I found your web site by way of Google even as looking for a related topic, your website got here up. It appears good. I have bookmarked it in my google bookmarks to come back then.

  5. fun88
    April 23, 2018 | 5:53 am

    Hiya, I’m really glad I’ve found this information. Today bloggers publish only about gossip and internet stuff and this is actually irritating. A good website with exciting content, this is what I need. Thank you for making this website, and I’ll be visiting again. Do you do newsletters by email?

  6. rumus rumus excel
    April 23, 2018 | 6:14 am

    Awesome write-up. I am a regular visitor of your site and appreciate you taking the time to maintain the nice site. I’ll be a frequent visitor for a really long time.

  7. asianbookie
    April 23, 2018 | 8:29 am

    Awesome write-up. I’m a regular visitor of your site and appreciate you taking the time to maintain the excellent site. I will be a frequent visitor for a long time.

  8. fun88
    April 23, 2018 | 9:05 am

    Hello there. I found your blog by way of Google whilst looking for a similar subject, your site got here up. It looks great. I have bookmarked it in my google bookmarks to visit then.

  9. News
    April 23, 2018 | 9:18 am

    Good – I should definitely pronounce, impressed with your website. I had no trouble navigating through all tabs and related information ended up being truly easy to do to access. I recently found what I hoped for before you know it at all. Quite unusual. Is likely to appreciate it for those who add forums or anything, web site theme . a tones way for your customer to communicate. Nice task.

  10. Health and Fitness
    April 23, 2018 | 12:02 pm

    You have brought up a very superb details , appreciate it for the post.

  11. rumus terbilang
    April 23, 2018 | 12:16 pm

    Hey there. I found your blog by the use of Google whilst looking for a similar subject, your web site got here up. It appears to be good. I have bookmarked it in my google bookmarks to visit then.

  12. Health and Fitness
    April 23, 2018 | 1:19 pm

    Hello, i think that i saw you visited my web site thus i came to “return the favor”.I’m trying to find things to improve my website!I suppose its ok to use some of your ideas!!

  13. Health and Fitness
    April 23, 2018 | 2:03 pm

    I have recently started a site, the info you offer on this website has helped me tremendously. Thanks for all of your time & work. “The more sand that has escaped from the hourglass of our life, the clearer we should see through it.” by Jean Paul.

  14. Health and Fitness
    April 23, 2018 | 2:44 pm

    Some really quality articles on this web site , saved to bookmarks .

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