The Strategy of Social Giving

In our modern marketplace, many corporations are turning to corporate philanthropy to increase corporate social responsibility, attract top talent and increase their loyal customer base.  Although philanthropy is a critical and age-old tradition, it can also be a confusing practice.  It’s no surprise that entrepreneurs can turn to the professionals at Corporate Business Solutions for help in establishing corporate giving. 

Adding charitable work is very valuable if done properly. If you are a business owner who is considering  integrating philanthropy into your business, it is crucial that you understand the potential negative side effects of doing so without a strategy. 

1. Budding social butterflies – Often, a company's leadership ends up becoming overly focused on the social side of philanthropy and consequently can lose track of the business platform.
2. Direct donations can hinder company goals – Charity through pure monetary donations can make it difficult for a business to actually reach its goal of change. A donation to a nonprofit agency may put control of the funds beyond the reach of the business. There is no guarantee that the agency will improve the community or offer any of the benefits that the business can gain from philanthropy.
3. Time, cost and decisions - If a business decides to take a longer route and invest money in the community itself, then there are other disadvantages. The business must form a team and decide how much money to give and where it should be given to produce the most impact. Decisions affect not only the length of the project, but also any marketing that goes along with it. In the end, the company must be prepared to spend time, money and human resources on a project.

To learn more and / or to schedule your complimentary appointment with the business experts at Corporate Business Solutions, call us at 877-357-9366.