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Why corporations do and do not engage in corporate philanthropy?

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Philanthropy (n.) – “Goodwill to fellow members of the human race; especially an active effort to promote human welfare.” (Merriam-Webster)

Written above is the standard definition of philanthropy; essentially an act of charity. So what is the difference between an act of philanthropy when done by an individual versus a corporation? In short, there is no difference.

Corporate Philanthropy is the act of a corporation or business promoting the welfare of others, generally via charitable donations of funds or time.

With corporations donating more than $17 billion per year to nonprofit organizations and charities (Links to an external site.)Links to an external site., corporate philanthropy has become a hot button topic. https://doublethedonation.com/tips/matching-grant-resources/matching-gift-statistics/

 

For the week 2 Reflection/Application memo please discuss why corporations do and do not engage in corporate philanthropy. Please share some of your research.

PS - FOLLOWING IS A LIST OF THE 10 MOST COMMON FORMS OF CORPORATE PHILANTHROPY:

  1. Matching gifts
  2. Fundraising matches
  3. Dollars for doers
  4. Team volunteer grants
  5. Community grants
  6. Volunteer support programs
  7. Automatic payroll deductions
  8. No strings attached annual grant stipends
  9. Internal employee fundraising campaigns
  10. Annual giving

And following is a link to the article '10 Companies Doing Corporate Philanthropy Right': https://doublethedonation.com/tips/corporate-philanthropy-examples-10-leaders/ (Links to an external site.)Links to an external site.

What I am looking for in your reaction/application ‘memos’

First, I am looking a summary of something you have read and/or watched. This is to help you to clarify what you read and/or watched and to enable me, as your instructor, to determine whether you have understood it.

Second, because a summary is limited to presenting others' ideas, I have included a reaction element to the assignment, to find out what your opinion is. The reaction element of the memo usually comes after you have stated the author's main ideas and main supporting evidence by stating your own responses to those ideas and supporting them with your own evidence and thinking. I am looking for analysis and recommendations. One of my main goals for this assignment is to help you develop and hone your critical thinking and written communication skills.

  • General Guidelines for your Reaction / Application ‘memos’.
    Your memos should be printed on standard, white 8.5” x 11” paper.
    · Single-space the text of your paper, and use Times New Roman font. The font size should be 12 pt. 
    · Leave only one space after periods or other punctuation marks.
    · Double space between paragraphs.
    · The margins of your document should be 1” on all sides.
    · Your memo should be long enough to provide a ‘summary’ that enables me to determine whether or not you have a robust understanding of the material assigned as well as your critical analysis and recommendations. Typically below average is fewer than 2.5 pages, average is typically between 2.5 to 3.0 pages, and above average is typically greater than 3 pages in length. However, this is not a hard-set guideline. To reiterate, an average memo long enough to provide a ‘summary’ that enables me to determine whether or not you have understood the material assigned as well as your critical analysis and recommendations.

 

REQUIREMENTS

 major corporations  Philanthropy description 4 pages, Single Spacing

 

please incorporate some material from the attached chapter reading that relates to the topic. Thanks so much.

 

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[Solved] Why corporations do and do not engage in corporate philanthropy?

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Why Corporations Do and Do Not Engage In Corporate Philanthropy Name Institution Why Corporations Do and Do Not Engage In Corporate Philanthropy Introduction In the advent of globalization, local and multinational corporations have continuously adopted dynamic strategies in a bid to achieve the best competitive advantages over their counterparts. It is evident that organizations commit substantial amounts of money to activities such as corporate social responsibility and corporate philanthropy. Corporate philanthropy is an extension of corporate social responsibility and aims at improving the welfare of other humans through the provision of different types of charitable donations by a corporation (Steiner & Steiner, 2012). Corporate philanthropy by companies can be implemented through different programs, including matching gifts and volunteer grants. In the former, employees request their employers to match their donations to a nonprofit establishment while the latter, employees request their employers to contribute towards charity (Double the Donation, 2019). Different multinational corporations such as Apple, Exxon, Expedia, Google, Walmart, and PepsiCo among others have been exemplified as global leaders in corporate philanthropy. The commitment or failure to commit to corporate philanthropy is determined by various strategic factors which are unique or shared among the companies. While some local and multinational corporations such as Apple and Exxon devote substantial efforts and funds towards corporate philanthropy, others fail to or commit minimal efforts and funds to the courteous act. Some companies invest significant percentages of their revenues in corporate philanthropy while others hardly do. For instance, some American companies such as Costco and Lowes Home Improvement have been classified among the least philanthropic companies in the US (Ni, 2007). Therefore, companies do or fail to do corporate philanthropy due to different situational and strategic differences. This paper will critically and objectively evaluate the reasons for the difference through the examination of various companies. Why Corporations do Corporate Philanthropy The continuously changing global business environment as well as the need for corporate entities to create a positive image is among the primary justifications for the involvement of businesses in corporate philanthropy. Businesses in the world today operate in a field characterized by increasing competition from existing competitors as well as new entrants to the industries (Steiner & Steiner, 2012). As such, the management teams of the companies continuously strive to create and maintain strong competitive edges for their establishments. Corporate philanthropy has been continuously adopted by different companies as a way of achieving competitive advantages over its competitors. It is critical to highlight that the involvement of companies in corporate philanthropy boosts their efforts to create a good reputation among the different societies in which they operate. The reputation emanates from society's knowledge of the fact that the companies are concerned about their welfare. Involvement of companies in corporate philanthropy increases their publicity among the recipient communities (Porter & Kramer, 2002). However, it is important to highlight that a business commitment to corporate philanthropy must be carefully designed to ensure that it results in economic and social benefits simultaneously. Without such convergence of interests, corporate philanthropy would not boost a company’s competitiveness. Therefore, through corporate philanthropy, a company can effectively publicize its name as well as the different goods and services it offers. The customers are involuntarily informed about the presence of the company in the market, thus increasing its ability to leverage increased client base. The competitiveness is also boosted by the fact that the clients tend to become fonder of corporate philanthropic companies compared to those without corporate philanthropy. Therefore, investment by companies in corporate philanthropy is a potent driver for the competitiveness of the business. Howe...
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