Companies that give to charities, or have direct philanthropy are far more prevalent than people think. It is important to understand that companies can benefit financially through donations and/ or philanthropy through expanding their company’s vision and name in the world. According to Forbes.com "Corporate 'philanthropy' is a really misnomer, because it benefits the company through a number of different ways," says Indiana University's Burlingame, who prefers "corporate citizenship." (Forbes.com) One of the best companies known for its philanthropy is Target, owned by Dayton Company, a founding member of the 5% club, which donates 5% of its earnings back to the community. The following companies are known for their donations around the world, Coca-Cola Fund: $1 million to the Red Cross, United Parcel Service Inc: $1 million in aid, half in cash and half in services, Lowe’s Cos Inc: Donating $1 million to the Red Cross, Google Inc: Donating $1 million, Bank of America Corp: $1 million, Abbott Laboratories: $1 million in humanitarian aid, including donations of medicines and nutritional products. (http://www.businesspundit.com). It is easy to see why companies would donate to charities, because of the social implications that go with it. If a company looks bad to the public for something they have done, then they will sometimes make donations to that group to show the public that they do care. It is important to make a good public image to the world, and maintain a high level of integrity. I hate to think of charity as buying something, but for some companies it is. On the other hand you have companies like TOM Shoes that make it a part of their business model to donate to charity. These companies perform at the highest level of charity in my opinion. Who goes into business to give parts of their profits away? Good ones.
No comments:
Post a Comment