Strategic Philanthropy

Strategic philanthropy is an approach by which corporate or business giving and other philanthropic endeavors of a firm are designed in such a way that it best fits with the firm’s overall mission, goals, and values. This implies that the business has a carefully articulated strategy and that it understands how to integrate its philanthropic initiatives with this strategy in actual practice. A major characteristic of strategic philanthropy is that the motivation is not solely altruistic. Strategic philanthropy is intended to help both the company and the society, so it is a vital topic in the business and society relationship. To understand how strategic philanthropy has become an everyday practice, it is useful to trace this concept as it has unfolded in business history. Cause-related ...