Strategic Philanthropy: Things You Should Know

  • 22nd Jul'20
  • 260
  • 16
  • 0

With expanded worldwide rivalry and decreasing benefits owing to the current monetary atmosphere, organizations have less cash to provide for causes and non-profits. Increasingly more as often as possible, enterprises need to dismiss most of the donation requests and be progressively cautious in their way to deal with charitable or humanitarian giving. Nonetheless, strategic philanthropy takes into consideration an organization. However to have a desire for a positive return. How is this conceivable? 

 

What is Strategic Philanthropy?

 

Strategic philanthropy or Corporate philanthropy is the act of organizations by which they focus on their individual charitable and generous exercises around a particular issue or cause that will thus bolster their own business destinations. It is a powerful way to combine the company's marketing goals with the desire to increase the well-being of mankind.

Thus, while doing strategic philanthropy  a company connects itself with a not-for-profit organization or cause. In this way, while being helpful and working for the common good in the community, the business can also receive parallel benefits. These benefits include brand exposure, lead generation, and employee retention. 

To know more about strategic philanthropy, read the following articles:

https://hbr.org/2002/12/the-competitive-advantage-of-corporate-philanthropy

https://cep.org/predicament-strategic-philanthropy/

 

Benefits of Strategic Philanthropy

 

The most well-known advantage related to strategic or corporate philanthropy is, obviously, introduction. When you start the coordinated effort with the non-benefit association, it will open up to the world. Along these lines, more individuals will find out about it, your reputation will improve, and your odds of achievement will altogether increment. 

Check out these blogs on a detailed description of the benefits of Strategic Philanthropy.

https://www.givinga.com/corporate-philanthropy-benefits/

http://georgiatoday.ge/news/16425/Strategic-Philanthropy:-Social-Impact-&-Company-Benefits

https://www.allbusiness.com/strategic-philanthropy-1279-1.html

The most effective method to be a part of Corporate Philanthropy 

 

Start with a smaller association 

Locate a charitable association where even the smallest donations matter. Along these lines, you can stand out towards them and assist them with procuring more assets. Additionally, you can pick a foundation that is totally new and help it develop. 

Pick an organization in your field of activity 

You have more odds of achievement on the off chance that you pick something you definitely realize how to do. Along these lines, it will be simpler for you to enable the association to get the subsidizing it needs. Additionally, you can get your own advantages without a lot of exertion. 

Make an equivalent organization 

Strategic philanthropy is about a common joint effort between two associations where none is better than the other. On the off chance that the foundation is the one that gets donations, it doesn't mean you are above it. 

 

To proceed further with the strategies involved in Corporate Philantrophy, OpenGrowth provides these links of some relatable blogs which you must look at!

https://companyweek.com/article/seven-steps-towards-strategic-corporate-philanthropy

https://www.digitaltonto.com/2012/why-its-better-to-have-a-strategic-philosophy-than-an-ideology/

https://search.proquest.com/openview/26d2601a0a0e89dd2dd9ec03b0ecd2f8

http://www.charitycafe.com/guest-articles/strategic-philanthropy.html

 

Top Corporate Philanthropy Models

 

To assist you with building your philanthropic system, we've assembled these articles on top corporate philanthropy models for motivation. Every model uses a special strategy to draw in workers and increment sway on the nearby, national, or global network.

 

Take a look at these blogs to know the top Corporate Philanthropy Model to make your organization one of them.

https://hbr.org/1994/05/the-new-corporate-philanthropy

https://www.givinga.com/5-corporate-philanthropy-examples-inspire-csr-strategy/

https://www.triplepundit.com/story/2015/5-companies-doing-corporate-philanthropy-right/36501

https://nonprofithub.org/fundraising/5-types-corporate-philanthropy-nonprofits-thinking/

 

We, at OpenGrowth, are continually looking for trending startups in the ecosystem. This was a blog on the emerging scenario of Strategic Philanthropy, the benefits of Strategic Philanthropy, and the top Corporate Philanthropy.

If you want to know any further information about the startup ecosystem or have any mind-boggling ideas, do refer to the other blogs at OpenGrowth. If you have any suggestions, do let us know in the comment section below. 

 

About the Author: Sudeshna Dutta

She is an engineer in making. Apart from dealing with circuits and chips, she is passionate about playing keyboard and wants to attain professionalism in it with her talent coupled with hard work. She prefers the music of all tastes and genres.

 

Sources/References:

*Note: The content published above was made in collaboration with our members.

About the author:

Editor , OpenGrowth Content Team

The Editorial Team at OpenGrowth is working to provide you with the perfect place to know everything about startups. Feel free to connect to us.


Post Your Comment

You may also like