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In this day and age, corporations are really able to do virtually anything and everything they could want. If they wish to open a new office or launch a new division, they are often able to do so. Why then, are so many companies turning to philanthropic measures? Let's take a look.

Public Pressure

Nowadays, brand loyalty can often mean nothing to customers. While you once would have picked one company and stayed with them for your entire life, this is not the case any longer. If a brand does something that is not approved of by many of their customers, there is a chance that they will leave and go to a competitor.

As a result, many corporations have turned to philanthropic pursuits. This is a great way for them to respond to the concerns of their customers while also acknowledging some of the major events and issues currently facing us worldwide. For example, many corporations are making a commitment to going carbon-neutral within their business dealings. While this will require an awful lot of work on their part, and might also involve some serious redirection within the business, it is a fantastic move that will satisfy old clients and potentially attract new ones too.

Caring for Causes

Of course, it is not just the public who have control over these philanthropic pursuits. Company directors and CEOs are also directing their corporations towards issues and areas that they personally care about.

Two great examples here are Tej Kohli and Bill Gates. Tej Kohli is the founder of the philanthropic Tej Kohli Foundation which is engaged in several missions around the world. In particular, they are committed to trying to eliminate corneal blindness, one of the most common types of blindness in the world. Bill Gates and his wife Melinda set up the Bill and Melinda Gates Foundation. They have been engaged in healthcare philanthropy to help improve the living conditions for many thousands of people all across the world.

Uplifting Others

As there continues to be a growing wealth gap between the top percentiles of our society, corporations are beginning to look into ways they can offer help to some of those lower down. This could be in the form of a scholarship to attend higher education, or it could be through the form of work experience within the company.

It could even be as simple as constructing a local community centre for everyone to use. There are many small ways that a corporation can provide better opportunities to those in poorer areas. We never know what someone can achieve when given the right tools for success.

This is a trend that is most definitely not going away. With more and more corporations turning to philanthropic efforts, we are likely to see a lot of good come out of this world in the future. Take a look at some of your favourite companies to see what they are doing, or even look at some of the paths that you could adopt as a business owner.

Read the rest here:
Why Corporations Are Turning To Philanthropy - International Business Times UK

This entry was posted on October 6, 2020 at 4:57 am and is filed under Blindness. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed. |