Businesses can no longer survive on sales and new products alone.
Companies must have public (and internal) support to thrive in today’s competitive environment. This is where philanthropy plays a role.
Companies that contribute toward the greater global good are often better at motivating employees and satisfying customers. However, charitable initiatives must be visible and meaningful in a way that unites, inspires and motivates your stakeholders. People are loyal to companies they believe in, and people innately lean toward organizations with a giving spirit.
Business philanthropy is strong
According to Charity Navigator, charitable giving in the U.S. continues to increase year after year. In 2018, corporations in the United States donated nearly $18 billion to nonprofits. Whether through volunteering or donating financially, businesses are clearly pursuing philanthropy as a crucial component of strategic success.