Unlike a decade ago, today’s businesses are very much into philanthropy as part and parcel of its corporate social responsibility mechanism. But just how crucial is corporate social responsibility in today’s business arena? If social media reports are to be believed, more than half of the population are in one way or another manifests their intention to buy products or avail of services from brand names which espouse philanthropy in their business dealings.
Changing Times In Philanthropy
Some point this into the aggressiveness of social media as it conquers everything in real time. Some also see this as a natural course in time as consumers knowledge continue to expand with technology and the Internet. Nevertheless, it cannot be denied that philanthropy has always been considered one of the highest forms of service to humanity. But still, consumers are not easily swayed with business philanthropy without showing any cause of action anymore. Companies, in an effort to show trustworthiness and sincerity, no longer just go around writing checks for causes but rather advocates for them, too.
For businesses to be deemed sincere in their charity efforts, it must go beyond the call of conventional philanthropy. Consumers indirectly demand that philanthropic practices be made even more entrenched in business practices with higher management as well as employees taking hands-on approach to affect change on other people’s lives. As consumers are still the boss, these leaves business no choice but to rev up its charitable agenda and maneuver it into a more sustainable path.
Make It Work
As a business owner, there is so much you can do to create a new blend of business philanthropy. To make it advantageous to a business’ own agenda, adequate measures must be taken into mind. To get you started, here are some crucial insights to consider:
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Cultivate a culture of social responsibility– and the time to start it is now! Philanthropy or charitable practices must be deeply entrenched in your business plan. Be reminded that consumers see such aspect as part and parcel of their buying prowess.
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Be true to your advocacy. Do not just engage in charity for the sake of buffing up your stature in the industry. It must be done with all sincerity. Begin by opening a volunteer program in your company and allow it spread over time. Having business owners and executive partake in such an effort sends a message to your consumers leading to more respect and trust.
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Enhance productivity and employee retention via business philanthropy. Cultivating a culture of giving back allows employees to feel good about themselves vis-a-vis the company they are working for. Doing charitable efforts accordingly will help boost employee confidence to the company increasing more successes from collaborative efforts.
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Make your philanthropic deeds a regular charitable effort. Cultivating the culture of giving back allows you to build up a strong and empathy-based business. Doing so also has a huge impact to your bottom line. By balancing the scales between rich and poor, opening opportunities without boundaries, and delivering positive impact wherever you go, the higher will your chances be in the success path.
Without a doubt, many business today are heavily entrenched in corporate social responsibility via philanthropic efforts. By raising one community or one advocacy at a time, these corporations are unknowingly cultivating a culture of genuine compassion for the marginalized and for the future of the world as a whole. Through this, you can build strong foundation for the business and enhance its competitive advantage.