Discuss what particular advantages accrue to companies who proactively take steps to be philanthropically responsible.

Bus 402 Strategic Management and Business Policy Week 5 dq

There are many advantages to taking proactive steps in the direction of philanthropic responsibility for businesses. This can foster positive relations and goodwill with customers, employees, suppliers, etc.It can also provide valuable opportunities to public relations that could boost brand visibility.

Additionally, companies can show that they are committed to social issues. Customers today value this and it leads to greater sales and profit.

Engaging in charitable endeavors can also improve employees’ motivation and morale, which may lead to higher productivity over the long-term. Companies will reap long-term rewards from being involved with corporate social responsibility beyond financial gain.