Examine the company’s strategic philanthropy and how it impacts profits, brand, image and turnover, as well as society as a whole.

Strategy philanthropy in organizations | Business & Finance homework help

A company’s strategic philanthropy involves making donations to non-profits and charities in order to create positive impressions among customers & other stakeholders while simultaneously expanding access larger markets. Implementing such measures can have a number of impacts not just on profits, brand/image and turnover – but also on society as whole depending on which initiatives are targeted. Companies can improve public perceptions by targeting causes directly related to poverty alleviation and environmental sustainability. This will allow them to reach wider audiences that traditional approaches would not be able to.

By taking part in these kinds of campaigns, businesses can see increased customer loyalty through improved branding & recognition which should translate into higher sales figures further down line. Additionally, when done correctly (i.e., selecting programs that are genuinely committed towards impactful outcomes) strategic philanthropy could lead to greater employee satisfaction due feeling empowered contributing something “greater good” beyond just work responsibilities usually associated with corporate life. This can lead to higher staff engagement and may result in greater employee retention.
Finally, when considering impact this has outside own organization it must be noted that helping those less fortunate often has far-reaching implications beyond any individual entity’s interests. The benefits derived from raising awareness around certain issues both regionally globally cannot be understated either– particularly when it comes tackling problems like climate change or human rights abuses where collective action is needed tackle such monumental challenges successfully.

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