strategic philanthropy

Feb 3rd, 2012
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Research, define, and discuss what strategic philanthropy is and why it is beneficial to organizations, as well as give one example. 2-3 pages

Word Count: 618
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Strategic PhilanthropyNameClassDateProfessorStrategic PhilanthropyThe word philanthropy means to take steps to improve the lives of other people. Strategic philanthropy is developing a plan of action to align the goals of an organization with taking the steps to improve the lives of others. Even though America is a capitalist society that allows for competition and does not require businesses to be philanthropic, the business that takes social responsibility and gives back to society will build a stronger brand than the company that does not. Strategic philanthropy can position a company in the market to be more successful and to increase their bottom line.When a company gives back they build stronger relationships in the community resulting in stronger customer loyalty and higher employee retention. When customers are loyal they will continue to see out the service of the company and will spread positive word of mouth. Companies that give back show customers they are invested in society and are willing to take steps to improve the community. While the company must give back they cannot give to everyone that asks and must choose carefully where their phil

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