BUSINESS AND SOCIETY

Business and Society

Business and Society

Strategic philanthropy is characterized as the synergistic use of organizational centre competencies and assets to address key stakeholders' concerns and to accomplish both organizational and communal benefits. Beyond customary benevolent philanthropy (e.g. percentage of sales donations or flat donations to communal causes), strategic philanthropy engages employees (i.e. comprehending their desires and centre skills), organizational know-how (e.g. gear, information and economic resources), and the proficiency to connection employees, customers, suppliers and societal desires with these key assets. John Damonti, President of the Bristol-Myers Squibb Foundation, echoed, “When you align your assistance with your enterprise aim, you ...