What is strategic philanthropy?

Strategic philanthropy is a business concept where companies perform charity deeds and receive indirect financial benefits from these actions. This process usually means that the company is involved in some kind of partnership, whether for one project or in the long term, with a non -profit organization. In the strategic philanthropy process, the corporation is able to perform good for society by means of its funds or other sources to help worthy things. The tangential advantage of this event is that the awareness of the company's brand is increasing and the public can create a positive connection with society, which both can help the company's profit in the future. Most large corporations are involved in various charity causes. These corporations may be an important source of financing of non -profit organizations because they can provide a type of funding that non -profit organizations could not provide anywhere else. While society usually does not need any reason to help charity causes yinOh, than a simple desire to help, can ensure some indirect benefits for its lower limit in this process. This is where the concept of strategic philanthropy comes into play.

To perform strategic philanthropy, society must create a relationship with a non -profit organization. This can happen simply when the corporation donates money for the cause of the non -profit cause. The company can even be directly involved in a charity organization that provides valuable sources of the cause or even have volunteer employees per event. In some cases, the company may even establish a long -term relationship with a non -profit group that acts as a society sponsor.

One of the most important aspects of marketing is brand awareness and strategic philanthropy is an excellent way for society to achieve it. The brand awareness essentially means once a consumer gains knowledge ofCertain companies and are comfortable with it, it is more likely to buy goods or services from this company. A positive relationship with a good charity can ensure that consumers feel good about a specific corporation.

As a result, strategic philanthropy carried out by companies can remain in the minds of consumers when they have to decide between different alternatives to serve their needs. In this way, the company not only helps a worthy thing, but marketing related to the cause helps sales and profits. Companies must make sure that in such measures they always give the advantage of a charity organization first, otherwise the impact on public perception would prove to be the opposite of what was intended.