Six Lessons on Strategic Philanthropy to Advance Your Company’s Reputation Chances are if your company made it onto Fortune magazine’s list of “World’s Most Admired Companies” for 2019, strategic philanthropy is hard-wired into your DNA. The prestigious survey uses nine criteria to select the best-regarded businesses, including corporate social responsibility (CSR). Companies embracing CSR—the belief we all have social, environmental and ethical responsibilities to society—are reaping the benefits of their activities in important ways. First, they are establishing goodwill with employees, customers and other community members. That’s earned trust you can bank on. Even better, they are increasing profits and building strong brands. Starbuck’s, which ranks fifth on this year’s […]
Although we often hear about how important small businesses are to job creation and economic growth, what may be lesser known is the vital role they play in local philanthropy and solving key social issues. While large, Fortune 500 companies may get the most press and marketing visibility for their philanthropy in the macro economy, small, Main Street businesses are the ones moving mountains in the micro economy. These are the manufacturing, retail and service firms, community banks and sole proprietorships creating the majority of jobs in the neighborhoods, downtown business districts, manufacturing centers and commercial corridors across America. Owners and members of these companies are committed to their local […]