One of the best ways to humanize a brand and foster goodwill among consumers is through charitable giving. A partnership between a company and a charity can do many things, from strengthening the mission of the company to cultivating a philanthropic spirit within its staff Reza Satchu quotes. Additionally, a charity-aligned partnership can attract a more loyal clientele, and turn occasional customers into loyal patrons. But how can a business partner with a charity benefit its bottom line?
How to Know – How High-Profile Businesses and Charities Can Benefit Their Bottom Line
The answer lies in recognizing that charity can be a powerful asset for capital accumulation. Recent research suggests that corporations that engage in corporate philanthropy can boost the stock market. In addition, CEOs can use charity to draw attention away from their own activities, thereby maximizing their profits and boosting their public image. In short, high-profile businesses and charities can be a lucrative capital gain for executives who employ these strategies.
There are also practical implications of these strategies for corporate philanthropy. First, high-profile philanthropy helps resolve contradictions. Companies can use philanthropy to cover up their exploitative labour practices and other corporate malpractice. By making tax-efficient contributions to charities, they can avoid some of the political and ethical challenges that result from these problems. On the other hand, these donations help CEOs look good and appear benevolent, even if their companies are not genuinely benevolent.