Giving

Successful businesses have a lot to offer communities: They provide valuable employment opportunities, they create goods and services that are in high demand, and some of them find creative and inspiring ways to give — either money or time — to individuals, groups or causes that benefit greatly from their generosity. Some conscientious companies even have charitable giving baked into their business plans.

Within the B Corp community, we find hundreds of examples of charitable companies. In 2012, Etsy provided $50,000 worth of grants to women who wanted to become better programmers. Give Something Back Office Supplies donates the majority of its yearly profits to local charities, and it chooses its recipients based on votes from employees, customers and community members.

Discover how good practices can become good business when you download our FREE Special Report, Why Is Corporate Social Responsibility Important? CSR Advantages, from Profit to Longevity

Charitable giving is, without a doubt, a worthy endeavor for individuals and groups with the means to spare. And the desire to make the lives of recipients better should be reason enough to embark on programs that give back. But for businesses, giving has both external and internal benefits.

Tactical giving, or cause marketing, takes place when a company identifies an opportunity for giving that also builds brand equity. A prime example of cause marketing is event sponsorship. Brands that sponsor events are supporting celebrations, competitions and other activities that uplift communities. At the same time, they’re creating valuable and positive brand recognition. Cause marketing done well is a true win-win.

Companies attempting to become more philanthropic must carefully consider how their giving will be carried out. Among decisions to be made are:

  • Who will manage the program?
  • How many causes will they donate to?
  • How often should the giving take place?
  • Should time or money (or something else entirely) be donated?

When philanthropic missions are identified and key decisions are made, companies and their surrounding communities can benefit greatly from giving programs. Learn more about the importance of corporate social responsibility and how giving back plays a part in our free report.

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Discover how good practices can become good business when you download our FREE Special Report, Why Is Corporate Social Responsibility Important? CSR Advantages, from Profit to Longevity



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