3 Reasons Why Executives Prioritize Philanthropy

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Many large corporations in the world have one thing in common – they all have a philanthropic policy, program and culture. They know how important it is to help communities, support research, encourage education, improve health systems and help transform the lives of people and the planet.  In addition to money for donations, these organizations are also known for encouraging employees to contribute to charity programs, including donating their time to volunteer.

Here are three reasons why successful executives prioritize philanthropy.  

They want to better the environment

As the saying goes: “there can be no successful company in a failed society.” As leaders of a company, you must adapt your mission for one that supports sustainable causes. For business executives, the shift to eco-friendly investments is partly due to factors like climate change and green-focused initiatives. Whatever the reason, more organizations are reevaluating how their products and overall production practices are affecting the environment.

In short, a socially responsible company may include community development as a main pillar of the mission statement, implement new strategies for social change, and begin collaborating with environmental groups.

They know giving back is good for the community

It’s important to never lose sight of your responsibility to support organizations committed to unconditional generosity and helping those in need.  There is no time like the present to reflect on your good fortune and pay it forward. Giving back is rewarding but it’s also critical. Community support makes it possible for organizations to do the work they do every day. 

Successful businessmen like Thomas Kane prefer incorporating philanthropy into their daily lives. Specifically, Thomas Kane, a Chicago executive, is passionate about giving back.  His advice for executives looking to make their business more socially conscious is to pick an issue they are passionate about, declare a clear goal, and utilize their resources.  

Also, make sure to invite your employees to get involved by giving them days off to volunteer in any way they can with causes they are passionate about too.  

They know giving back is good business

Business executives know that giving back to a good cause is a great networking opportunity.  Active participation into these organizations brings one into contact with more people, and for an entrepreneur or businessperson, these connections are an invaluable resource. People in these organizations tend to develop a mutual trust and respect for one another, which are essential factors in doing business.

Successful corporate leaders also understand the importance of boosting internal morale and improving the area you live in are all good reasons to make positive contributions to your community. If you position your company as a positive force in the community it can improve employees’ regard for their corporate leaders, which can only help you.  It goes without saying, all companies should make philanthropy a central part of their business model.

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