How Do Businesses Guide Philanthropy Efforts?



How Do Businesses Guide Philanthropy Efforts?

At times, it can feel like charities exist in a very different space compared to the wider world of businesses. However, they often have a symbiotic relationship with many companies. One may influence the other quite closely. Let’s take a closer look at how businesses will guide philanthropy efforts across different industries.

Innovation

Many businesses are working towards innovative processes that could change some aspect of business as we know it. Be it a new product or a new software, companies are bringing out new things each and every day.

While the ultimate goal of these products is to make money, there are several companies that also keep a charitable mind when it comes to these innovations. For example, they may choose to donate a certain level of their stock to charities. They can then still drive revenue and sales through traditional means, but they know that their products can go to helping those who the charities target directly.

Directors

Many successful company owners want to give back in some way following the success of their business. Figures like Bill Gates or Tej Kohli have made names for themselves in the business world and they are now determined to give something back to their communities.

Both have found philanthropic callings that are guiding them in these later projects. With both men becoming known for their charitable acts on top of their business pursuits, it is clear to see how they are able to guide both the business and charitable parts of their working lives. They are able to provide something for the global community while, at the same time, also benefitting their charities with the knowledge they have honed as leaders of business.

Business

At the end of the day, most charities are a form of company in some way. The bureaucratic structure of a charity is very similar to that of a business, even if one business develops SaaS while a charity delivers clean water aid to the third world.

As a result, it can be very easy to track business trends guiding philanthropy efforts as many of the tips used to push companies ahead can also be utilised by charities. Whether they are creating blogs to boost their SEO or starting an ecommerce shop or a podcast to bring new customers and awareness to their brand, there is always something they can do to push themselves ahead.

Though charity work and business might not seem to have much of an overlap, there are distinct areas that most definitely do. Whether you work in the charity sector or you have a traditional business model, looking at the similarities between organisations may give you some key ideas to help you improve your current situation. Take a look at some of the top businesses that regularly deal with charities in all areas. This could help you come up with some key strategies to help you change the direction of your company for the better, whatever it may be.