When companies deploy the same processes they use to create commercial value to create philanthropic value, they can truly help charities achieve their social missions.
In the West, most wealthy entrepreneurs prefer to give to specific individual causes, by establishing their own foundation, family office, or donor-advised fund. Most Chinese entrepreneurs, by contrast, would rather work together and pursue philanthropy collectively.
The convergence of shifting corporate social responsibility trends, untapped NGO value, and pressing development challenges holds tremendous potential for driving social impact and business innovation.
It’s a confusing time for measuring corporate social and environmental impact, but the pioneers who take it seriously, set ambitious goals, and report accurately will come out ahead.
Corporate philanthropy can play a powerful role in addressing pervasive public health problems—a look at three effective practices from the Merck Childhood Asthma Network.