Companies are always searching for ideas that make for decent business. This is the reason why certain companies invest millions of dollars in product innovations, technology advancements, and marketing. It is clear to management how these investments can help improve cost-effectiveness, grow a superior customer base, and accomplish other core business requirements. However, most of the businesses do not understand why philanthropy is good for business as well. To certain business frontrunners, corporate philanthropy may seem like the companies with sufficient time, money, and interest can also think of getting involved in these services. In the present highly competitive market, this cannot be more from the reality. Companies who have included philanthropy as a core business practice have found that they gain rewards far beyond that what they have thought. This has rotated corporate volunteering, philanthropy, and employee giving into corporate necessities that cannot be overlooked and are an indispensable part of the business.
Anura Perera Kenya is a successful international entrepreneur with assets in continents such as the Middle East, Africa, Europe, and Asia. Anura also sponsors several humanitarian and philanthropic causes, such as poverty mitigation, support for the disabled individuals and rebuilding of disaster-stricken communities. Prior becoming a well-known businessman he has been working as a construction equipment salesman at Caterpillar, Inc.
The fact is that even if the government can exhaust all its resources to address the issues of the country, this is always not enough as it takes collective effort to combat and completely eliminate all these social problems. In the past few years, large as well as small and medium scale corporations have taken the lead towards helping the government manage the social issues. Even though they are not directed by any law, many private companies and organizations are using their own resources to deal with problems such: child abuse, health-related issues like AIDS, cancer, environmental issues like global warming, ozone depletion, child labor, and domestic violence (VAW) etc. All these acts are a part of the company’s self-regulating policy to stand by the laws and regulations of the state and this act has been termed as corporate social responsibility or CSR.
Corporate philanthropy or corporate giving is simply when a company contributes some of their profits, or their resources, to a nonprofit organization. This is often managed straightaway by the company on its own, but it can also be done through a company foundation. Corporate philanthropy also offers a wide range of welfares to the company itself, which inspire them even more to include themselves with charities. The obvious reason is that it improves their repute so that they are thought of as an optimistic and obliging company, which often leads to further sales because their customers feel they are making a variance by keeping the business and charity work going. Anura Perera Kenya states that this also improves the relationship with the administration, public and their stockholders, so they will give them an easier time, lots of support and possibly even grants.