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Starting Wrong
(US) Brigham Young University have just announced a report illustrating how corporate philanthropy adds to shareholder wealth. No surprises there, but what did make me cringe was the rhetoric and context used to promote the reasons behind such corporate investment…
Paul Godfrey, who wrote the report, said:
'Part of the reason that people have had such a hard time seeing the justification for corporate giving is that they don’t see any extra revenue being generated from the expense. What I argue in my paper is that they should look at it more like reputation insurance.
Bad things happen to every company, even the best companies. And just like a business with fire insurance is more valuable than one without it, businesses that have earned a reputation for being generous through acts of philanthropy are given the benefit of the doubt when negative events occur.'
As a consumer/customer, would you want to know that's the reason being a brands/companies motivations to invest into philanthropic activities?
Related post: Lightbulbs & Doing Well By Doing Good
Filed by DK on November 3 2005
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