How Does Charitable Giving Have a Positive Impact on a Business?
There is an increasing number of people and organizations beginning to engage in charity work. It is now regarded by many as a necessary component to a good life and for good business. This is well understood by those who delve into such activities. Among modern philanthropists you can find famous actors, musicians like Chris Martin, Shakira, athletes, public figures like Tom Kane Merrill Lynch, politicians, and, of course, commercial organizations like Apple, Dell, etc.
Let’s think about what drives all these people to do charity work? The root words that create the word “charity” actually directly translate into “good” and “create”, that is, in simple terms, it means “to do good.” We can say that, first of all, such activity is aimed at meeting the high needs of other people, to engage in merciful acts and to assist our neighbors. Each of us is pleased to provide help and realize that by our actions we can greatly help other people through the challenges of life.
This is the inner side of charity, but there is also the outer side.
Many people and organisations have realized over the years that the perks of philanthropy far exceed the investment. It not only has benefits for how we feel about ourselves and through direct contributions to our communities and to the world, but it also is good for business.
Scientific studies have shown that there is an intersection between selflessness and selfishness with regard to philanthropy. People actually become happier when they are able to give back to their communities. Staff can function as happier members of a team knowing that their company is making a difference in the world in both small and large ways.
How can charity be beneficial for business?
Charitable acts generally gain traction through publicizing, creating a win-win scenario for the non profit organization and the business that is helping raise funds for it. More money is collected for the non profit and positive name recognition is generated for the company. A sort of fortuitous, mutually beneficial cross-marketing and advertising campaign can help all involved.
Improving Relations With Government:
Any association that helps the government can pave the way to future contracts.
Actions speak loudly with regard to reputation and charitable giving is one of the ways to bolster your reputation.
Based on participating in charity work, one can get a deluge of new qualified customers. This can have the best impact on business advancement later on.
As you can see, doing charity work can be very profitable for business. If you are a businessman similar to Thomas Kane Chicago or just starting your own business, think about it.