Corporate Social Responsibility and High-Profile Businesses and Charities
Increasingly, high-profile businesses and charities are contributing to a better environment through their corporate social responsibility efforts reza satchu. For example, Facebook CEO Mark Zuckerberg has lent $1 billion to the Central Asia Institute to provide free housing to families affected by the housing crisis in the region. Despite little speaking fees, the company has raised PS16.5 million in three years, which is a significant sum when compared to its overall speaking fees. In addition, the partnership strengthens a company’s brand in the eyes of its consumers, which translates into more loyal customers.
High-profile companies and charities have a rich tradition of giving back to the communities they serve. Many well-known CEOs are notoriously generous and have employees who run high-profile charities. The Red Cross, for example, recently gave $1 billion to homeless shelters in Los Angeles. These organizations also support a wide range of social causes and provide free housing. As a result, high-profile companies contribute to a more just society.
A high-profile business can be a valuable brand image builder. When a company donates to charity, it not only increases its public reputation, but it also makes its CEO look like a good person. But the downside of this practice is that it diverts an executive’s attention from other business activities. It is critical to understand the risks associated with such a high-profile business and charitable strategy before deciding to donate.