With the slow growth of the economy and with various industries striving to recover from the recession, many companies have also stepped up their efforts in order to keep up their philanthropic projects in spite of having scarce resources to spare.
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Certainly, the general opinion on donating one’s time and resources is that it is an integral part of a sustainable business strategy. It is something that must be included in business plans regardless if a business is booming or is experiencing financial difficulty, like the current situation faced by many.
The previous year, 2012, was a year of many difficulties for many companies. Philanthropic ventures have consequently suffered, and the Chronicle of Philanthropy has found that financial aid and donations from organizations in 2012 were significantly lower than in 2007, which is the period before the recession.
Still, financial difficulties have not stopped many companies and wealthy individuals from giving back to society. In the same way that they have let their companies to prosper in spite of several challenges along the way, many able business people have found ways to continue with their altruistic projects in spite of limited resources.
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Due to the economic downturn and the slow recovery, companies have become more focused in their charitable efforts.
Some have chosen to support fewer causes in a bigger way. Companies may emulate such a strategy by selecting and contributing only to a few causes. They can make their choices based on corporate values and the company’s image.
Employee engagement programs are also a wise choice to boost a company’s charitable ventures. Companies can match donations and encourage volunteerism among its ranks, a move which furthers the company’s philanthropic goals and may also be seen as an employee benefit.
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Check out on this Alex von Furstenberg blog for more stories on philanthropic ventures from around the nation.
