Richard James Schueler shares his opinion on why philanthropy is good for business

Richard James Schueler

Corporate philanthropy support communities where companies are based. It backs corporate giving programs, which lead to free money for nonprofits. Corporate philanthropy assists nonprofits through several methods of support, such as volunteer grants and corporate matching gift programs. The impact of volunteering and donations for nonprofits can be increased drastically with the assistance of corporate programs. Richard James Schueler being a philanthropist believes that corporate philanthropy promotes employee engagement and generates business value. When businesses take part in corporate philanthropy, they are creating an optimistic public image for themselves, improving their relationships with customers, and creating an optimistic work environment.

Companies are always on the search for ideas that make for excellent business. This is the reason why leading companies invest thousands of dollars in product innovations, marketing, and technology developments. It is clear to management how these investments can help perk up profitability, develop a larger customer base, and carry out other core business requirements.

The Future of Philanthropy - KPMG Global

Certainly, every company is in business to make money, but having a duty and vision that goes beyond the objective of turning a profit offers your company a broader sense of purpose. Embracing this vision of giving back to the community can revive the initial energy and drive that result in the creation of your company in the first place. When your company builds around a greater mission of doing well, you impart that fervor into your services, products, customers, employees, and shareholders. This fervor ultimately starts to manifest itself in the work of employees and managers, offering a greater sense of purpose that drives creativity and innovation and, in turn, results in business development.

Richard James Schueler states that your business has an unrecorded social contract with the community. Meeting your clients’ needs is vital to running a successful business, and this is why companies pay attention to many resources on customer service and enhancing the customer experience. Philanthropy initiatives result in greater customer engagement by making the connection between your company, the customer experience, and community building. Like workers, customers want to feel good about the companies they communicate with. By showing your clients that you care about more than just selling your products, you finish up with a more trustworthy customer base and a stronger bond with the community.

Thus, corporate philanthropy must be more than just an afterthought or something to do. It must be a core mission in your efforts to engage your employees, grow your business, and join with customers.

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