Do some voluntary actions for public good

As far as corporate philanthropy is concerned, executives are generally caught between investors applying pressure to maximize short-term profits and critics demanding ever higher levels of "corporate social responsibility". In a corporate scenario, philanthropy is increasingly being used as a form of advertising or public relations. By charity giving, large organizations are promoting their image and position. When you are buying a product from a manufacturer that donates hundreds of pounds to cancer charity, you will surely feel good about buying that product.

Corporate philanthropy is seen as a means of boosting the sales and increasing consumer loyalty. Large organizations in the UK and all over the world are using their charitable efforts to improve their competitive edge over the other bigger players in the same marketplace. There are some big multinational companies that are donating huge sums of money to global charity organizations to get a global reach. Using philanthropy, organizations are easily aligning the social and economic goals and improving their long term business prospects.

When an organization decides to make contributions to charity, they have to make fundamental changes in their current approach. The board of directors meets and decides on the amount that needs to be given for charity. Corporate philanthropy has gained a lot of relevance to daily business operations and processes. The strategic relevance of corporate philanthropy is universally accepted, but you will find several variations in its effectiveness. In the global scenario, there are a few organizations that have achieved significant lasting societal impacts with their philanthropy.

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