Beyond the Bottom Line: The “WHY” of Corporate Philanthropy.

Chanelle van Dyk
28th Apr, 2023

Corporate philanthropy has become an increasingly important aspect of modern business practices, as companies seek to make a positive impact on society beyond their immediate business operations. At the heart of corporate philanthropy is a desire to help those in need, to make a positive difference in the world, and to build a better future for all. For some companies, their philanthropic efforts may be driven by personal values or a sense of responsibility to give back to the communities that have supported them. For others, it may be a strategic business decision to enhance their brand and reputation or to appeal to customers who value social responsibility.

Corporate philanthropy can be described as the effort a business or organisation undertakes in promoting the welfare of others, generally through donations of funds or time (Hayes, 2022). We can take it a step further by saying that it is the heart of an organisation, the purpose beyond the bottom line.

The words “charity” and “philanthropy” are often used interchangeably, but philanthropy tends to encompass a broader range of giving activities. Philanthropy involves supporting communities or groups to help them reach their full potential through initiatives such as special events, funding and necessities. Typically, philanthropic efforts involve a long-term commitment to the cause being served. Charity, on the other hand, is usually based on individual giving and provides short term assistance, like donating food and warm cloths to the homeless.

So, why does our company care about philanthropy?

We firmly believe in the importance of giving back to the community and making a positive impact on people's lives. Our commitment to philanthropy is driven by our deep sense of responsibility to help those who are vulnerable and in need. At AGORA, we recognize that success is not only measured by financial gain, but also by the positive difference we can make in the world. With this in mind, we have focused our philanthropic efforts on supporting vulnerable groups, especially children and the elderly, who are often overlooked and in great need of support.

Our organisation has forged a special relationship with New Hope School, one of the largest special needs schools in South Africa. New Hope School is committed to enabling every learner to realize their full emotional, spiritual, and physical potential. Every time we visit the children, their beaming smiles and expressions of gratitude never cease to move us. We consider it a honour to be able to make a meaningful impact in the lives of these incredible children.

As a part of our commitment to supporting vulnerable groups in South Africa, we have partnered with Silverdae Old Age Home and The Magrietjies. Located in Waterval Boven, Mpumalanga, Silverdae has been providing care to the elderly and the frail since 1986. It is run by seniors, as a community-based project, and we are proud to support their efforts to meet the care requirements of those in need. In addition to Silverdae, we also work closely with The Magrietjies, a voluntary charity organization established in 1994. They provide free care and support to cancer patients, relying solely on fundraising and donations for medical equipment, medicine, treatments, and services. Despite the lack of government support, The Magrietjies remains committed to delivering high-quality care to those who need it most. We are honoured to be a part of their care circle and will continue to support both organizations in their critical work.

  

At our company, we firmly believe that philanthropy starts with our own people. We encourage all employees to get involved in our philanthropic efforts and initiatives, recognizing that this not only benefits the communities we serve but also fosters a sense of purpose and fulfilment among our staff. Through our philanthropic events, our employees have the opportunity to work together towards a common goal, which helps to build stronger bonds among team members and promote a positive work culture. In turn, this can lead to increased employee satisfaction and loyalty, ultimately resulting in a happier workforce.

Of course, there are critics who argue that corporate philanthropy is a little more than a PR stunt, and that companies should focus solely on maximizing profits. However, the reality is that philanthropy can actually be a smart business decision, as studies have shown that companies that prioritize social responsibility tend to perform better financially in the long run. By giving back to your community, you can build a loyal customer base, attract and retain top talent, and enhance your brand reputation, all of which can contribute to your bottom line.

 

Regardless of the motivation behind corporate philanthropy, the impact it makes on the vulnerable groups are significant and indeed appreciated. Corporate philanthropy has the potential to make a huge impact on society and can be a powerful tool for addressing social issues. Whether it's driven by personal values or a strategic business decision, the impact of corporate philanthropy cannot be overstated. At AGORA, we have made it our mission to focus our giving efforts on supporting these people and recognizing the unique challenges they face. Our commitment to corporate philanthropy is rooted in our belief that we have a responsibility to help those in need. We want to make a positive impact in their lives, and we are proud to be a part of this important work.

 

References:

Adam Hayes [Internet]. What is Philanthropy? Investopedia; [updated 2022 April 13; cited 2023 April 6]. Available from: https://www.investopedia.com/terms/p/philanthropy.asp#toc-what-is-philanthropy.

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