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| Opportunities & Exposures: Philanthropy |
Doing Well by Doing Good
Paul C. Godfrey
05/01/2006
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Where to engage. When
potential risks and losses are clear and executives have an idea of how much to
spend, they can determine where to spend by answering this question: Does the
company’s unique stakeholder set share a common set of values, or does it have a
diverse set of sometimes conflicting values?
The point is to match giving programs to the values of
stakeholders. Outdoor-equipment maker REI targets giving toward trail, river and
wilderness preservation because those issues are vital to its customers and
suppliers. Communications giant Qwest, with a diverse set of stakeholders,
spreads giving across a number of causes, from K-12 education to local economic
development initiatives.
Through the successful use of philanthropy, executives and the firms they
lead can provide shareholders with added protection of important intangible
assets at the same time they advance causes and values dear to stakeholders.
Paul C. Godfrey is associate professor of strategy at the
Marriott School of Management at Brigham Young University. |  |
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