RECOMMENDED READING:
Companies Say They Want To Support Sustainable Development, But Do They Know How?
By Ben Schiller (FastCompany)
“To prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society,” Fink said in a much cited letter to CEOs. “Companies must benefit all of their stakeholders, including shareholders, employees, customers, and the communities in which they operate.”
The Competitive Advantage of Corporate Philanthropy
by Michael E. Porter and Mark R. Kramer (Harvard Business Review)
"Corporations can use their charitable efforts to improve their competitive context —the quality of the business environment in the location or locations where they operate. Using philanthropy to enhance context brings social and economic goals into alignment and improves a company’s long-term business prospects—thus contradicting Friedman’s first assumption. In addition, addressing context enables a company not only to give money but also to leverage its capabilities and relationships in support of charitable causes."
The Markets Are Moving to Impact. Are You?
By Fran Seegull (Investopedia)
More and more, investors are exploring the idea of impact investing. Some of the largest and most sophisticated institutional investors look at a changing world and see markets that have failed to price in key risks and instability. Others see new opportunities driven by population growth, shifting consumer demand, emergent technology and climate change.
Understanding The New Rules Of Philanthropy In A Millennial Age
by Jeff Fromm (Forbes)
Today’s modern donors want to know and understand the impact their donations are making. According to the Fidelity Charitable Future of Philanthropy study, forty-one percent of individual donors say they have changed their giving due to increased knowledge about nonprofit effectiveness.
The Lesson Behind Fortune's 'Change the World' List
by Michael E. Porter and Mark R. Kramer
"As this year’s Change the World List demonstrates, more and more corporate leaders are embracing a new best practice with profound implications for their companies and the wider world. In increasing numbers, managers are integrating societal needs into their corporate strategy, aligning their companies’ business missions with their impact on their communities and the environment."
Why CSR? The Benefits Of Corporate Social Responsibility Will Move You To Act
by Devin Thorbe (Forbes)
"While each company I interviewed had varying responses for the benefits of CSR and cause marketing for the company, 51 of 59 believe that they have happier employees and 45 of the 59 believe they end up with better employees, either as a result of being able to attract better talent or that the CSR programs help to develop better employees."
How To Build A Public-Private Partnership That's More Than A Marriage Of Convenience
by Willy Foote (Forbes)
Public-private partnerships bring multi-sector stakeholders together to solve complex problems at scale. They take many different forms, but tend to work best when addressing an area in which traditional investment is lacking and the risks are too high for individual actors to undertake alone.
Cause-Related Marketing and the Millennial Mindset
By Christie Barakat for AdWeek
According to IPG Media Lab, one of five key millennial behaviors coming out of CES 2014 is: “Millennials look to rework – not reject – the rules and status quo in order to put their mark on the world.” Giving them the power to co-create with brands and products, in their own way, builds ongoing trusting relationships.
2015 Cone Communications Millennial CSR Study
Latest report by Cone Communications
The 2015 Cone Communications Millennial CSR Study gives an inside look into the unique attitudes, perceptions and behaviours of different Millennial segments when it comes to engaging with companies around social and environmental issues.
Key Findings Include: More than nine-in-10 Millennials would switch brands to one associated with a cause (91% vs. 85% U.S. average); Two-thirds use social media to engage around CSR (66% vs. 53% U.S. average); 62% are willing to take a pay cut to work for a responsible company (vs. 56% U.S. average)
How social justice is good for business
by Richard Branson
"The businesses that really do good - like Unilever, TOMS, I like to think Virgin and many others - their brands become stronger, people identify with them better, and therefore the business itself does better."
2006 Millennial Cause Study
Report by Cone Communications
The 2006 Cone Millennial Cause Study shows that 61% of Millennials, born between 1979 – 2001, feel personally responsible for making a difference in the world. This civic-minded generation, 78 million strong, not only believes it is their responsibility to make the world a better place, they (78%) believe companies have a responsibility to join them in this effort.
Largest to Smallest, Businesses Around the Globe Are Giving Back
by Devin Thorpe (Forbes)
"As noted in the article, it’s time for new approaches to grantmaking. These approaches should be rooted in a practical and comprehensive understanding of what it takes to build an effective and sustainable nonprofit organization. This will require committing to honest interaction between individual funders and nonprofit organizations to overcome the mutual distrust that often overwhelms the full cost conversation."
Creating Shared Value
by Michael E. Porter for Harvard Business Review
"Companies could bring business and society back together if they redefined their purpose as creating “shared value”—generating economic value in a way that also produces value for society by addressing its challenges. A shared value approach reconnects company success with social progress."
More Philanthropists Should Think Like Venture Capitalists
by William Foster, Forbes.com
"Many philanthropists, even those with great ambitions and results-oriented approaches, tend to underinvest in sourcing and due diligence. They may be reluctant to spend their philanthropic funds on anything other than the end recipients, or put too much money in any one thing, or let familiarity or inspiring conversations with a nonprofit leader guide their decisions. Sometimes that leads to great results for society, sometimes not."
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