Philanthropic works of socially good companies are important, not only for the viability of the company itself but also for the improvement of social functioning and the overall betterment of lives. The future of humanity depends on finding innovative ways to more equally distribute necessary resources, improve access to health care, and educate the masses.
The socially responsible behavior of your business not only has the potential to build a strong sense of community among your consumers which may lead to increased revenue, but from an employee perspective, socially good works increase interest, engagement, and retention. Employees are more likely to commit to long-term company loyalty when the know that their employers have a business mission and vision that aligns with their value system. On the whole, philanthropy is good for business from every angle.
Many companies are working hard to develop and implement socially responsible initiatives, but finding ways to let potential consumers and employees know what a business is doing can be quite another. Getting the word out can be difficult, especially if yours is a well-established business whose brand, logo, tagline, and marketing strategy is consistent with your backstory but not necessarily your new social initiative. A company may find it difficult to break away from how it is steeped in current business culture and explore options for shifting its thrust.