A slowing economy can be devastating to nonprofit organizations, as the sector faces severe headwinds, both in the increased cost of doing business, and sharp decrease in donations. Though middle class individuals are the first to cut back on their charitable donations in hard economic times, corporate giving is no exception. The faltering US economy has led corporations to forgo philanthropic endeavors, choosing instead to concentrate on their bottom line. Have you noticed your corporation cut back on charitable giving? Have you cut back on personal charitable donations?
Though it has always been in the interest of a corporation to be customer-intuitive, corporations seem to be tapping more into their shoppers’ social conscious. The most evident example is the ubiquitous go green ideology, capturing everyone from Wal-Mart to McDonalds. Though such corporations may be pushing sustainability solely out of the goodness of their hearts, it doesn’t hurt that more and more consumers are demanding eco friendly products and overall environmental responsibility. How have you, if at all, altered your business strategy based on consumer social awareness demand?
Over the past few years, we have witnessed some of the most horrific and devastating natural disasters, from Hurricane Katrina to the tsunami in Sri Lanka. It is often in these times of great need and urgency that we see corporations extend their philanthropic focus worldwide. This continues to ring true, as corporations and individuals alike spring into action to send aid and relief to recently devastated Myanmar and earth shaken China. Does your corporation extend aid to foreign countries hit by disaster?
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