What is the difference between corporate philanthropy and corporate social responsibility?
Source: Corporate Services The two phrases most commonly used to describe the social activities of businesses are corporate philanthropy and corporate social responsibility. Corporate Philanthropy: • Those activities that companies voluntarily undertake to have a positive impact on society, including cash contributions, contributions of products and services, volunteerism, and other business transactions to advance a cause, issue or nonprofit organization. (Walker Information) • Donating money and other corporate resources to social causes. • Corporate philanthropy refers to the practice of companies of all sizes and sectors making charitable contributions to address a variety of social, economic and other issues as part of their overall corporate citizenship strategy. (Business for Social Responsibility) • Corporate philanthropy is a key component of a corporation’s broader social responsibility and includes cash gifts, product donations and employee volunteerism. It serves as a major
