Giving Compass’ Take:
• The author shares how an analytics company called Uptake is taking non-traditional steps toward corporate philanthropy by measuring the value they create for their charity partners and the public rather than giving resources away.
• What are other ways that companies can come up with charitable contributions?
• Read about various executive strategies for corporations to carry out philanthropic initiatives.
When we think about corporate philanthropy—the allocation of company resources for public benefit—we often limit our definition of resources to employee time, money, and product. But how valuable are these resources, actually, to social sector organizations?
Just because your consulting firm can charge Fortune 100 companies $1,000 an hour doesn’t mean your advice will be useful to the executive director of a small community-based organization. Just because your product has brought in billions of dollars in consumer revenue doesn’t mean it will be useful or valuable to the social sector.
There is a better way. Corporations pursuing philanthropy should view nonprofits as customers; the products or services they develop should address nonprofits’ particular needs and fit into their unique processes. By deploying the same processes they use to create commercial value to create philanthropic value, companies can truly help charities achieve their social missions.
At our predictive analytics company, Uptake, we call this “giving our genius.” Unlike traditional philanthropy, where companies measure success by the amount of resources they give away, we measure it by how much value we create for our charity partners—how much public benefit we create—in a way that’s similar to how we measure our for-profit customer success.
Uptake works with large industrial companies to develop data-science applications that increase their operational safety, reliability, and efficiency, we don’t start out as or pretend to be experts in their industry domains. We are methodological, and we understand data science, software development, and how to use analytics to create lasting value. But we can’t deliver valuable technology unless we work closely with our industrial customers, who understand their sector’s unique challenges and opportunities.
Read the full article about corporate philanthropy by Andrew Means at Stanford Social Innovation Review
Learning and benchmarking are key steps towards becoming an impact giver. If you are interested in giving with impact on Corp Giving and CSR take a look at these selections from Giving Compass.
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Corp Giving and CSR is a fascinating topic, and others found these events, galas, conferences and volunteering opportunities aggregated by Giving Compass to be relevant for individuals with a passion for Corp Giving and CSR.
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