Giving Compass' Take:

• The author outlines the importance of philanthropy in corporate settings and the various ways in which companies can implement philanthropic efforts and still be successful. 

• Some businesses can take part in philanthropy in different ways, such as working on disease prevention or starting educational scholarships. Philanthropy is flexible in the sense that a business can cater it's charitable goals to what it can afford or based on interest. 

• Read about the different types of emerging philanthropy. 

People admire businesses that have done well because of their dedication to selling the highest quality products and services, core beliefs like staying focused on goals, and providing an excellent customer experience. Having a technological advantage, combined with a good game plan for achieving the objectives the business has set its sights on are also good business strategies.

Drive and ambition are excellent intentions, but things that can really make a business stand apart from the rest are dedication towards being philanthropic within a community and goals of making a true difference in people’s lives. Many companies today have a philanthropic spirit.

They take part in philanthropic endeavors because the causes they help to raise money for and support are causes that they genuinely believe in. Sometimes the beneficiary organizations serve causes that employees or their loved ones have been touched by. When a businessman goes out and starts philanthropic efforts simply for the joy of helping others, this quickly becomes a trait that is admired and sometimes mirrored by others.

Charitable causes helped by those in the corporate world include foundations and organizations that work on disease prevention and finding cures for catastrophic diseases, educational charities, and philanthropic ventures that help people who find themselves in unfortunate situations. Some businesses choose to go the educational route by starting scholarships that are given to students who have worked consistently to earn high grades and to those who have proven excellence in academics.

The most generous companies according to the Fortune 500 Giving 20 list have contributed to causes like hunger relief, helping people to buy homes, educational institutions and scholarships, food banks and social programs.

Read the source article about philanthropy at Small Biz Viewpoints