Giving Compass' Take:

• Kris Putnam-Walkerly suggests that corporate leaders need to examine their business missions and if those values align with their philanthropy. 

• How can business leaders' philanthropic choices make a difference during this time? 

• Read why systems change is necessary to respond to COVID-19. 

One simple question can harness the power of strategic giving to address turmoil and support recovery.

We’ve seen Bank of America pledge $1 billion a year for four years “to help local communities address economic and racial inequality accelerated by a global pandemic.” The shoe company Keen promised 100,000 shoes to people directly impacted by COVID-19. The Danish company LEGO is putting $4 million toward racial equality education for kids and U.S. organizations supporting Black children. These are just a few examples of the many companies stepping up nationally and internationally in support of employees, communities and causes.

And we need more. Effectively recovering as a society and creating the lift we need for a different and better future requires ongoing and comprehensive leadership across government, philanthropy, and the nonprofit and for-profit sectors. While we need to act fast, that doesn’t mean companies should trip over themselves to “do the right thing.” Instead, we need companies to lead with intention. How to do that? Start by asking Why.

Ideally, your philanthropy and business inform one another. When your “why” truly aligns with your values and connects with your reason for being, employees, customers and community, it creates a powerful feedback loop of purpose. We’re seeing lots of companies step up with donations on pandemic relief and Black Lives Matter, which is good. But the companies that do so within a broader strategic framework of transformation will go further. Those that recognize and address their own mistakes and flaws will make a more significant difference. They’ll also avoid backlash about inconsistencies in how they show up. Case in point, this New York Times article: Social Media Giants Support Racial Justice. Their Products Undermine It.

Read the full article about the question corporate leaders should be asking by Kris Putnam-Walkerly at CEOWORLD Magazine.