Many companies conduct their charitable activities without a cohesive strategy for the charity. As a result, companies often do not only fail to achieve a significant impact on society through their philanthropy, but also lose the opportunity to achieve the strategic benefits to the organization. Draws on research in a number of experiments to describe the company of four types of corporate philanthropy: Some companies are focused on the needs of stakeholders such as communities, in an area where the firm, to conduct charitable initiatives, which are often related to their core business competencies. "Peripheral charity." Other companies focus on using unique skills and competencies corporations than on the important needs of the parties, and as a result, may end with an internally oriented approach ("narrowed Charity"). In other cases, often those with corporate donations, corporate charity events are held with little overall coordination at all ("scattered Charity"). Argues that the most effective approach to corporate philanthropy is one that includes both the needs of external stakeholders and donor skills Corporation ("strategic philanthropy"). "Hide
by Heike Bruch, Frank-Walter Source: MIT Sloan Management Review 9 pages. Publication Date: September 1, 2005. Prod. #: SMR186-PDF-ENG
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