Business’s Social Contract
Capturing the Corporate Philanthropy Opportunity
CECP presents this exciting study on the practices of efficient corporate philanthropists based on research and analysis conducted by McKinsey & Co. The research includes a survey of 700+ global C-suite executives, interviews with CECP CEO members, and the results of the 2008 Board of Boards CEO conference roundtable discussion. Report highlights include:
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CECP presents this exciting study on the practices of efficient corporate philanthropists based on research and analysis conducted by McKinsey & Co. The research includes a survey of 700+ global C-suite executives, interviews with CECP CEO members, and the results of the 2008 Board of Boards CEO conference roundtable discussion. Report highlights include:
- The Shifting Social Contract. 84% of corporate executives believe that society expects businesses to take a more active role in environmental, social, and political issues than it did five years ago. Corporate philanthropy is one effective way to meet these new expectations.
- The Evolution of Corporate Philanthropy. Companies are developing more sophisticated initiatives to address the three levels of their contract with society (laws and regulations, implicit nonlegal expectations, and frontier issues such as obesity or human rights) and employing broader resources for community impact, including volunteerism, product donations, and capacity building.
- The Complexity of Getting It Right. Fewer than 20% of companies surveyed said their philanthropic efforts were very or extremely effective in meeting social or business goals. To help optimize these efforts, companies must define the focus of philanthropic efforts, gain public recognition for their programs, and allocate appropriate CEO time to philanthropy.
- Capturing the Corporate Philanthropy Opportunity. Examining the behavior of leading corporate philanthropists uncovered three keys to philanthropic success: deep involvement from the CEO and board of directors, alignment between philanthropic and business strategy, and management of philanthropy as a business investment.
Download the report » (PDF)
