Supporting the local community can be expensive. Even large organizations have to be careful about how and where they lend their time – and money. Is there value – beyond personal satisfaction – in supporting local events and activities? Which ones? How can you say “no” graciously to the many requests that come your way?
Research from the Council on Foundations, indicates that over a 10-year period, companies with good corporate citizenship images and programs enjoyed a 33 percent lead in growth of profits over competitors without such programs.
These efforts, though, need to be done strategically! The factors that go into determining whether you will support specific goodwill advertising requests are the same factors that go into virtually every business decision you make: your market, your business objectives and the resources you have available (your budget).
As you work to develop your own “goodwill policy,” follow these steps: (more…)