What is Philanthropy and Why Does it Matter?
Philanthropy is the giving of money or other assets to charitable organizations . It is often seen as a way to alleviate poverty or promote social progress. But it is also an opportunity for corporations to address a broad range of social needs and create social value by making strategic investments in the world where they operate. In doing so, they can enhance their competitive context and increase their overall social impact. The history of Philanthropy dates back thousands of years. In ancient Chinese culture, monetary allowances were given to widows and orphans; Hebrews gave one-tenth of their income to God and those in need; and Egyptian nobles donated large amounts of money to improve their communities. During the Enlightenment, people began to question the role of charity and Philanthropy, and many asked whether giving was a duty or a choice (Bremner 1988). As society became more aware of social problems, it accepted the need for state intervention more strongly than ever. Phila