Family businesses are renowned for engaging in philanthropic activities but why do they do it?
Many don't make the headlines and prefer to make a difference whilst 'flying under the radar' but what is the rationale for giving.
Is it just about doing good or is it time to unleash the power of self-interest>
Encouraging businesses and individuals to identify what they can get out of philanthropy can feel uncomfortable, even tawdry. But there are two problems with relying on altruism as the main motivation for philanthropy. First, most people are altruistic only a small percentage of their time. To really get their attention, they have to see some value for themselves. Second, it is relatively easy to do good. Real change is more likely to happen when there is a goal in mind in addition to satisfying the altruistic urge. Therefore, to take advantage of the unprecedented opportunities for philanthropy to make a difference in society, we have to encourage people to think more consciously and creatively about: “What’s in this for me?”