Asked by Shakira Robertson on May 18, 2024
Verified
_____ is the synergistic and mutually beneficial use of an organization's core competencies and resources to deal with key stakeholders so as to bring about organizational and societal benefits.
A) Social responsibility
B) Business ethics
C) Corporate philanthropy
D) Strategic philanthropy
E) Cause-related marketing
Strategic Philanthropy
This refers to the practice of companies and individuals directing their charitable activities towards causes that align with their own goals and values, maximizing the impact of their donations.
Core Competencies
Fundamental strengths or abilities that a company or individual possesses, which are central to its identity and success.
Organizational Benefits
Advantages or improvements experienced by an organization, such as increased efficiency, employee satisfaction, or enhanced reputation.
- Understand the concept of strategic philanthropy and its application in developing mutually beneficial relationships with stakeholders.
Verified Answer
Learning Objectives
- Understand the concept of strategic philanthropy and its application in developing mutually beneficial relationships with stakeholders.
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