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Lucas Oil Stadium actively participates in economic development, supports schools, the arts, and local healthcare programs, and contributes to public safety. They provide jobs, pay taxes, and support recreational opportunities, libraries, museums, and theaters. The stadium also assists less advantaged individuals and ensures fair and equitable taxation. With a cooperative problem-solving approach and strategic philanthropy, Lucas Oil Stadium aligns its core values with community needs.
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Business Participation Desired by Community Pays taxes Provides jobs and training Follows laws Supports schools Supports the arts and cultural activities Supports local health care programs Supports parks and recreation Assists less advantaged people Contributes to public safety Participates in economic development Community Services Desired by Business Schools—quality educational system Recreational opportunities Libraries, museums, theaters, and other cultural services Adequate infrastructure Adequate transportation systems Effective public safety services Fair and equitable taxation Streamlined permitting Quality health care services Cooperative problem-solving approach Figure 17.2 What the community and business want from each other
Strategic philanthropy Strategic philanthropy Corporate giving that is linked directly or indirectly to business goals and objectives. In this approach, both the company and society benefit from the gift. Strategies to help companies get the most benefit from their contributions • Draw on the unique assets and competencies of the business. • Align priorities with employee interests. • Align priorities with core values of the firm. • Use hard-nosed business methods to assess the impact of gifts.
“The Corporate Givers” • Global philanthropy is hot U.S. export • International programs now account for 16% of U.S. corporate giving • Reasons include fact that new business and production is headed overseas • Also, activists have increased pressure to address social issues • W/ rise of anti-Americanism, increased recognition that problems of rest of world can no longer be held at distance • Form of social insurance in era in which bad news about co can circle globe in heartbeat (such as via Internet) • Some cos harnessing core competencies to solve social problems • Projects build ee loyalty and attract potential hires • Research indicates 72% of job seekers prefer to work for co that supports social cause (other things equal?) • Research also indicates that 86% of young persons say they’ll switch brands to another associated w/ a social issue (recall previous questions re: knowledge, impact on behavior) • Source: Business Week, 11/29/04
