Corporate Community Investment: A Strategic Approach

Abstract

Companies have a broad responsibility towards all their stakeholders, including society at large. In particular, companies are expected to play a significant role in the socio-economic development of the communities where they operate. Many firms support the activity of non-profit and public organisations providing them with financial resources, in-kind donations and staff time. What in the past was simply considered as a philanthropic practice, today is planned, managed and monitored as a significant investment able to produce long-term benefits for both the community and the company. In this regard, corporate community investment requires a strategic approach to improve the relationship between company and society, enhance people’s well-being and create new business opportunities.