As a part of overall business strategy, organizations undertake philanthropic efforts as a means of marketing and promoting social responsibility. As a tool that business executives can utilize to drive corporate goals, philanthropy not only helps to support communities, but also empowers employees and creates excitement in the workplace towards a common purpose (Muller, Pfarrer, & Little, 2014). Philanthropy is also big business, particularly in the United States of America. Through a survey conducted on 2013 donations, the Aluminum giant Alcoa and its foundation donated 12.1% of its profits, equating to $39 million dollars. Conversely, Walmart donated only 1.4% of its corporate profits, but this amounted to $312 million dollars (Adams, 2015). As organizations continue to attract increasing public attention, philanthropy can assist in developing overall corporate image, as well as become a primary driver for the workforce involved.
Apple has a rich and tumultuous history since its founding in 1976. Heralded as both a genius and a mad man, Steve Jobs, the eclectic co-founder of apple, along with the technological expertise of co-founder Steve Wozniak, staked their claim to fame by introducing the Apple computer into the marketplace. Through a number of market changes, as well as Jobs being involuntarily removed from Apple in 1985 only to return in 1997, Apple diversified from the traditional computer and began to develop consumer technological items such as the iPod and iPad (Sanford, 2015). Apples strategy worked, and as of 2015, Apple had a market capitalization of over $700 billion, more than its key competitors of Google and Microsoft combined (Reed, 2015).
For Apple, partic...
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...s are minor as a percentage of total income, and being a leader in their industry has allowed them some flexibility in devoting resources to efficiency improvements (Apple, 2014).
Corporate philanthropy is a tool, that when used effectively, can provide long lasting benefits to an organization. In the case of Apple, a broad approach to philanthropy in tackling issues that the organization feels strongly about has allocated resources to many different causes. At the same time, letting employees assist in causes that they are dedicated to, and providing additional financial benefits to these causes, helps to encourage an environment of social responsibility. With Apples leadership making a strong commitment to philanthropy, the organization could find itself recognized as a not only the largest company, but also the most loved by the general public.
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