Businesses benefit greatly by locating themselves in communities with a rich cultural life because it provides them with an additional platform to execute their advertisements. Vibrant art organizations and a rich cultural life attracts a divine group of people that would make great potential customers for the businesses in the surrounding areas.
2. What evidence do you see in this case of the three kinds of corporate philanthropy discussed in this chapter: contributions of cash, in-kind products or services, and employee time?
In the case, a variety of different businesses contributed to non profit art organizations in various ways. Sponsorships, include contributions of cash, in-kind products, as well as employee time. As stated in the text, Time Warner chose to sponsor the NYC dance program. The dance program is a very popular event that people come out annually to support. For businesses that also focus on the arts, it is common for them to provide in-kind products, because they are easily accessible. Companies that choose to support the arts and enhancing the culture usually also donate their employees time. In order to
…show more content…
What are the benefits to the business discussed here of their contributions to arts organizations? Would you consider their contributions to represent strategic philanthropy, as defined in the chapter? Why or why not?
Successful businesses always incorporate strategic philanthropy into their business plan. Although their main purpose is to reach out and aid the art community, their ultimate goal is to bring in more revenue, attract new customers, and help their business grow. The benefits of the businesses contributions include, but are not limited to: new customers, new employees, business growth, free advertisement, but most of all, a positive impact on the community.
4. If you were a manger charged with evaluating corporate contributions, what criteria would you use to decide whether or not to give a particular art