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Post: Business and Society 10e
Business and Society: Corporate Strategy, Public Policy, Ethics, 10/e
James Post, Boston University
Anne T Lawrence, San Jose State University
James Weber, Duquesne University
The Community and the Corporation

Chapter Summary

  • Businesses and the communities have a mutual dependence that is both economically and socially significant. Many of a company's stakeholders-employees, suppliers, customers-may reside in the community and be affected by its problems and benefits. Thus, many businesses participate in community affairs and support community interests as well as their own.
  • Many corporations have established a community relations office that connects their activities to local needs and community groups and develops strategies for creating win-win approaches to solving community problems.
  • Corporate community involvement with educational, charitable, scientific, and community programs helps to build social capital and sustain vital community institutions. This involvement also benefits the business in a variety of ways, including its reputation as a good place to work and a committed citizen.
  • Corporate volunteerism involves encouraging employees to participate in projects that address a wide range of community needs. Some companies have made volunteerism an explicit way to connect their business and citizenship strategy.
  • Corporate philanthropy is one way for businesses to support community groups with direct financial support. Strategic philanthropy represents a way of linking corporate giving and business goals. Successful strategies for coping with community problems often involve a mixture of philanthropy and other forms of cooperation among businesses, government, volunteers, labor unions, and community organizations.
  • The development of public-private partnerships has proven to be effective in tackling some problems in education, economic development, and social service needs. Partnerships and volunteerism provide models of a shared responsibility in which business and communities address social problems. Many businesses and communities are creating new strategies based on these models.




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