Sarah Ford | July 15, 2014

A New Form of Giving

By Ken Makovsky

Philanthropy.听 We all know what it is:听 鈥渢he practice of giving money and time to help make life better for other people.鈥澨 But not everyone may be aware that it鈥檚 much more than a way for corporations to give back.听 These days, companies are often expected to be active participants 鈥 if not a driving force 鈥 in solving the most pressing social and environmental issues.

More than 8 out of 10 people surveyed in last year鈥檚听Cone Communications/Echo Global CSR Study听said they would consider corporate social responsibility when deciding where to work (81%), what to buy or where to shop (87%) and which products and services to recommend to others (85%).

So what鈥檚 the most effective way for a company to act on its philanthropic goals?

For Toyota, it鈥檚 kaizen.听 Kaizen, which in Japanese means good (zen) change (kai), is a philosophy that encourages people to think outside the box, making small changes to generate big results.

鈥淚t鈥檚 a form of corporate philanthropy but instead of giving money, they鈥檙e sharing expertise,鈥 says David J. Vogel, a professor and an expert in CSR at the Haas School of Business at the University of California, Berkeley. 鈥淚t鈥檚 quite new.鈥

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