Aligning Your Wealth with Your Values
Photo by Kat Yukawa on Unsplash
Corporate social responsibility (CSR) is generally defined as the integration of business operations and values in such a way that the interests of all of a company’s stakeholders (e.g., investors, customers, employees, and the community) are reflected in the company's policies and practices. Most of us are familiar with two common initiatives within CSR plans: corporate philanthropy and cause-related marketing (CRM), or cause marketing.
Corporate philanthropy refers to charitable initiatives that help a company increase visibility, attract loyal customers, and offer employees the opportunity to band together in support of major social and civic concerns. A number of companies oversee corporate philanthropy vis-a-vis their corporate foundation, public relations, or external affairs department.
Many studies from Harvard Business School, and other prominent researchers, have found that leading companies have discovered that there is a strong business case for corporate philanthropy and community involvement. Empirical research studies have shown that people looking to work for a particular company have actually admitted that they factor in whether or not they view the company as a good corporate citizen. Studies have also shown that employees feel good in knowing that their company is engaged in giving back to the community.
In recent years, cause marketing has become more prevalent in business. Cause marketing is defined as a commercial activity by which businesses and charities form partnerships with each other to market an image, product, or service for mutual benefit. It’s an initiative for addressing social causes and issues by providing resources and funding while simultaneously addressing business objectives.
How do we, as God’s ambassadors in the marketplace, take corporate philanthropy to a Higher level? How do we align our wealth with our values to the extent that we advance from building up our company to building up the kingdom of God? How do we pursue kingdom philanthropy?
Given rampant cases of terrorism, starvation, domestic violence, and health-related pandemics, there is certainly no scarcity of viable civic and social causes for any company interested in philanthropy. While many of these epidemics are at national and global levels, when it comes to addressing victims at the local grassroots community level, it’s usually up to the neighborhood churches and other civic organizations to support individual victims and their families. Following are a few practical insights and pragmatic ways for aligning wealth and values
When we as Christian business leaders began to include formal support of God’s churches and Christian organizations within the context of our marketing plans and philanthropic outreach efforts, we will have begun the process of bringing corporate philanthropy and charitable giving to a Higher level.
When you use your wealth and marketing influence to help advance worthy causes, the Lord will reward you (Matthew 19:17; Galatians 6:9). Have the courage and fortitude to support churches and civic organizations in ways that are important and necessary, even if they are not always high profile and publicity generating.
By pursuing kingdom philanthropy, your company will serve as a model corporate citizen for others in the community and a catalyst for drawing more attention to, and support for, important charitable initiatives. And for this, you and your organization will also be tremendously blessed by God.
By aligning our wealth with our values and incorporating God’s kingdom principles, we become the magnificent trendsetters and market innovators God created us to be. Remember, God says we are the head and not the tail (Deuteronomy 28: 13). We should not be following the world; the world should be following us.