Ram V Chary: Why Adopt Philanthropy in Business

Ram V Chary: The Wisdom in Business Philanthropy

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Ram V Chary explains that philanthropy is a big part of the business and that business owners should incorporate it into their culture. Businesses will often give back to the community to grow their presence further. However, many businesses do it because they believe in it.

Some people might think that philanthropy is just a way for businesses to get tax deductions, but it doesn't always work like that. Ram V Chary mentions that some businesses never claim the deductions they could get for their philanthropic deeds, so it's not about making money right away but rather doing what you think is best.

When it comes to giving back, the size of a business does not determine the impact it can have on its community. Small gestures like donating food on Thanksgiving or buying coats for homeless individuals can make a big difference in someone's life.

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However, some companies take their philanthropic efforts to a whole new level by donating millions of dollars in aid to multiple causes. These large-scale acts of kindness can help bring about meaningful change for needy communities. Regardless of the size of the gesture, the most important thing is that businesses are willing to step up and make a difference in the lives of the less fortunate.

There are some great examples of philanthropy from renowned companies. For instance, Target donated $1 million to the Red Cross following Hurricane Sandy's hit on New York and New Jersey. Mattel also gave scholarships to girls in developing countries who want to attend universities. PepsiCo donated $500,000 to help rebuild the Louisiana flood zone.

Moreover, Ram V Chary points out that philanthropy is a great way for businesses to connect with local communities. It can also help these businesses build relationships with other businesses and be an excellent way to get publicity, leading to more customers.

What other benefits of philanthropy to businesses can you think of? Does your company give back? If so, how? If not, how would you want your company to give back? Which cause would you like to support?

Veteran business leader Ram V Chary has released several blogs on business and leadership. Check them out by clicking this link.