Canadian banks are Canada's largest corporate taxpayers and
largest corporate donors. According to
the Canadian Bankers Association, in 2007, seven of Canada's Schedule 1 banks
donated $197 million to charities in Canada and around the world. These contributions support education, youth,
and health care. The banks also support
amateur athletes, the arts and community events. For example, the Bank of Montreal is the
principal sponsor of Skate Canada and is a founding sponsor of the Kids Help
Phone.
Because banks are the largest taxpayers in Canada, their profits
help build roads, schools, hospitals and many other governmental
activities. In addition, banks are also
committed to helping the environment.
Resource to read: http://www.cba.ca/index.php?option=com_content&view=category&id=62&Itemid=54&lang=en
Do you think that companies should give money to
charities? Why or Why Not?
Do you think that companies should be obliged to be
front-runners in helping the environment?
Why or Why Not?
Source: Canadian Bankers
Association www.cba.ca
BUSINESS: LEADERSHIP AND ENVIRONMENT
ReplyDeleteAlex Westcott
Ethical Dilemma
I think that companies should continue to donate money to charities. However, one must question the intentions of these large corporations. They are not donating solely for the purpose of being charitable and kind hearted. “Companies’ expectation of what they might get in return for a donation is changing”, said Rose Meissner, president of the Community Foundation of St. Joseph County. In the past, companies would simply give to charities for the sake of generosity. This may no longer be the case. Corporations are now seeking ways that donations will help “pay off” in terms of customer attention and public relations. Georges Enderle, an international business ethics professor at the University of Notre Dame says “Having a self-serving reasons for giving a donation isn’t necessarily a bad thing, since the company is still helping the community. […] Even in private life, we do not have just one motivation when we do something. If there is a win-win situation strategy, I think that’s acceptable.” I cannot help but agree Georges Enderle. Companies are still donating large amounts of money, and are helping the community regardless of their self-serving reasons. As it was stated in the dilemmas introductory, seven Canadian Schedule 1 banks collected and donated $197 million. Therefore companies should continue to give to their communities.
I also think that environmentally friendly businesses will be more successful in the long run. Many businesses are now changing their processes to be a part of the eco-friendly world we are becoming. It is true that the going green transition can be both time consuming and expensive, but it can save businesses lots of money in long-terms. Consumers are becoming more attracted to socially and environmentally responsible corporations. Therefore it has become much more important for businesses to make environmentalism part of their brand.
I agree with your opinion on both questions. The point you raised about having ulterior motives for donating to charities not necessarily being a bad thing is a very good one, and makes me think. What I understand from your point is that even if a business wants to help the community for the wrong reasons, it is OK because they are still helping the community. I think it is also very true that we are becoming an eco-friendly world.
DeleteYes, I do think that companies should give money to charities. This is because it benefits the charity and the company. I do not think that most businesses would donate money to charities if it did not benefit them, but does that really matter? Money is donated to charities because it benefits both parties. Decisions in life are made for more than one reason. However, I would like to know companies that donate money to important causes just because they care. A big responsibility of any reputable business is to support the community. This shows that it has good ethics and morals. People are more likely to be loyal customers of a business that they feel is connected with the community and its members.
ReplyDeleteI think that any good business should feel morally responsible for helping the environment. Actions such as purchasing green power, becoming carbon neutral relative to energy consumption and transportation emissions worldwide, and donating to environmental projects make a large and positive difference in the community. Any business that wants a good reputation should strive towards such goals. Becoming environmentally friendly may be costly at first, but eventually will save a business money in the long term. For example, sending electronic documents and notices instead of using paper will save a business a lot of money because the need to purchase paper has been reduced. Many consumers are also more willing to buy products from an environmentally friendly company.
I strongly support your idea about how the business should be connected with the community to gain customer loyalty. Also your point that if the companies donations did not benefit them, i believe that even if they were not benefitted they might do it out of good will, although it would be very unlikely because it would be costly to the company. All of this has to be taken in the context, that comapnies must be profitable to ba able to donate.
DeleteI believe that the companies themselves shouldn’t give money to charities unless there is an alternate motive. I believe this because the purpose of a business is to make as large a profit as possible for its share holder. If the share holders want to give a part of their dividend to a charity that is okay but, the business as a whole shouldn’t because it is decreasing the amount of money the share holders get. However if there is another reason to donate like improving the company’s image, or encouraging consumer to purchase the product they should. For example on August 8th Dairy Queen is giving 10 cents to sick kid’s hospitals all around the country for every blizzard purchased. Doing this Dairy Queen improves it image and increases prophet by attracting a large amount of extra consumers. If they are donating money that way it is acceptable.
ReplyDeleteHowever I think companies should invest in some green technology. I believe this because in the end green technology is almost always profitable. This is because when they reduce the amount energy something uses they decrease the amount they have to spend on electricity. However if it does not help their company in any way, the company should not be investing large amounts of money to help the environment
But banks are very profitable. What if they gave money at the end of the quarter of the market with excess cash. This wouldn't reduce the investors in a negative if its excess. The banks in Canada and North America generally do very well so its no question they have extra money. So dont you think some if not all of that extra money should go to a good cause? Its like if you just bought a sandwich and had some money left over for a drink. You can spend some left over money or extra money on the drink. That probably wasn't the best analogy but its all I can think of. If banks did have that extra cash for a charity savings fund that they made would it still be bad for investors?
DeleteIt should not be expected or mandatory for businesses to support charities however it is a good business strategy. It is a good strategy because it develops strong public relations and image. It’s also a good strategy because it is a form of advertising and when customers are aware that a company is giving money to charity, they may choose to make purchases or perform other actions at the company. I believe companies should give money to charities because it shows that they are giving back to their community.
ReplyDeleteI also don’t think that it should be expected for a company to be a front-runner in helping the environment. If there is a company polluting the environment, however, and not concerned about it, then the company will not be very attractive to consumers. Consumers are more likely to purchase goods/services from a company that gives back to the environment rather than one that does not. A green business is also beneficial because with environmental practices and energy efficient equipment, the company will decrease costs and increase profit.
In conclusion, although businesses should not be obliged to support charities and be front-runners in helping the environment, both are good business strategies for improving public relations and their bottom line.
Your argument is very well thought out, but I disagree with you. Usually businesses that do things like produce products constructed of recycled materials have goods that are often more expensive than those that are not. Companies like these remain popular. For example, on May, 28, 2013 Walmart Stores Inc. was charged with six acts of violating the Clean Water Act. However even though this occurred, Walmart remains to be a very popular store for consumers.
DeleteI do believe companies should give money to charities, if they are profitable. I think this because it benefits the charity and the company because it would get a better reputation. The money that is donated to this charity is always used for good reasons, for example, helping the people who suffer from hunger, handicapped people and looking out for the environment. I would like to think that these companies don’t do it only to get a good reputation; I hope they do it because they really care. Also to the companies advantage this act might attract more customers and make their business more successful. By doing this, the company will be more connected to the community and so customers will be more loyal towards the company. It could be debated that the company should maximize profits for its shareholders and that charitable giving should be a decision for the shareholders.
ReplyDeleteI do believe that companies should be front-runners in helping the environment, in the case they cannot fulfill this objective due to costs they should either not operate or the government should subsidize them while they adapt their operations. They should invest money in caring for the environment and community. Companies don’t operate outside the environment; rather they operate inside the environment. So companies in general should be very careful with what they do to the environment.
I don't think that this is a fair question. Do I think that companies should give money to charities? Yes, but not all companies can afford that. I also believe that it is 100% the companies choice to as whether or not they should give to charity. If all companies had to, then a lot would go bankrupt. I believe that if a company has the funds to donate, then yes, they should give money to charity. If they don't have the funds to donate, they need to put their own needs first. For this next question, no. I don't think that companies should be obligated to be front runners in helping the environment. Many businesses can't afford having to change. If they are given money by the government, known as subsidy, then it may become an option for a company. I don't believe that any private businesses should be forced to donate if it will jeopardise their livelihood.
ReplyDeleteI think companies should give money to charities. It shows they have ethical and moral consideration for their communities. It also gives companies a better reputation when they donate to charities. Giving to charities helps the world; I think companies should give to charities to help better the world. However, not all companies can afford to give to charities.
ReplyDeleteIn my opinion, companies should be obliged to be front runners in helping the environment. Companies have the power and resources to help the environment, so why shouldn’t they? If companies put more time, effort, money, and resources into making the world and environment a better place, our Earth will be much healthier. Companies already are polluting the world by producing gods and services, so it is only fair to give back to the Earth and try to remedy what they’ve done. If a business can, they should help the environment.
Yes, I do believe the banks and companies should give money to the charities. Banks make huge amounts of income and as long as they are not pulling a Ponzi scheme to pay for the charity its is the right thing to do. Kids deserve a chance to grow up well like I have. It is the right thing to do. The banks may lose money but you lose money when you buy any unnecessary items. It is not that different for banks and companies. Now maybe they are doing this for popularity maybe they are not. If they do this for popularity then that is a good still. It may boost them but it boosts the children’s lives too.
ReplyDeleteCompanies also do need to be front-runners in the environment movements. People look upon companies as role models. If a company is green and they make a product that people like then it becomes a trend and in a act to fit in people become green. As long as this trend lasts then the world will be eco friendly. If you look at the 60’s during Vietnam in the U.S it was like that because there were a lot of popular anti war songs. The relaxed trend and the songs caused anti-war protests. The Beatles promoted peace and the 60’s has had the effect of the global trend the Beatles and others like them gave off. Therefore, if your company tries hard to work to be green then it will leave a mark through trending.
In my opinion, I do believe that it is a very smart decision for Businesses to give money to charities. With doing so the businesses can gain and accomplish things like free publicity, introduce a new consumer audience to their product and earn a new reputation. Providing money for non-profit organizations also benefits the community. There should not be an obligation for businesses to be a part of charitable activities, but it does form positive outcomes for the company if they choose to become involved. Even if participating in charitable events does not improve the popularity of a business, donating money to charities should be a part of their ethical and moral thinking and decisions.
ReplyDeleteI strongly believe that companies should be obligated to be front-runners in helping the environment. The production of products use the earth’s resources, if we do not replenish more than we consume they will run out. Every business should try to do something to improve the quality of the environment. It may be expensive in the short term to do things like use recycled materials, but in the long term it will be worth it. Businesses consume a large amount of the earth’s resources, therefore I think that it should be expected that they do things to better the environment. It will be costly, performing things like using greener technology, eco-friendly materials and planning activities for the environment but if it ensures a more sustainable future then there is no reason as to why most business should not be on board.