Meaning Of Philanthropy

Definitions and Meanings The meaning of philanthropy is vague. The word ‘philanthropy’ is often used to describe different purposes. It has been used to describe charity, donation, giving and commitments to help with tragedy relief, decrease poverty and development in long term or in the short term. The difference among charity, philanthropy and aid from the societies and universal development agencies are difficult. The world philanthropic come from Greek word Philanthropia which, essentially means the love of humankind or mankind (Philanthropy [word Origin, C17], 2016). Philanthropy at the time of archaic Greeks meant people love for their neighbors, their lover and regarding not merely for relatives and friends but in general for overall

It includes cash contributions, donations of products and services, volunteerism, and other business transactions to advance a cause, issue, or the work of a nonprofit organization” (The Council on Foundations, 2012). Nevertheless, an ordinary denominator of the many definitions is the donation of corporate resources to backing arrange efforts intended for defining valuable social purposes. the sources contributed could be money, goods, time, training and use of facilities or services habitually over an extended period of time and with consideration of a defined objective (LEISINGER, 2007). Philanthropy is continuously transforming and will continue to progress. Research on the field of Philanthropy and interviews with practitioners from the field of disclosing the following Point of view:
1. “Pressure to align Philanthropy with the business is increasing”: In order to attain business success, these unrestricted actions need to be designed according to distinctly defined and applied instructions. hence it is necessary to specify goals in advance and to contain philanthropic actions into the whole accounting system (The Council on Foundations,

The cause of giving or donating a charity for instance: Happiness of one person then he feels when knowing that another person’s life has been improved. There for Philanthropy is a good for preference exist. Corporations produce and transfer altruism to individuals in order to satisfy the existing market demand. This demand may originate from shareholders; employees as well originate from customers. Consumers seeking altruism may accept to pay premium for the product of companies when knowing that the corporation participate in philanthropic activities. This premium is the price for consuming altruism. The same applies to shareholders, who may accept a lower return on investment and employees who may take lower wages.to customers, shareholders and employees simultaneously deliver the “good” call altruism by the company. the altruism supply of companies are explained by the fact that firms may be more impressive in producing this good than nonprofits and governments. This effectiveness advantage is due to several facts Firstly, companies may earn economies of scope among their typical product and the altruistic product. Secondly, the packing of the private and public better increases the sum different value and therefore reduces the free riding problem on other consumers’ contributions to that public good. Thirdly, dissimilar of the government, a