Asked by Shakira Robertson on May 18, 2024

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_____ is the synergistic and mutually beneficial use of an organization's core competencies and resources to deal with key stakeholders so as to bring about organizational and societal benefits.

A) Social responsibility
B) Business ethics
C) Corporate philanthropy
D) Strategic philanthropy
E) Cause-related marketing

Strategic Philanthropy

This refers to the practice of companies and individuals directing their charitable activities towards causes that align with their own goals and values, maximizing the impact of their donations.

Core Competencies

Fundamental strengths or abilities that a company or individual possesses, which are central to its identity and success.

Organizational Benefits

Advantages or improvements experienced by an organization, such as increased efficiency, employee satisfaction, or enhanced reputation.

  • Understand the concept of strategic philanthropy and its application in developing mutually beneficial relationships with stakeholders.
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SJ
Serenia JonesMay 18, 2024
Final Answer :
D
Explanation :
Strategic philanthropy involves the use of an organization's core competencies and resources to deal with key stakeholders for both organizational and societal benefits. It differs from traditional corporate philanthropy by strategically aligning with the company's objectives and creating shared value for both the company and society. Social responsibility refers to the obligation of a company to act ethically and contribute to the well-being of society, while business ethics is the study of how businesses should behave ethically. Corporate philanthropy involves charitable donations, and cause-related marketing is a marketing strategy where a portion of sales is donated to a specific cause.