Doing Well While Doing Good

Philanthropic Economics is a new business strategy in which businesses of all sizes are entering into partnerships with consumers. More and more companies recognize that environmentally or socially conscious reflections in their advertisements and public relations campaigns are having a positive effect on sales and company image. From the examples presented, it is obvious that social responsibility is no longer an issue defined as bleeding-heart-liberalism. It explains cause-related marketing-what it is, how it works, and how the private sector can utilize it to make money and at the same time fashion a better society.