What is a community in business context?
A company’s area of business influence; includes all places or groups affected by a company’s operations.
What is mutual interdependence between business and community?
Businesses and communities rely on each other; both have expectations and provide benefits to the other.
What is a site community?
The geographical area where a company’s operations, offices, or assets are located.
What is a fence-line community?
The immediate neighbors living near a company’s facilities.
What is a virtual community?
People who buy from, follow, or interact with a company online.
What is a community of interest?
Groups that share common interests or goals with a company.
What is an employee community?
People who work for or near the company.
What do communities want from businesses?
Jobs, taxes, law-following, local support, public safety, education, arts, and help for the disadvantaged.
What do businesses want from communities?
Quality schools, infrastructure, transportation, fair taxes, health care, and safety services.
What is civic engagement?
Active involvement of businesses and individuals in improving communities.
What are three reasons businesses get involved in the community?
- To show corporate citizenship. 2. To gain local support or a ‘license to operate.’ 3. To build social capital.
What is social capital?
The trust, goodwill, and networks that help communities work together effectively.
What is community relations?
Organized involvement of a company with the community.
What are the main responsibilities of community relations departments?
Employee volunteer programs, sustainability reporting, stakeholder engagement, corporate giving, disaster preparedness.
What are the duties of a community relations manager?
Work with citizens and governments, create programs, manage donations, and promote volunteerism.
What are major community issues businesses support?
Economic development, housing, minority/women/veteran-owned businesses, and disaster relief.
What is an example of economic development?
AeroFarms turned an old steel mill into an indoor farm, creating local jobs.
What is an example of housing support?
Cisco Systems pledged $50 million to support affordable housing in Silicon Valley.
What is an example of supplier diversity?
AT&T’s long-running program supporting minority-, women-, and veteran-owned suppliers.
How do businesses get involved in disaster relief?
Businesses provide aid after disasters, terrorism, or war—builds brand loyalty and goodwill.
What is corporate philanthropy?
Voluntary giving of money, goods, or time by companies for public good.
What is the tax deduction for corporate giving?
U.S. companies can deduct up to 10% of pre-tax income for charitable contributions.
What are corporate foundations?
Nonprofit organizations created by companies to manage their charitable programs.
What is an example of corporate foundation giving?
GM Philanthropy donated $265 million to STEM education, traffic safety, and disaster relief.
