Both types of corporate philanthropy can be valuable to a business. Above, bins for charity donations at Mirdif City Centre in Dubai. Silvia Razgova / The National
Both types of corporate philanthropy can be valuable to a business. Above, bins for charity donations at Mirdif City Centre in Dubai. Silvia Razgova / The National

Ramadan is the ideal time for corporate giving



The holy month of Ramadan is a time of personal sacrifice, reflection and giving among Muslims. In addition to fasting and prayers, individuals are encouraged to be charitable to those less fortunate both at home and around the world. I believe Ramadan is also an ideal time for our business leaders to reflect on the importance of corporate philanthropy, and to ensure that charitable giving through their firms occurs in a strategic and coordinated way.

Broadly speaking, there are two main types of corporate philanthropy, each with their own characteristics:

The first is straight charitable giving. This is when a company decides to give back to the community by donating a proportion of its retained earnings to charitable causes that may be largely unrelated to the business. Whether it is a large bank providing funds for the construction of orphanages, or a small business donating to a natural disaster appeal, the most important aspect of this kind of philanthropy is the act of giving itself.

The second type is strategic corporate philanthropy. This is when a company dedicates a percentage, even if only a small one, of both human and financial capital towards a social, environmental or other charitable purpose that is true to the DNA of that company. This does not always have to be taken too literally – such as pharmaceutical companies donating medicines – but it does mean identifying causes that are consistent with the vision and values of that company. In contrast with straight charitable giving, the most important aspect of this type of philanthropy is actually the reason for the contribution over and above its value alone.

Strategic corporate philanthropy can be applied in different ways. It might be a charitable project, a new product or service, or an entire business line dedicated to a philanthropic purpose. A recent article by Forbes highlighted a diverse range of examples currently running in the United States, including a pet food company providing free meals to animal shelters, a technology company marshalling programmers to build better websites for not-for-profits, and a construction business assembling teams of qualified volunteers to build or refurbish community facilities. In each of these examples, the company identified a cause related to its particular capabilities and values, creating a philanthropic initiative that helped its stakeholders understand what that business considers to be important.

Both types of corporate philanthropy can be valuable to a business. Straight charitable giving enables a company to support important causes, give back to the community and enhance its reputation with a minimal investment of time and human resources. However, by identifying causes that are aligned with the vision and values of a business, strategic corporate philanthropy actually reinforces a company’s identity, in the minds of its employees and external stakeholders, in a way that charitable giving alone does not. As a result, many businesses are increasingly doing both.

It is also important for businesses engaged in strategic corporate philanthropy to involve their stakeholders in the activity. This means ensuring that employees, customers and also the government are aware of a company’s philanthropic initiatives and, where possible, engaging them in the process. This inclusiveness can generate pride, boost morale and create a unique sense of shared purpose between a company and its most important stakeholders that can multiply the impact of the philanthropic initiative at hand.

While our culture discourages boasting about one’s personal charitable endeavours, companies engaged in strategic corporate philanthropy have a duty to demonstrate transparency in these activities in order to explain what they are doing, the reasons why, and how others can get involved. As the experience of Ramadan teaches us, there is something truly unique about practicing generosity with others, rather than in isolation, that creates the collective sense of goodwill that we associate with this time of year.

The traditional phrase used during this period, Ramadan Kareem, literally wishes people a generous Ramadan. More than a mere greeting, this is a call to action that spans every aspect of our lives, including our business interests. With this in mind, I encourage companies across the region to use this time, every year, to reflect on their own existing philanthropic programmes and consider how to make them even more meaningful in the year ahead.

Badr Jafar is the founder of the Pearl Initiative and chief executive of Crescent Enterprises

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Citadel: Honey Bunny first episode

Directors: Raj & DK

Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon

Rating: 4/5

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The biog:

From: Wimbledon, London, UK

Education: Medical doctor

Hobbies: Travelling, meeting new people and cultures 

Favourite animals: All of them 

MATCH INFO

Newcastle United 1 (Carroll 82')

Leicester City 2 (Maddison 55', Tielemans 72')

Man of the match James Maddison (Leicester)

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Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Rating: 2/5
 

Russia's Muslim Heartlands

Dominic Rubin, Oxford

TEACHERS' PAY - WHAT YOU NEED TO KNOW

Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:

- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools

- average salary across curriculums and skill levels is about Dh10,000, recruiters say

- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance

- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs

- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills

- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month

- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues

Empire of Enchantment: The Story of Indian Magic

John Zubrzycki, Hurst Publishers

How to donate

Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200

MATCH INFO

Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid

When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

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Company name: Yeepeey

Started: Soft launch in November, 2020

Founders: Sagar Chandiramani, Jatin Sharma and Monish Chandiramani

Based: Dubai

Industry: E-grocery

Initial investment: $150,000

Future plan: Raise $1.5m and enter Saudi Arabia next year

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Infobox

Western Region Asia Cup Qualifier, Al Amerat, Oman

The two finalists advance to the next stage of qualifying, in Malaysia in August

Results

UAE beat Iran by 10 wickets

Kuwait beat Saudi Arabia by eight wickets

Oman beat Bahrain by nine wickets

Qatar beat Maldives by 106 runs

Monday fixtures

UAE v Kuwait, Iran v Saudi Arabia, Oman v Qatar, Maldives v Bahrain

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Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.