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"Philanthropy is no longer a periphery operation, no longer a nice thing to do. It is increasingly an imperative strategy that is central to business. That will be the mindset for this century."
Key Takeaways:
- It is imperative that we combine resources, across companies and sectors, to reach critical mass and deal holistically with tenacious societal problems.
- Collaborations fall along a continuum of strategic partnerships, starting with basic philanthropy to transactional relationships to integrative partnerships that combine missions and really hit the partners' sweet spots. Companies should consider creating a mixed portfolio of different kinds of relationships with their nonprofit partners.
- Alliances are all about creating value. Partnerships between nonprofits and corporations should be generating both higher social and economic value. For companies, there is value in all aspects of the business, including in the relationships with each stakeholder group.
- It is essential that the value be a two-way flow. The partnership has to be seen as a fair, equitable exchange for each side.
Highlights Video:
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