Business Studies

INTRODUCTION

"Philanthropy can often be the most cost-effective way for a company to improve its competitive context, enabling companies to leverage the efforts and infrastructure of non-profits and other institutions." (Porter and Kramer, (2003), pg. 35)

Corporate philanthropy means funding of non-profit organizations or charitable or other social causes by big corporate houses. These corporate houses do it as their corporate social responsibility which is relatively a new concept for the business class.

TOYOTA AND ITS PHILANTHROPIC APPROACH

Brand Toyota is not left aloof to this corporate philanthropic approach. One of its key segments on the home page of its official website, talks about philanthropy whereby it's quoted as "Doing good work where we work". (www.toyota.com)

Simply stating Toyota is concerned about well-being of its employees as well as the society in which the organization is situated. It has its roots in the baseline of the company which states that an auto company can also be a vehicle for change. To strengthen it, "the company supports the programs focused on environment, education and safety initiatives which ultimately help strengthening diverse communities across the globe - for today and for the future." (www.toyota.com)

Toyota has come a long way in terms of philanthropy activities since the year 2008, when it joined hands with an organization, National Audubon Society. Together they launched a project called 'Together Green' where by 20 million dollars were to be funded into the project over the next five years of time. The project has three main aspects;

"Lead Green: A Conservation Fellowship program to recognize and nurture the environmental leaders of tomorrow.

Grow Green: Innovation Grants to support creative projects that contribute to significant gains in habitat, water and energy conservation.

Go Green: Volunteer projects at sites across the country to create a call to action for real conservation impact in diverse communities" (www.toyota.com)

The company dedicated a website for Together Green which emphasizes on an interactive basis and encourages people cutting across the genre of all ages to participate and being all the more involved. During the same year of 2008, the company launched another program called 4-H where in it joined hands with an organization named National 4-H Council to support the 4-H2O program. The program concentrates mainly on water conservation, which is a major environmental issue. The program 4-H2O not only emphasizes on the water conservation but also it will assist millions of kids who participate in the science program nationwide. "The initiative includes: New environmental curriculum, "Exploring Your Environment" 4-H2O online, an interactive website." (www.toyota.com)

Toyota and World wildlife fund have entered into a partnership of preserving the Galapagos Islands for the last six years. The aim of Toyota is to safeguard one of the most sophisticated and bio-diverse places on the earth. "Through world wildlife fund it has invested about 1.75 million in renovating the fuel handling terminals, establishing a hybrid renewable energy system, an oil recycling program, an outreach campaign on renewable energy."(www.toyota.com)

CONCLUSION

Toyota strives hard to maintain a balance where they live and work. It just doesn't concentrate only on the environment but strives hard in helping the local communities by preserving the environment, focusing on education and safety of the people. It also caters to diverse communities and committed in supporting the areas of needs such as food and housing in the areas where it operate upon.

How does philanthropy by corporations counter the social criticisms of marketing?

"Today no CEO worth his or her salt would fail to recognize the moniker corporate