Community Engagement and Investment by Alan S. Gutterman

Author:Alan S. Gutterman
Language: eng
Format: epub
Publisher: Business Expert Press
Published: 2021-01-15T00:00:00+00:00

Developing a Community Investment Strategy

Corporate philanthropy has a long tradition and companies have often been attempting various types of community investment. While these efforts are generally well meaning and have led to significant improvements in well-being in the communities in which the companies are operating, there are also signs that community investments fail to fulfill their full potential, for either the company or the community. Given that many investment projects involve significant amounts of resources, including time and goodwill, falling short on results means that employee morale may suffer and that community members lose faith and trust in the company. One list of the reasons why community investments may not achieve the goals established at the beginning included the following factors:13

• Limited understanding of the often complex local context

• Insufficient participation and ownership of by local stakeholders

• A perception of “giving” rather than “investing,” including a lack of clear objectives

• Detachment of the activity from core business strategy and competencies

• Responding to local requests in an ad hoc manner

• Lack of professionalism and business rigor

• Insufficient focus on sustainability

• Provision of free goods and services

• No exit or handover (to the community) strategy

• Overemphasis on infrastructure and failure to address skills and capacity building

• Lack of transparency and clear performance criteria

• Failure to measure and communicate results

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