The real estate is a capital-intensive industry. As a way of corporate social responsibility, some of the companies have taken upon themselves to provide housing for the less privileged. They put aside some amount of money from their profit to build low-cost housing for people living in the slums. Some of the management of the real estate business empathizes with these slum dwellers, especially in the third world countries. They do not imagine someone can live in a makeshift house yet they spend millions in building and construction of residential and commercial estates. Why not take some of the profits to mind the welfare of the less privileged.
The general look of the philanthropy may seem that they have a lot of money to waste but the bottom line is, yes, they make millions of dollars in profits but due to the exchange rates you will find that a small percentage of their income will change lives of millions of people. From a religious background, the saying goes. “a giving hand gets more” this religious philosophy is a plus to people living below the poverty line.
How will you know if a real estate company participates in this real course? Visit their website and find it in Fort Lauderdale, Florida for example. They have pictures and audiovisual content to prove their participation in extending a helping hand to save people from living in such deplorable conditions.
At one point, some nations make it a policy for foreign investors to use some percentage of their profits in donations, sponsorships, and partnerships. The real estates are not an exception. They may choose on whichever sector they would wish the money to be used depending on priority and immediate needs. You cannot build houses when there is drought or a natural disaster like earthquakes. Some of the projects are long term while others need immediate attention.
Business philanthropy is a win-win situation. As they reap profits, the locals benefit from employment opportunities, infrastructural development, scholarships, and partnerships among other donations.
Do you just decide to carry out a social responsibility program in a country? Of course, no. Each country has its own rules and regulations of funding. In most cases, you channel the funds through religious organizations, Non-Governmental Organizations (NGOs), Civil Society organizations (CSOs), Community base organizations (CBOs) self-help groups among other institutions. You have to carry out your research o prove the effectiveness and efficiency of this entities since some of them are out to take advantage of the situation. In most cases, this is common among individuals for there is no proper channel of accountability and responsibility in the financial help.
It is not a must you offer financial support, you can also opt to offer the material donation. There is hunger, why not buy food products and use the local administration to donate to the needy. Business philanthropy comes in handy to improve the welfare of the less privileged in all spheres. Although researchers admit if you overdo it, it can create a habit of laziness which affects overall productivity of the population.