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ir employee behavior worldwide and reflects their core values in terms of social and environmental responsibilities. Philanthropy has been incorporated into the business operation of Novartis and is therefore not viewed as a separate function.

iii). Societal Marketing
 
Kotler et al. (2003) in examining the evolution of the various marketing concepts purported societal marketing to be the way forward for businesses in their marketing thrust. It's a means whereby which organizations should not only aim to determine and satisfy the needs of its target market but to do it in such a way where it will improve their wellbeing as well as those of the general society. He proposed that businesses should create a balance among their budgeted profits, customer wants and society's interests.
 
iv). Strategic Philanthropy
 
This term has been defined by McAlister and Ford (2002) as the:

“synergistic use of organizational core competencies and resources to address key stakeholders' interests and to achieve both organizational and social benefits”(p.689).
 
Large companies have instituted corporate foundations, employee committees responsible for charity as well as staff functions dedicated to philanthropic activities. For instance, the Bank of America Foundation has contributed in excess of $90 million and Ford Motor Company Foundation more than $97 million to benevolent activities (McAlister and Ford, 2002).
 
A Conference Board Survey of 463 companies in the United States of America (USA) indicated that those organizations that approached philanthropy in a businesslike manner benefitted from improved image and increased employee and customer loyalty(Schwartz and Smart, 1995 cited in McAlister and Ford, 2002).
 
Strategic philanthropy, however, does not include only benevolence such as donations but also philanthropic efforts geared towards employees as well as customers, suppliers and societal needs (McAlister and Ford, 2002).

vi). Corporate Social Responsibility
 
Hill and Jones (1998) posited that corporate social responsibility is:
 
“the sense of obligation on the part of companies to build certain social criteria into their strategic decision making.”
 
Companies should make ethical decisions which will benefit the welfare of the society. These courses of action should then be included in the organization's strategic direction. Hill and Jones (1998) believed that being socially responsible is the right way for companies to behave especially since they need to retain the support of stakeholders. Any deviation from this principle could be opposed by the stakeholders, for example, if the community thinks the company is having an adverse effect on the local environment, they may campaign against the building of new facilities.

Another perspective is that corporate social responsibility can provide economic benefit to an organization. Hill and Jones (1998) cited the work of Edward H. Bowman (Wharton School, University of Pennsylvania) who purported that the social behavior displayed by a company impacts the price of its stock, benefits the stockholder and attracts investors. Halloway (2004) supported the claim that corporate social responsibility is recognized as an important management strategy and this he believed supports the 本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。