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As a publicly traded corporation, how can Home Depot justify budgeting so much money for philanthropy? What areas other than the environment, disaster relief, affordable housing, and at-risk youth might be appropriate for strategic philanthropy by Home Depot?
Home Depot can budget such a large amount of money toward philanthropy for the same reason they can spend so much on advertising. While many customers may be urged to visit Home Depot due to the latest commercial, circular or sale, many customers are becoming more socially aware and prefer to spend their money at businesses that share their beliefs. “"Doing well by doing good" has become a familiar motto in the business community, which acknowledges that the motivation to "do good" is at least partly self-serving” (Knowledge@Wharton, 2007, para 6).
Another area that Home Depot could make a big difference is in education. While they have done a lot of work with low-income families, more can be done within traditional public schools. Aside from just building playgrounds, Home Depot could expand their in-store clinics and make them mobile, sending them to the different schools in the area. They could teach the children to plant a garden, build projects and perform common household repairs. Not only would this benefit the communities, it would also create customers for
Home Depot can budget such a large amount of money toward philanthropy for the same reason they can spend so much on advertising. While many customers may be urged to visit Home Depot due to the latest commercial, circular or sale, many customers are becoming more socially aware and prefer to spend their money at businesses that share their beliefs. “"Doing well by doing good" has become a familiar motto in the business community, which acknowledges that the motivation to "do good" is at least partly self-serving” (Knowledge@Wharton, 2007, para 6).
Another area that Home Depot could make a big difference is in education. While they have done a lot of work with low-income families, more can be done within traditional public schools. Aside from just building playgrounds, Home Depot could expand their in-store clinics and make them mobile, sending them to the different schools in the area. They could teach the children to plant a garden, build projects and perform common household repairs. Not only would this benefit the communities, it would also create customers for