So Facebook founder Mark Zuckerberg has announced that he will give away most of his fortune to charity. That's no mean feat given that the man is estimated to be worth nearly $7 billion.
In doing this, he joins other billionaire charity champions like Bill Gates and Warren Buffett. What lessons can we draw from this? And do these people serve as role models? The answer is yes and no, it all depends on the strategic insight.
Harvard Business School professor Rosabeth Moss Kanter says that companies wanting to go down this direction can take some important strategic lessons from their generosity. It's thought out and planned, it's not spontaneous.
Number one is that you have to be authentic and not look like you're trying to buy favors. Secondly, it has to be well timed. If you are the first there, it doesn't like you are just trying to follow everyone else. Also, activism is more important than altruism. The company actually has to be doing something, not just signing checks. And finally, the companies doing this need a few clear areas of focus. They can't just hand out cash everywhere.
Important lessons. Strategic generosity puts companies in a strong position.
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