Lesson #4: Be a Good Corporate Citizen
Lesson #4: Be a Good Corporate Citizen
In 1987, Oprah created the Oprah Winfrey Foundation to strengthen education and empowerment worldwide and to it has personally donated millions of dollars. In 1991, Oprah campaigned for a national database of child abusers, which led to President Clinton signing of the ‘Oprah Bill’ in 1993. She founded Oprah’s Angel Network, which has solicited $27 million from viewers to date for scholarships and housing for the less fortunate. On a global scale, Oprah has created the Oprah Winfrey Leadership Academy for Girls in South Africa. And, for the first time ever, she is considering following in Paul Newman’s steps by licensing her name to raise money for charity.
Awarded the first-ever Bob Hope Humanitarian Award in 2002, Oprah has said that she believes “to whom much is given, much is expected.” While corporate giving is admirable in its own right, Oprah has demonstrated that it also makes good business sense.
Aside from the simple recognition of generosity, there are tangible business benefits to engaging in corporate philanthropy. Oprah’s social consciousness has become one of her bankable trademarks. A recent study found that 14% of the public prefers to support ‘good corporate citizens’, and when trying to decide between two similar products or companies, 40% consider corporate citizenship as the tie-breaking factor. Oprah has indeed differentiated herself from her competitors in this respect.
But, as Oprah prudently recognized, “it's not just about being able to write a check. It's being able to touch somebody's life”. Beyond simply monetary donations, 88% of young people say they believe that companies have a responsibility to support social causes. Oprah’s passionate plea in support of certain social issues is what makes her so appealing to so many people.
Oprah has recognized that one of the best reasons for funding charities overseas is because that is the new direction her business is headed. In 2002, Oprah launched the first international edition of O, The Oprah Magazine in South Africa. Her recent substantial contributions to education in South Africa will have improved her chances of generating a favourable response to her magazine. She has also helped ensure a profitable future by educating the next generation of O readers.
Oprah has also demonstrated that corporate giving can be a strong driver of customer and employee loyalty. Harpo Studios only experiences modest turnover (10% to 15%) and high stability at the top, with the average tenure of senior executives being ten years.
In a broader sense, by encouraging education, Oprah is helping to stop the cycle of poverty and improve standards of living around the world. She is helping to create the next generation of workers and entrepreneurs, who will be the instruments of future growth and can help lay the groundwork for future business opportunities.
“Making other people happy is what brings me happiness,” says Oprah. “I have a blessed life, and I have always shared my life’s gifts with others. I will continue to use my voice and my life as a catalyst for encouraging people to help make a difference in the lives of others.”
Lesson 4 Be a Good Corporate Citizen
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“What I know for sure is that what you give comes back to you,” says Oprah. Proof that philanthropy does not have to be at odds with having a good business sense, Oprah has managed to keep her sense of humility and compassion while still registering ever-increasing profits. Considered one of the most admired entrepreneurs in the world, Oprah has made a living not only amassing a sizeable fortune, but also giving it back.
In 1987, Oprah created the Oprah Winfrey Foundation to strengthen education and empowerment worldwide and to it has personally donated millions of dollars. In 1991, Oprah campaigned for a national database of child abusers, which led to President Clinton signing of the ‘Oprah Bill’ in 1993. She founded Oprah’s Angel Network, which has solicited $27 million from viewers to date for scholarships and housing for the less fortunate. On a global scale, Oprah has created the Oprah Winfrey Leadership Academy for Girls in South Africa. And, for the first time ever, she is considering following in Paul Newman’s steps by licensing her name to raise money for charity.
Awarded the first-ever Bob Hope Humanitarian Award in 2002, Oprah has said that she believes “to whom much is given, much is expected.” While corporate giving is admirable in its own right, Oprah has demonstrated that it also makes good business sense.
Aside from the simple recognition of generosity, there are tangible business benefits to engaging in corporate philanthropy. Oprah’s social consciousness has become one of her bankable trademarks. A recent study found that 14% of the public prefers to support ‘good corporate citizens’, and when trying to decide between two similar products or companies, 40% consider corporate citizenship as the tie-breaking factor. Oprah has indeed differentiated herself from her competitors in this respect.
But, as Oprah prudently recognized, “it's not just about being able to write a check. It's being able to touch somebody's life”. Beyond simply monetary donations, 88% of young people say they believe that companies have a responsibility to support social causes. Oprah’s passionate plea in support of certain social issues is what makes her so appealing to so many people.
Oprah has recognized that one of the best reasons for funding charities overseas is because that is the new direction her business is headed. In 2002, Oprah launched the first international edition of O, The Oprah Magazine in South Africa. Her recent substantial contributions to education in South Africa will have improved her chances of generating a favourable response to her magazine. She has also helped ensure a profitable future by educating the next generation of O readers.
Oprah has also demonstrated that corporate giving can be a strong driver of customer and employee loyalty. Harpo Studios only experiences modest turnover (10% to 15%) and high stability at the top, with the average tenure of senior executives being ten years.
In a broader sense, by encouraging education, Oprah is helping to stop the cycle of poverty and improve standards of living around the world. She is helping to create the next generation of workers and entrepreneurs, who will be the instruments of future growth and can help lay the groundwork for future business opportunities.
“Making other people happy is what brings me happiness,” says Oprah. “I have a blessed life, and I have always shared my life’s gifts with others. I will continue to use my voice and my life as a catalyst for encouraging people to help make a difference in the lives of others.”
Lesson 4 Be a Good Corporate Citizen
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