The famously used quote “to whom much is given, much is also expected,” describes the term philantro-capitalism. The oxford dictionary terms the word to mean “the philosophy of applying capitalist style objectives and criteria to directing philanthropic enterprises”.
The business world either small scale or large scale, is ruled by men and women who harden their hearts and put all efforts to grow their empire. It might seem quite absurd to the common man to introduce the concept of philanthro-capitalism. Of course, it is quite great to make money and to save. The accumulation of wealth is what business is all about. However, just as it is great to plough back profit, it is also great to give out part of profit earned to philanthropical means.
The concept of philanthrocapitalism can be viewed from two ways.
First, from the view of the philanthropist who in his ways help and aid, while yet figures out how to earn money. Although, most people have bias opinion on this, as making money from doing good contradicts the purpose, if charity is only given out to earn profit. However, if critical thinking is made, a source of capital must have been put into the works of a philanthropist. If he can earn profit as a reward of his hard labor and further invest to earn more, why not? This is however not our focus.
The second angle is making money and doing good. A large number of the most successful men in business are involved in one, two or more charity organizations. There are several fundraisers organized for varied causes. In Nigeria today, philanthrocapiltalism is foreign to the business world. All sectors of the economy focus on how to improve and grow while philanthropical works are left to the women affairs division or NGO.
The use of profits and earning from business deals to improve personal life and standardize living can also be used to do good. There are so many children without homes and so many governmental organizations for the less privileged that needs additional monetary and resources support. Philanthrocapitalism is an avenue for investment in the poor to alleviate poverty. Bill Gates foundation contribution to Africa is one of the pacesetters for charity and giving worldwide. Yet, he remains one of the richest people in the world. Contrary to the believed, giving is losing; giving in fact causes an increase for wealth.
It does not matter how small your business is, an investment in philanthropical works and hence philanthrocapitalism, is worth more than a tenfold business profit deal.
Williams Precious Jesuedise-emi is a nineteen year old content writer, screen writer and poet. She has written for several blogs and is an unpublished author of several literary works. She is available for discussions via email@example.com | Source: Boss.ng