The Impact of Corporate Philanthropy on Optimising Unequal Allocation of Social Resources

Department of Social Work, College of Humanities, Inner Mongolia University of Technology, China

^* Corresponding author: 202111002032@imut.edu.cn

Abstract

Corporate philanthropy is an effective means to help society reduce the various inequalities phenomena and promote social justice. The present research surveys about this topic focus on corporate donations or management but pay less attention to philanthropy methods and corporate foundations. The establishment and development of corporate foundations have become indispensable means for enterprises to engage the philanthropic activities. Therefore, this paper explores the conceptual development, establishment motives, objectives, operational process, and ultimate effectiveness of corporate philanthropic foundations to address the problem of unequal allocation of social resources. In this research, taking the Tencent Public Philanthropy Foundation as an example, and finds that a joint public welfare approach can better promote the establishment of charitable projects. For instance, Tencent Philanthropy Foundation has partnered with One Foundation, the former provides technical and financial support for future classroom projects, while the latter provides professional services and follow-up. The findings suggest that this joint public welfare collaboration is worthy of being used widely by corporate welfare foundations, because the collaboration can play a positive role due to a clear division of labour and professional means in philanthropy projects, and it also could be a new corporate philanthropic strategy in the future.