RELATIONSHIP BETWEEN BUSINESS EFFICIENCY AND CORPORATE PHILANTHROPY

The goal of this article is to explain the relationship between business efficiency and corporate philanthropy. Business efficiency and corporate philanthropy are influenced by different factors. These factors are economic, political, technological and ethical. Values of entrepreneur (management of the enterprise), ethical basis of all people in the enterprise are very important for business efficiency. Business efficiency is the complex category. The efficient enterprise is not only privately profitable, maximizing the private economic benefit of the entrepreneurs (shareholders), the efficient enterprise is useful for the region and the society as a whole. The social utility of the enterprise is helpful for the private business efficiency on the other side. The convergence of "interests" of businesses and non-profit organizations is the important trend today. The corporate philanthropy is developed. On the one hand, enterprises cannot pursue only economic interests, significance of the social context of their operation increased. On the other hand, non-profit organization representing social interest has to be efficient too. The cooperation between efficient organizations is possible. The opportunities of this cooperation are different. The corporate philanthropy has either a direct financial form (individual grant, corporate foundation) or the specific indirect form of corporate philanthropy (corporate volunteering). The results show that the business efficiency and corporate philanthropy are interrelated and influence each other. DOI: https://doi.org/10.15544/ssaf.2014.0