Oracle Corporation Strategic Philanthropy
Oracle Corporation Strategic Philanthropy
Oracle Corporation is listed among the Fortune 500 companies. With more than 420,000 customers and deployments around the globe, Oracle Corporation offers cloud applications, platform services and engineered systems. In 2015 Oracle Corporation was named the second largest software maker by revenue after Microsoft Corporation.Over the years it has prevailed as one of the technology companies among others.Year-in year out Oracle Corporation has worked to improve the quality of life in the communities where it carries out its business. For instance in the financial years 2013 and 2014, Oracle Corporation donated 21 million US dollars in cash to non-profit organizations to advance education, protect the environment, increase opportunity, and enrich community life.
As part of Oracle Corporation commitment to education, the corporation helps non-profit organizations around the globe to make students have keen interest in computer science and science, technology, engineering, and mathematics (STEM).Notable examples are the Alice program and Khan Academy. Alice program is free program developed at Carnegie Mellon University that teach students about fundamental Java programming concepts. Oracle has funded this program since 2010. The Khan Academy offers free video lessons and assessments for students of all ages. The platform currently serves 10 million users per month and 200,000 registered teachers. Oracle Corporation has funded this platform since 2011.Through such programs, Oracle promotes innovation of new technologies which go a long way boosting the corporation itself and community at large.
Oracle Corporation also supports nonprofit organizations that provide essential health services, assist needy families while strengthening the structural support of a healthy society.This has been achieved through various ways.One of the ways is through its participation in the Stanford Medicine Corporate Partners Program. By participating in such a program, Oracle Corporation has demonstrated its commitment to improving the delivery of health care to its employees, their families, and the community at large.
Another way is through its Riders for Health initiative which is a social enterprise that targets communities in sub-Saharan Africa. This is achieved through Oracle Corporation grants that support maintenance of the involved vehicles that are used to ferry essential drugs and vaccines, conduct educational outreach among other things. Through such health programs, Oracle Corporation employees become more motivated since the corporation they work for has their interest its objectives. This translates to the employees becoming more productive which in turn translates to more products, sales and profits for the Corporation.
Oracle Corporation supports veterans, especially those injured during their service. Through its Veterans Impact Council which works to ensure that Oracle Corporation implements and sustains the relevant veteran programs. In return the Corporation benefits from the strong leadership and problem-solving skills that the veterans have acquired in their military life.When a disaster strikes, Oracle Corporation matches its employees’ personal donations to disaster relief dollar-for-dollar to organizations with more roots on the ground. For instance in the financial years 2013 and 2014, the corporation contributed more than 770,000 US dollars to in aid in disaster relief activities including the 2013 floods and landslides of North India where the donations were channeled through the Indian Red Cross Society.
Such activities first of all boost the morale of their employees and this in turn leads to increased corporate production and profit. This is because the employees feel they are part of something that is larger than just a profit making Software Company.Also through such activities, consumers have a sense of loyalty to the corporation brand since they see how the corporation spends on the community at large instead of the old business as usual practices.Oracle’s strategic philanthropy sets the Corporation apart from its competitors that are still stuck in the old paradigms. This is because Oracle Corporation is doing something remarkable that makes a difference to its customers. Also through such philanthropic activity, Oracle’s reputation as a technology corporation has grown over the years and with a good reputation comes more investors and sales of their products since they have the good will of the community.
There are several disadvantages of strategic philanthropy. They include time, costs and decisions factors if the corporation decides to invest in the community itself. This is because the corporation has had to form employee teams, train these teams and decide how much money to give these teams for the various community projects. The corporation loses some of its employees’ services as they concentrate on these activities. In the long run the Corporation has to be prepared to spend time, money and decision making power in a venture that has no direct benefit to the Corporation.
Another disadvantage of strategic philanthropy is that direct funding by the corporation makes it difficult for the corporation to change what ought to be changed at the community level.Corporation leaders may at times be uncertain about the tangible benefits of philanthropy. Among the cited concerns are failure to meet the societal expectations and inconsistent expectations from investors.Oracle’s strategic philanthropy has seen a reduction in the number of investors to the Corporation. This is a result of the Corporation giving away part of its profits to the community. These giving deeds translates to reduced dividends every financial year for the investors who are in business to make profits. After a while most of these investors decide to reduce their investments by selling their shares to others parties that are still willing to invest with a Corporation has a good reputation with community.
Place an Order