In contrast to simply donating dollars for public relations benefit, in-house altruism today means ubiquitous dedication to real causes. Dr. Larry Brilliant, Executive Director for Google.org, points out that effective business-backed giving means global outreach, partnerships with experts at the heart of solving problems, and a dedicated percentage of gross income to keep these projects afloat.
Traditional philanthropy invests in a limited circle of people, whereas the X PRIZE, says its founder Peter Diamandis, funds a broader landscape of people and ideas that succeed. Diamandis is encouraging large foundations like the Carnegies and the Fords to consider adding cash incentive prizes into their portfolio of philanthropy, as he believes the rewards from this new form of public enrichment and exploration are much richer.
Global corporate giving has been at the tip of entrepreneur's tongues this semester, and for good reason. In this 2003 clip, Kavita Ramdas, CEO of the Global Fund for Women, unveils the US to be one of the worst contributors to global issues, giving just one-tenth of one percent of our income, as a nation, to remedy human rights atrocities, pollution, or any other strata of global concern. With worldwide political conflicts and global warming now at the collective forefront, Ramdas' plea for innovative entrepreneurship solutions for the global community is only now receiving substantial attention and push.
Global Fund for Women CEO Kavita Ramdas talks about financial contributions for the greater good both locally and internationally - and that here in the US we give a very small percentage of our income to remedy the world's concerns. Ramdas cites the gap that exists between how much people think our government should be giving to global relief - 15-20 percent of our national income - but that less than 1% actually makes its way outside the United States.