The role of corporate philanthropy is at a pivotal point as executive, employee, and customer expectations shift and stakeholders increasingly expect businesses to value and invest in societal welfare. In this rapidly evolving environment, there is opportunity for corporate foundations to reevaluate traditional approaches to grant making, social responsibility, and engagement with counterpart organizations.
The life sciences and health care industry provides an exceptionally compelling illustration of macrophilanthropic trends and possibilities. Although all industries can constructively transform existing corporate philanthropy models, the life sciences and health care ecosystem is experiencing dramatic increases in consumer engagement, perceived social responsibility, and global attention that make more thoughtful, strategic philanthropic investment especially urgent. In this paper, they examine the current health ecosystem, evolving stakeholder expectations, the unique position of life sciences and health care foundations to effect critical change,and alternative engagement models with demonstrated track records of success on an international scale.