Implications of corporate philanthropy for social responsibility in the textile industry

Abstract

The subject of this paper is the implications of corporate philanthropy in the textile industry in a contemporary business environment. Due to the importance of corporate philanthropy for corporate social responsibility, the paper discusses its role in contributing to the general community, participants in the textile industry. The paper analyzes two case studies as examples of good practice in applying corporate philanthropy for corporate social responsibility (American Textile Company and NAG d.o.o.). On this basis, it indicates the philanthropic activities that the textile industry participants could apply and the goals of their business that they can achieve through corporate philanthropy. The paper concludes that by applying corporate philanthropy, businesses will be able to associate their name or brand/brands with the common good locally and nationally.

Keywords

• textile industry
• corporate philanthropy
• corporate social responsibility