We discuss corporate philanthropy as a strategic move for companies. Corporate giving managers believe their firms are becoming increasingly strategic in their philanthropic activities. Most institutional, firm and individual-level influences combine to precipitate strategic philanthropy. The nature of corporate philanthropy is evolving to fit a more competitive marketplace.

Corporate philanthropy is sometimes represented as the top of the pyramid of corporate social responsibility or as an outcome of corporate social performance. More recently, it has been argued to be a vital element in corporate citizenship and a practice expected by some stakeholders.

Corporate philanthropy can take a variety of forms and can stem from a variety of motivations. Strategic philanthropy, providing corporate resources to address non-business community issues that also benefit the firm's strategic position and, ultimately, its bottom line, has been conceptualized as being at the opposite end of the corporate philanthropy continuum from altruism, which is giving without concern for reward. Although many scholars and practitioners have noted an increase in the strategic nature of corporate philanthropy, relatively little empirical attention has been given to this practice. For some, the very idea of strategic philanthropy is an oxymoron. However, it is a useful paradox that goes to the heart of the role of business in society.