Research Network for Business Sustainability - Newsletter: "Hot Issue: Sector-Bending Organizations
Marlene J. Le Ber, PhD Student, Richard Ivey School of Business
On September 14, 2006, The New York Times carried an article that signaled a new organizational form, a for-profit philanthropic company.1 Prior to Google’s initial public offering in August 2004, Google’s founders, Larry Page and Sergey Brin, disclosed their intent to reserve 1% of the company’s stock and an equal percentage of profits to tackle global poverty, communicable diseases, and climate change. Their hope was that someday their philanthropy would 'exceed Google itself in terms of overall world impact by ambitiously applying innovation and significant resources to the largest of the world's problems.'2 The vehicle they chose to fulfill their aim was Google.org, a for-profit philanthropic company. Although it wasn’t unusual for successful entrepreneurs to form charities, this for-profit charity idea was new. Or so I thought."
-
No comments:
Post a Comment