Press Release

For further information
Cheryl Kiser
kiserch@bc.edu
617.552.8948
617.552.4545

May 5, 2003

Strategy Leader Michael E. Porter Applies Ideas of Competitive Advantage to Corporate Philanthropy during May 14th Forum in New York City

New York City, NY, May 14 -- Professor Michael E. Porter, internationally recognized for his work on corporate strategy, will present a new theory on corporate philanthropy during a May 14th forum titled “The Competitive Advantage of Corporate Philanthropy.” Professor Porter will speak to senior practitioners of some of the largest corporate grantmakers such as AOL Time Warner, DaimlerChrysler, ExxonMobil, General Electric, and Merck and Co. at the one-day event to be held at the Omni Berkshire Place Hotel in New York City. Press representatives are invited to attend Professor Porter’s session from 9:00 – 10:30 am (please call 617.357.4000 ext. 124 to reserve a seat).

Professor Porter’s theory builds on his December 2002 Harvard Business Review article “The Competitive Advantage of Corporate Philanthropy,” which urges companies to increase the value of their grantmaking by focusing social investments and applying expertise on the company’s competitive context. In the article, which won the second-place 2002 McKinsey Award, Porter advocates a movement from public relations-focused corporate philanthropy to grantmaking that simultaneously addresses long-term business constraints and real social problems. Porter’s ideas have generated considerable discussion within the corporate philanthropy field – especially in these difficult economic times when many corporate donors are searching for the business case to sustain their programs.

Professor Porter will be joined by a panel of leading practitioners from Pfizer Inc., the American Express Company, Cisco Systems and The Center for Corporate Citizenship at Boston College. Pfizer is the world’s largest corporate grantmaker, distinguished by such programs as the Sharing the Care Program and the Living Share Card Program for low-income seniors. American Express’ major social investment programs include sponsorship of the Academies of Travel and Tourism and the Economic Independence Fund to support the financial literacy education of under-served adults. Cisco Systems’ signature initiatives include the Networking Academy Program and sponsorship of the NetAid Foundation.

Forum co-sponsors include the Foundation Strategy Group, a professional consulting firm that serves corporate, private and community grantmakers, and The Center for Corporate Citizenship at Boston College (http://www.bc.edu/corporatecitizenship), a research center that provides research, executive education, consultation and convenings on issues of corporate citizenship.