Philanthropy as a Strategic Tool for Corporate Reputation Management: The Albanian Case

Abstract

Developments in technology, communication, and various spheres of economic and social life have brought about new approaches to public relations management. As companies continue to develop, there is a growing need not only for capital management, but also for reputation management. Over the last two decades, charity has been a vital element for corporate image consolidation and participation in addressing social needs in the Albanian society. However, recently there has been a shift in managing public relations and charity in corporations, leading to philanthropy as a more sustainable means of creating long-term strategies for reputation management. This paper aims to explore this evolution in the Albanian companies, focusing on their philanthropic activities. The study looks into the reasons why companies engage in such activities and the possible role the latter play in improving their reputation. For this study, we selected cases from five of the largest companies that utilize philanthropic activities as part of their PR strategies in Albania. In-depth data collection and analysis provides a comprehensive and contextualized understanding of the impact philanthropy has on reputation management. Additionally, the study employs a qualitative method, including interviews with industry professionals, academics, and media experts. The collected data shows that philanthropy has become a long-term and strategic element of corporate plans, influencing thus reputation management approaches that aim for continuous and sustainable relationships with all involved stakeholders.
  
 Received: 28 May 2023 / Accepted: 26 July 2023 / Published: 5 September 2023