Once Hurricane Harvey dropped heavy rains across Houston, most companies in the United States watched powerlessly as numerous Americans lost their homes, properties and even lives. One company in Dallas, Stream Energy, spent some of the money it had earned from its very successful business engagements to fund the recovery and reduce the financial load carried by some of the Hurricane’s survivors.
Corporate philanthropy is part of the organizational philosophy for Stream Energy. The energy corporation recently launched a charity foundation, Stream Cares, to make its on-going philanthropic projects across Texas formal. It is important to note that Stream Energy had been carrying out philanthropic engagements in Texas for over 12 years in a non-formal manner.
In as far as Hurricane Harvey was concerned, however, Stream came out and showcased how companies in Dallas ought to leverage philanthropy and charity as an intricate part of their brand recognition.
In the corporate world, having a separate philanthropy department is quite a new undertaking. It provides multiple advantages. The corporation gets to give some of its earnings back to the immediate community, while also earning the loyalty and respect of potential consumers.
According to numerous statistics, corporate America is very generous. In 2016, corporations handed over close to 19 billion U.S dollars to various charities across the country and overseas. However, this figure does not include corporate scholarships, donations, cause marketing, and efforts employed by individual employees to the charitable courses of their choice.
Stream business model is quite simple. Through its sell of energy, the company is able to pay its affiliates to create a network of loyal customers and deliver a wide array of services and products, ranging from mobile phone plans to fixed-rate energy. Stream Energy offers both corporate and residential services, from telemedicine to virtual doctors and discounted clean energy.
Successful Stream affiliates are trained to care about the homeless. Both the corporation and the staff members regularly check how many people are homeless in Texas alone. It is through this organizational culture that the company has been able to significantly reduce the percentage of homeless people living in Dallas.