Very few people associate corporations with charitable foundations, in fact only a few companies were on the ground after Hurricane Harvey’s landfall and leftover destruction on the city of Houston and surrounding areas. One of these, however, goes above and beyond all year round for the community, Stream Energy in conjunction with their foundation “Stream Cares“ was able to bring aid to those affected by the floods. This new venture into philanthropy by corporations is picking up, some call it a good thing others a publicity stunt, whichever lane you fall on, there is no doubt that good is still coming out of this.
We spoke a little about how companies are using philanthropic ventures to acquire more customers and earn respect from their community, but does it work? Although the data is still out on this, there is no doubt that ventures such as setting up a foundation are a great way to buffer any future issues that the company may run into, such examples would be low profits, layoffs or internal scandals. According to statistic, many companies are already very generous in their donations, in fact over $19 billion dollars where donated by large corporations last year. This, however, does not include actions made by employees through there own free will. Stream Energy employees have consistently gone above and beyond for these foundations, including creating partnerships with other groups such as the Red Cross and Habitat for Humanity. Stream Energy’s business model is very simple yet effective, it includes having their employees build a network and relationship with their customers to better present their products in an honest and trustworthy manner. Although the profits are a great thing for their employees, many want to do and give more. Through another charitable group by Stream Energy, “Hope Supply Co.” is helping to control the homeless population in Dallas, this includes offering food, shelter and most notability giving homeless children experiences (such as going a water park) that they would have never had the chance to do.
We can count on Stream Energy to continue this incredible trend of giving back to the community, this is one tactic we want every other company to copy in order to better our society as a whole.