22.  +Find+a+way+to+add+the+fifth+“P”+–+philanthropy+–+to+a+business.

22. Show how to find a way to add the fifth "P" - philanthropy - to a business.

Many philanthropic foundations were started by entrepreneurs.

Philanthropy is a Greek term which directly translated means "love of mankind." Philanthropy is an idea, event, or action that is done to better humanity and usually involves some sacrifice as opposed to being done for a profit motive. Giving money, time, advice and skills to help minimize or eliminate social, environmental, or political problems.

Philanthropy creates goodwill: reputation, name recognition, positive customer relations.

Foundations are nonprofits that raise funds for charities that assist people, animals, the environment, and other causes.

Acts of philanthropy include donating money to a charity, volunteering at a local shelter, or raising money to donate to cancer research. Businesses can implement it by using it as a way of advertising to show what their business stands for and their willingness to give back to the community. For example, a business could take a portion of every sell they make and put it towards cancer research or any type of organization that stands for a good cause.