Writing in today's Independent, the former Dean of of London Business School, John Quelch, says that the growing importance of foreign markets to US multinationals has not been matched by proportionate increases in overseas philanthropic giving. This, he argues, may be a mistake.
"It's time these multinationals started to walk the talk internationally. They need to win the hearts and minds of their customers around the world. No longer does a US brand automatically command a price premium. In some countries, such brands may now be tagged with a price deficit. The chances of attracting and retaining the right employees overseas can be boosted if a company shows it is serious about helping local communities.