Wednesday, February 2, 2011

Week 3 EOC: Making money for good

When it comes to doing good for the world, as a business RED is one of the top around. RED is a organization that partners with many large retailers around the world and takes a portion of what they sell and gives it to the red organization which in return pools the money into the aids fund and spreads the money across the world for aids research and medication. Companies that participate in this range from Apple, Converse, and Nike, all the way to Starbucks. Each company has a different product or portion that they give to the organization.  For example Gap gives 50% of their proceeds of Gap Red products to the organization and in return that money is given in full back to the aids research. Then you have other companies that just give a flat rate back on products. Starbucks gives back one dollar for each RED product that they offer. More and more organizations are starting to pop up that are similar to this and its something that growing population are interested in. A person may not be so quick to open there wallet to a charitable organization but they might feel a bit more comfortable to go to a retailer and purchase something that is in return given off as a charitable donation. It’s a win win situation for all sides. The RED organization says that since its beginning in “2006 they have globally raised over 160 million dollars”. Promotional partners have also teamed up with RED to get the word out about their services. Cable networks like HBO and MTV have taken part in spreading the word. Even internet based sites like Hulu and and Facebook are getting in on the action giving RED a very strong boost among the community.

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