There comes the importance of a proper structure to be brought in place to develop the students socially aware and responsible. Philanthropy as an academic subject has been designed and adopted worldwide with strong likes(as in social networking) and some 36 B-Schools have floated about 100 courses including those at undergraduate levels.An appealing term for the business students, philanthropy is imbibing in them the essence and art of giving and sharing. Business students grab this as an opportunity to create an impact on their community voluntarily.They can actually implement what they have learnt and make a difference to the world around them and this is what drives them to an effort and then to a goal, big enough to earn smiles for many.
Pay It Forward, a U.S. University philanthropy program in 33 college campuses of Ohio,Michigan and Kentucky offers each selected course a certain sum of money-$4500 annually for the past 2 years. Students need to rationally allocate the money to local non-profits and devote 15 hours minimum serving one. At some institution. they spent a whole year researching how best to divide the funds after a proper evaluation of the quality and financial health, analysis of tax filings and systems of operation of other charity organizations.The students selected from among so many options to finalize the institution in Columbus called Directions for Youth and Families,whereby the funds hired a dance trainer who would train students to maintain their energy level and engage in some activity after the classes.
As an MBA student they have the eagerness to become better-educated and savvier philanthropists,they need
to assess how good can they do with the given sum, a strategic issue which calls for application of business skills and thus an enhancement of the present skills.In the quest of creating a direct impact they go for a hands-on experience in serving the needy.
The experienced say “It really drills down into your belief system and helps you discover what you believe is an effective strategy,” You get a holistic view of the philanthropy field and as a result you feel more effective at your job.“It just gives the students a taste of what they would be doing later.”