Final answer:
Strategic philanthropy is the synergistic and mutually beneficial use of an organization's core competencies and resources to deal with key stakeholders for organizational and societal benefits.
Step-by-step explanation:
The question is referring to the synergistic and mutually beneficial use of an organization's core competencies and resources to deal with key stakeholders for organizational and societal benefits. This concept is known as strategic philanthropy. Strategic philanthropy refers to the deliberate and strategic allocation of resources to philanthropic activities by businesses in order to achieve both business and societal objectives. It involves using a company's core competencies and resources to address social, environmental, and economic issues, while also benefiting the organization in terms of reputation, brand image, and stakeholder relationships.