• News
    • Latest news
    • News search
    • Health
    • Finance
    • Food
    • Career news
    • Content series
    • Try Devex Pro
  • Jobs
    • Job search
    • Post a job
    • Employer search
    • CV Writing
    • Upcoming career events
    • Try Career Account
  • Funding
    • Funding search
    • Funding news
  • Talent
    • Candidate search
    • Devex Talent Solutions
  • Events
    • Upcoming and past events
    • Partner on an event
  • Post a job
  • About
      • About us
      • Membership
      • Newsletters
      • Advertising partnerships
      • Devex Talent Solutions
      • Contact us
Join DevexSign in
Join DevexSign in

News

  • Latest news
  • News search
  • Health
  • Finance
  • Food
  • Career news
  • Content series
  • Try Devex Pro

Jobs

  • Job search
  • Post a job
  • Employer search
  • CV Writing
  • Upcoming career events
  • Try Career Account

Funding

  • Funding search
  • Funding news

Talent

  • Candidate search
  • Devex Talent Solutions

Events

  • Upcoming and past events
  • Partner on an event
Post a job

About

  • About us
  • Membership
  • Newsletters
  • Advertising partnerships
  • Devex Talent Solutions
  • Contact us
  • My Devex
  • Update my profile % complete
  • Account & privacy settings
  • My saved jobs
  • Manage newsletters
  • Support
  • Sign out
Latest newsNews searchHealthFinanceFoodCareer newsContent seriesTry Devex Pro
    • News

    Development is Good for Business

    By Devex Editor // 07 June 2011

    EDITOR’S NOTE: Companies have increasingly been involved in international development, which in the long term is seen to grow the global marketplace for their products, Joel Paque of the U.S. Global Leadership Coalition notes.

    The role of business in development has sparked much debate recently, but what does it mean?  For some it translates into corporate social responsibility, with business helping the local communities abroad as a gesture of good citizenship.  Others see the potential for partnerships where the result is good not just for local communities abroad, but for business itself.

    USAID recently announced a new Center of Excellence for International Corporate Volunteerism, in conjunction with IBM that will work with corporations who wish to offer international volunteer opportunities to their employees. While this initiative will focus on corporate volunteerism and not investments in the developing world, the private sector has shown an increasing realization that investments in development efforts over the long term help grow the global marketplace for their products. Partnering with the private sector will also allow USAID to deploy expertise more quickly and cheaply, which is especially important in this time of budget cuts.

    One management consulting firm recently released a report extolling the “double-bottom-line” benefits of investing in development. Accenture’s “Convergence Economy: Rethinking International Development in a Converging World” report explores the intersections between longstanding development challenges, like global health and economic growth, and corporate interests. It proposes a new and emerging model to address what they call a “convergence” of issues. Accenture defines this, in the context of global development, as “the convergence of issues and interests and, most importantly, of solutions, with an unwavering emphasis on the outputs and impact rather than on organization structures and long-established and often stereotypical roles.” Accenture believes this new approach can help spur real development results by harnessing the expertise and skills of the private sector.

    In another example of how development can be good for business, Nestle recently sponsored a forum on the concept of Creating Shared Value (CSV), an approach that brings together governments, NGOs and business leaders for a comprehensive strategy to achieve global development goals.  Based on a recent article in the Harvard Business Review, CSV is neither corporate social responsibility or philanthropy but puts the needs of society at the very center of company policy to create both economic success and developmental progress.  CSV puts the burden of leadership on business leaders to make the private sector an active participant in meeting global challenges and creating long-term value for all parties.  Though public-private partnerships for development are not a new concept, CSV creates longer-term metrics for success and recognizes the changing role of government, NGOs and business.  By bringing all parties to the table to develop strategies for the short, medium and long term in development projects, the advantages of each sector are best utilized.  CSV is still in its infancy, but this approach outlines a promising framework for businesses to create “long term value, concurrently, for the shareholder and society.”

    Re-published with permission by the U.S. Global Leadership Coalition. Visit the original article.

    • Private Sector
    • Economic Development
    Printing articles to share with others is a breach of our terms and conditions and copyright policy. Please use the sharing options on the left side of the article. Devex Pro members may share up to 10 articles per month using the Pro share tool ( ).

    About the author

    • Devex Editor

      Devex Editor

      Thanks a lot for your interest in Devex News. To share news and views, story ideas and press releases, please email editor@devex.com. We look forward to hearing from you.

    Search for articles

    Related Stories

    Devex NewswireDevex Newswire: 'America First' becomes 'Trade First' for Africa

    Devex Newswire: 'America First' becomes 'Trade First' for Africa

    EducationOpinion: Business and philanthropy networks are education’s missing backer

    Opinion: Business and philanthropy networks are education’s missing backer

    PhilanthropyOpinion: As aid funding tanks, one partnership model offers stability

    Opinion: As aid funding tanks, one partnership model offers stability

    #GlobaldevJobsCareer advice from a sustainable investment and trade adviser

    Career advice from a sustainable investment and trade adviser

    Most Read

    • 1
      How low-emissions livestock are transforming dairy farming in Africa
    • 2
      Opinion: Mobile credit, savings, and insurance can drive financial health
    • 3
      The UN's changing of the guard
    • 4
      Opinion: India’s bold leadership in turning the tide for TB
    • 5
      USAID's humanitarian bureau is under pressure and overstretched
    • News
    • Jobs
    • Funding
    • Talent
    • Events

    Devex is the media platform for the global development community.

    A social enterprise, we connect and inform over 1.3 million development, health, humanitarian, and sustainability professionals through news, business intelligence, and funding & career opportunities so you can do more good for more people. We invite you to join us.

    • About us
    • Membership
    • Newsletters
    • Advertising partnerships
    • Devex Talent Solutions
    • Post a job
    • Careers at Devex
    • Contact us
    © Copyright 2000 - 2025 Devex|User Agreement|Privacy Statement