Involving business in social development

Creating business partnerships for social and economic development
Promoting business involvement in international development
Developing multi-stakeholder partnerships between development groups and business
The appearance in recent years of multi-stakeholder partnerships between companies, international NGOs and development agencies working with economic and human development, environmental sustainability, social cohesion, urban renewal, rural development and emergency relief, indicates a new role for business in social and economic development in developing countries.
Economic globalization, political transition and technological transformation are bringing more than three billion people into the market economy. Along with the new opportunities there is also rising inequality, high levels of unemployment, economic insecurity, social dislocation, breakdown in traditional communities and environmental degradation.
Business is in a unique position to mobilize first, its own social budgets and environmental policies towards development actions, and second, can also bring to bare the entire range of business skills, resources and networks that can beneficially impact the process of sustainable development, and can be leveraged through partnerships with other stakeholders.
Type Classification:
G: Very Specific strategies
Related UN Sustainable Development Goals:
GOAL 1: No PovertyGOAL 2: Zero HungerGOAL 3: Good Health and Well-beingGOAL 4: Quality EducationGOAL 5: Gender EqualityGOAL 6: Clean Water and SanitationGOAL 7: Affordable and Clean EnergyGOAL 8: Decent Work and Economic GrowthGOAL 9: Industry, Innovation and InfrastructureGOAL 10: Reduced InequalityGOAL 11: Sustainable Cities and CommunitiesGOAL 12: Responsible Consumption and ProductionGOAL 13: Climate ActionGOAL 14: Life Below WaterGOAL 15: Life on LandGOAL 16: Peace and Justice Strong InstitutionsGOAL 17: Partnerships to achieve the Goal