Abstract
Government and non-government organizations (NGOs) basic reaction to the pace and scale of international changes has been a hesitancy to recognize adequately the need to modify themselves. Problems tend to be interdependent as well as bundled, needing thorough approaches as well as common participation. On the other hand, the private sector in developing countries providing on average 60 per cent of GDP, 80 per cent of capital flows and 90 per cent of jobs. As a result, a solid along with vital private sector is essential for help Developing countries move from associations depending on aid towards types depending on economic partnerships. Consequently, developing a collaboration dependent upon creating shared value (CSV) credo by using the private sector - rather than the conventional social responsibility approach- is a must to increase the impact involving aid investments while bringing in business growth. Hence, such paper aims to depict the suitable framework to create shared value policies and practices that enhance the competitiveness of private sector companies while simultaneously advancing the economic and social conditions in the communities in which they operate. Moreover, it tends to detect barriers impeding the realization of such framework; and the needed pillars to overcome such barriers in developing countries as Egypt.
Highlights
Philanthropy and Corporate social Responsibility (CSR) are excellent way to help a country, but definitely not the way in which for having a great state – Creating Shared Value (CSV) is
A solid along with vital private sector is essential for help Developing countries move from associations depending on aid towards types depending on economic partnerships
This process can take place by integrated reporting, auditing and management review, which creates the evaluation and feedback; which ensure continuous improvement loop that is essential for any successful management system (Bebbington et al, 2014). This means integrating the shared value creation process into the governance systems of partner organizations, including strategic planning and budgeting, management or business review, internal audits, and corrective actions (Eccles et al, 2014). This is what will ensure that implementation is happening and that the company stays on track to achieve its transformational goals; that yield the creation of shared value partnerships in the community
Summary
Philanthropy and Corporate social Responsibility (CSR) are excellent way to help a country, but definitely not the way in which for having a great state – Creating Shared Value (CSV) is. It's generally thought that corporations prosper at the expense of society and environment. This is not a completely unjust accusation. Not enough rely upon business companies led governments to get intense actions, and impose rules and regulations that adversely influence competitiveness and productivity. This restricted the economy's development, causing the financial, social and environmental issues unsolved (Maha Farouk, 2014). Government allows business enterprises to create shared value partnerships in the community; by supplying empowering rules, assets, and benefits in addition to organizing power. To prescribe a framework to create shared value partnerships in the community. To detect the main barriers to adopt such proposed framework at the Egyptian community and to recommend some pillars to overcome effectively these barriers
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