Law & Governance
As capitalism is being re-invented and the voices of multiple stakeholders are becoming more prevalent and demanding, it is the perfect time for the private sector to embrace large-scale collaboration and a shared sense of purpose. Since the explosive growth of Corporate Social Responsibility (CSR) in the 1990s, a new era of responsibility, purpose and a re-envisioned capitalism are dramatically apparent. Beyond financial support, business leaders have the opportunity to galvanize networks, advocate for regulation and policy change, and form supporting consortia to support global development. The role of the private sector in development has changed significantly from a model of benevolent contributor to a model of collaborator, investor, business partner and exponential value creator. The new era of collaboration should move beyond a shared value mindset to new models of partnership where each contributor plays an equal role in defining challenges and designing solutions with the greater goal of sustainable value creation. Non-Governmental Organizations (NGOs) have the unprecedented opportunity to take leadership roles in engaging the private sector in more game-changing collaborations.
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