ABSTRACT
This chapter presents a framework for thinking about partnerships between the business units of major corporations, government authorities and development agencies and civil-society organisations. If relationships with government agencies and civil-society organisations built during the feasibility stage of a project can be maintained over time, subsequent processes of partnership-building can be significantly shortened. The partnerships that engage corporations in social investment can be wide-ranging, covering the spectrum from knowledge-sharing to joint responsibility. The characteristics that are common to partnerships include voluntary engagement, mutually agreed objectives, distinct accountabilities and reciprocal obligations, and 'added value' to what each partner could achieve alone. The business outcomes from the partnerships can be divided into two: namely, outcomes for the individual operational business unit and outcomes for the global corporation. In the partnership exploration process, the parties identify their social investment and sustainable local development 'needs' and weigh the risks, costs and benefits of addressing these 'needs' through a tri-sector partnership.
