Despite the obvious benefits that Multinational Corporations (MNCs) have on developing economies, those often come together with tremendous externalities. Rather than exploiting cost drivers and cost savings to deliver cheaper products to the Western customer, MNCs could try to find more ways to cater to local markets profitably whilst contributing to resolving social challenges. This paper introduces a management framework that facilitates knowledge-exchange between local organizations and the MNCs for a more targeted product development that can effectively respond to the local needs. This research explores the relationship between MNCs and developing markets; it highlights the pitfalls of new product development efforts for such markets in depth before touching upon more effective ways of generating innovative intellectual capital for product development practices; it introduces the 4Es Management Framework that can solve cultural exchange challenges in MNCs, and lastly, it elaborates on how this can constitute alternative CSR initiatives
