Businesses fail in the absence of a sustainable engagement strategy with stakeholders who influence and are influenced by a company's business activity in communities where the company has a presence. The purpose of this multiple case study was to investigate factors that defined a framework regarding the creation of shared value when applying the Triple Bottom Line (TBL) of sustainable development as a corporate social responsibility (CSR) strategy between business, the community, and U.S. watershed initiatives to help resolve often conflicting stakeholder views. The specific problem was the lack of an existing framework regarding the creation of shared value when applying the TBL of sustainable development to CSR engagement initiatives between the firm, the community, and U.S. watershed initiatives to help resolve often conflicting stakeholder views. The theoretical framework was stakeholder theory integrated with the corporate imperatives of CSR, TBL, and shared value. The study focus was to compare shared value, CSR, and the TBL perspectives of 22 leaders and participants from two collaborative watershed initiative partnerships in one mid-eastern state. The study research question was: How do shared value, CSR, TBL define a community engagement framework between the firm, the community, and U.S. watershed initiatives to help resolve often conflicting stakeholder views? Two primary study conclusions emerged: (a) shared value, CSR, TBL were factors that defined a community engagement framework when integrated into a strategy between the firm, the community, and U.S. watershed initiatives to help resolve often conflicting stakeholder views; (b) the factors that contributed to creating shared value were interrelated and contributed to creating shared value when joined together in a Sustainable Community Engagement Framework to help resolve often conflicting stakeholder views.