The definition of Business Diplomacy (from a medium – large company’s perspective)
Business Diplomacy is the way that international business uses the diplomatic know-how and the Commercial Diplomacy’s resources, to achieve its business goals in the host or home country, for expansion or survival.
We wish these goals to be equitable, sustainable, achieved on an ethical way and for all parties benefit at a global scale, but just including those values in a definition do not give any guarantee that will be taken into consideration by most of the international business people.
Commercial Diplomacy’s resources such as high level of contacts developed by skilled diplomats in both home and host country, public promotion tools at a reasonable cost and communication channels, reputation and trust factor, intelligence and pure market information centralized for a historical period, are few of the main needs for a company to go international with less risks and at a decent costs.
Are International Diplomats ready to share in an organized way some of their knowledge and resources with all the business stakeholders? Because, if this Pandora’s box will be opened, we shall be ready to deliver something that will produce positive effects for all involved parties, on a global scale.
Business Diplomacy shall define and require a high level of standards, to be respected by the future Business Diplomats.