Business Diplomacy used by multinationals and domestic companies
As Diplomacy is equally important for a small country as it is for a large one, Business Diplomacy should be of as much interest to a domestic company as it is to a Multinational enterprise.
Diplomacy is utilized not only for expansion, but also for survival. Therefore Strategic Business Diplomacy may be used not only by large companies looking to expand their business globally but also by local companies and other business stakeholders looking to benefit from globalization of the large international firms.
For example, in small countries rich in natural resources, the Strategic Business Diplomacy may be used by the multinationals to find local allies to exploit the natural resources in partnership for all parties’ benefit. In the same line, a small company can use Business Diplomacy to become a sub-contractor of a corporation that won a large international project.
Romanian companies looking to expand internationally in the present rapidly evolving global business environment, need to be better informed and to address new risks, including but not limited to the geopolitical ones. The use of Business Diplomacy is definitely a must for a successful internationalization process and economic sustainable development.
Business Diplomacy can be a global window, which will allow the two-way transfer of information and economic concepts that will help different business stakeholders to better communicate, negotiate and build sustainable global business.