Role of Diplomacy in Contemporary International Business

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ACKNOWLEDGEMENT

I would like to take this chance for thanking my research facilitator, friends & family for support they provided & their belief in me as well as guidance they provided without which I would have never been able to do this research.



DECLARATION

I, (), would like to declare that all contents included in this thesis/dissertation stand for my individual work without any aid, & this thesis/dissertation has not been submitted for any examination at academic as well as professional level previously. It is also representing my very own views & not essentially which are associated with university.

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ABSTRACT

The main theme of this research was based upon business diplomacy in contemporary international business. The research topic that was developed and analyzed in the research was mainly the role of diplomacy in contemporary international business. The study aimed to explore the research questions which were to assess the role of business diplomacy in contemporary international business and how diplomacy is used as an instrument of negotiation for contemporary international business. The research also explored how organizations can enhance their relationship at an international level by using business diplomacy. The research employed qualitative research method where secondary sources of data were used. The researcher carried out extensive research through collecting relevant data on the topic of business diplomacy. Several previous researches highlighted that there is a significant role of diplomacy in contemporary international business. The significance of business diplomacy in contemporary international business was highlighted through understanding the complexities of international foreign markets. The effectiveness of business diplomacy management was studied in the context of key aspects and tools of business diplomacy. The research findings and analysis showed that there is a significant and important role of business diplomacy in international contemporary business in order to achieve long term sustainability and organizational excellence. It was found that business diplomacy is an art of influencing and communicating which helps in developing long term relationships with stakeholders in order to gain business opportunities. The research concluded with the implications, future research and recommendations which could further enhance the role of business diplomacy in contemporary international business.

ACKNOWLEDGEMENTii

DECLARATIONiii

ABSTRACTiv

CHAPTER 1: INTRODUCTION1

Outline of the Study1

Background of the Problem1

Purpose of the Study2

Research Aim and Objectives3

Research Questions3

Significance of the Study4

Ethical Considerations4

Time scale5

CHAPTER 2: LITERATURE REVIEW6

Concept of Diplomacy6

Business Diplomacy7

Trade Policy Making Activities9

Business Support Activities9

Barriers affecting Organizations10

Politico-Legal Barriers10

Economic Barriers11

Socio-Cultural Barriers12

Technological Barriers12

Key Aspects and Tools of Business Diplomacy13

Long Term and Sustainable Relationships with Host Government14

Corporate Global Governance15

Strategic Political Management15

Environmental Scanning16

Stakeholder Management16

Issue Management17

Global Research18

Emerging Netpolitik19

Dimensions of Business Diplomacy Management19

International Level20

National Level20

Community Level20

Organization Level21

Value Chain of Business Diplomacy21

Alignment of Organization Objectives with Government Objectives21

Intelligence22

Public Relations22

Negotiations23

Conflict Mediation24

Representation24

Information Gathering25

Significance of Business Diplomacy25

Norms of Business Diplomacy28

International Business Insight28

In-depth Knowledge of International Relations and Diplomacy29

Multicultural Approach30

Trompenaar's Cultural Value Dimensions31

Hofstede Value Dimensions33

Use of Analytical Tools34

CHAPTER 3: METHODOLOGY36

Introduction36

Research Design36

Research Method37

Data Collection Method38

Literature Search40

Inclusion and Exclusion criteria40

Data Extraction41

Data Analysis42

CHAPTER 4: DISCUSSION AND ANAYLSIS44

Introduction44

Discussion and Analysis44

The Role of Business Diplomacy in Contemporary International Business44

Diplomacy as an instrument of negotiation for contemporary international business49

Businesses can enhance their relationship at ...