Corporate Diplomacy Strategy and Instruments; With a Discussion about “Corporate Diplomacy and Cyclical Dynamics of Open Innovation”
StatisticsView Usage Statistics
MetadataShow full item record
Discipline/sAdministración y Dirección de Empresas
This paper delves into the manner in which some Multinational Corporations (MNCs) manage corporate diplomacy as a catalyst of their political, social, and cultural influence in foreign markets. Once the related literature is reviewed, the qualitative Focus Group technique is applied by creating two teams of nine business internationalization experts, chosen amongst university professors; representatives of institutions and organizations, such as Chambers of Commerce or embassies; MNCs’ executives and lobbyists; and high-level representatives of Spanish state diplomacy. This contribution verifies that corporate diplomacy is known and clearly distinguished from other similar functions within the company in Spain; nevertheless, it is admitted that, in the case of Spanish MNCs, the arrival of corporate diplomacy is delayed. Secondly, we present the four key instruments to exert influence and, in turn, the most necessary ones to implement corporate diplomacy strategies: networking...