Corporate Diplomacy as a Management Decision

Abstract

Corporate diplomacy is a concept that became familiar to corporations once they transformed into the main actors of the international markets. The article highlights the evolution of the specialized behavior of companies interacting with stakeholders, introducing managers to a new type of diplomacy, corporate diplomacy, which demand global but also industry specific diplomatic practices, activities undertaken until not long ago, by national representatives, the commercial and economic diplomats. Specifically, the article analyses the behavioral foundations of global managers when they have to adapt corporate strategies to new markets and international standards. Showing an increased number of business perspectives and practices, managers as the corporate diplomats follow common patterns when acting international and representing the entire company. Results show that after taking into consideration the process of companies when deciding to implement corporate diplomacy within their managerial framework, Romania exists as a potential market for global investors, still fragile but proactive.