WHAT IS CORPORATE DIPLOMACY?
Two definitions perfectly summarize our concept.
The first is from Béatrice Collin, co-director of the European and International Institute and professor at ESCP:
“Corporate diplomacy consists in developing the company’s political, relational and social capacity so that it can interact positively and build with all the stakeholders in the countries or regions in which it is active; the goal is to ensure long-term sustainability and economic performance. Conceptually, this form of diplomacy is an emerging domain that crosses two fields that seem a priori distinct: International Relations, geopolitics, social and societal analysis with the strategic vision of the company and its management. ”
In addition, the definition of Jean-Luc Meier, Co-founder and Managing Partner of Strategic Expansion Solutions, professor at the University of Pennsylvania:
“Corporate diplomacy is the ability to develop business interests through the creation of strategically important alliances with key external stakeholders (governments, analysts, media, NGOs, interest groups and stakeholders) thereby enabling effective implementation and accomplishment of the company’s objectives.”