Corporate Diplomacy is about developing, leveraging and negotiating to create, sustain, and/or transform relationships with influential external parties in order to achieve strategic objectives. Multinational companies require a new set of relational competencies that most global managers have no prior learning or training in. The competencies needed to deal with non – business counterparts such as foreign governments, multiple domestic and
foreign pressures groups or domestic civil society groups like tribal leaders or NGOs predispose that global companies acquire organizational competency in Corporate Diplomacy Management.
Given the global nature of work and the cultural differences of business partners, clients and colleagues, building long-lasting and profitable relationships can be difficult or even short-circuited by the assumptions about business practices, expectations and mentalage 6 of 18 models. The world needs corporate diplomats now, more than ever, to build the bridges needed to harness market forces that can drive systemic, positive change. Relationships do matter. Companies that excel in prioritizing the right strategic relationships and nurturing them well, will more likely win in a competitive marketplace (Corporate Diplomacy, author Witold Henisz — Deloitte & Touche Professor of Management at The University of Pennsylvania’s Wharton School).