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Business Diplomacy: The elucidation to ease multinational corporation’s business risk in developing countries and conflict-prone zones

Stümke, L.I. (2017) Business Diplomacy: The elucidation to ease multinational corporation’s business risk in developing countries and conflict-prone zones.

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Abstract:These days, multinational corporations are no longer ‘innocent’ business actors but play an important role in international relations as well. Entering markets and opening operations in developing countries or conflict-related regions is attractive for MNCs since the margins are high and the potential for growth extensive. However, operating in developing countries and especially conflict-related regions is also risky. Recent research described what kind of diplomatic actions were already accomplished by principled leaders to manage in conflict-related regions. The topic needs far more research to better understand how MNCs act in conflict-related regions to succeed. Therefore, this study investigated on an explorative basis to answer the question: “How do principled leaders manage their company’s business successfully by conducting business diplomacy in developing countries and conflict-prone zones?”. Grounded theory was used for the methodology and interviews were conducted with nine principled leaders from different MNCs that operated in diverse sectors. Results showed that business diplomacy was conducted by every MNC but to different degrees to minimize business’ risks and maximize business’ opportunities. Based on that, a Business Diplomacy Framework Matrix was developed laying a theoretical foundation for understanding how MNCs can act when launching a new venture in a conflict-related region.
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:Business Administration MSc (60644)
Link to this item:http://purl.utwente.nl/essays/72405
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