Shedding light on Business Diplomacy. A systematic review on typology and its implications for MNC's

The aim of this paper is to distinguish different types of business diplomacy and identify appropriate strategies for conducting diplomatic activities. The research has been based on a literature review and a media content analysis. Four types of business diplomacy were identified, namely: (1) Intra-firm Business Diplomacy, (2) Inter-firm Diplomacy, (3) Home-Country Government Diplomacy and (4) International Business Diplomacy. In addition, findings suggest that all four types require diplomatic capabilities to be successful. This paper advises MNC’s to apply business diplomacy for relationships, both on the short- and long-term, to sustain legitimacy. The results of this paper posses both scientific relevance and indicates the possible beneficial implications of business diplomacy for MNC’s.