Business Diplomacy Management As A Key Role In The Sustainable Development And Stakeholder Management In The Multinational Corporations: Daimlerchrysler Case

Business Diplomacy Management As A Key Role In The Sustainable Development And Stakeholder Management In The Multinational Corporations: Daimlerchrysler Case

Dinç, Mehmet

In the last two decades a dramatic shifts within the business community have been occurred. Globalization has offered business opportunities to companies around the world and has led to the development of a multitude of standards that govern business behavior. It is no longer sufficient to know the business and legal conditions of a multinational companies’ headquarters country and some of the countries where it operates foreign subsidiaries. Multilateral and intergovernmental organizations are increasingly defining industry standards that become mandatory for multinational companies. Non-Governmental Organisations (NGOs), operate at multiple levels ranging from national civil society issues like environmental protection to observation and investigation of possible human rights violations of multinational companies or foreign states. They often operate at national, regional and transnational levels focusing on economic, social and political issues. In addition, growing internationalization has became increasingly complex, civil society organizations have exerted increasing pressure on MNCs, especially the concept of sustainable development has expanded to include the simultaneous consideration of economic growth, environmental protection and social equity. Thus, in response to these kind of shifts, many have made a commitment to apply the principles of sustainable development to their activities. To meet and to handle these commitments, MNCs have required a multitude of policies and new business competencies. One important factor contributing to the sustained success of MNCs’ operations in foreign markets in the competent use of business diplomacy. Business Diplomacy Management (BDM) refers to the ability of MNCs to effectively interact with non-business stakeholders wherever the MNCs have business interests, be they in the form of local production, distribution channels or sales offices.

Conference or Workshop Item
PeerReviewed

2012-05-31

1099