International business is a study of international relations as well as how economies work together. Diplomacy is a very important part of this. Handling international relations require a delicacy which can only be achieved by being diplomatic.
Diplomacy is defined as the profession, activity, or skill of managing international relations, typically by a country’s representatives abroad. Diplomats are the reason behind the smooth functioning of global trade or peace negotiations. In the age of globalisation, diplomacy plays a very important role. It is an art of negotiating with others to get what you want. It is the sole reason behind peace over wars. Historically, diplomacy meant the conduct of official (usually bilateral) relations between sovereign states.
There are many types of diplomacy such as economic, political, gunboat, etc. The purpose of each one is to resolve conflicts to get what everyone wants by giving them a common goal to work towards.
Globalisation would not be possible without diplomacy. It requires hours of negotiations to come to a common conclusion. International business requires cultural diplomacy, as much as it requires economic and political diplomacy. Any organisation, in order to survive in the foreign market, not only needs to negotiate trade terms with the government, but also negotiate with the citizens through advertising to promote themselves and sustain themselves in the market.
Universities need to prepare students in any field to be diplomatic. It is a skill needed by everyone, be it a CEO of a company or a marketing executive.
Michael Creegan, who graduated as a Bachelor of Science in International Business program from Northeastern University in the spring, says of the work he would like to do as a U.S. diplomat, “You’re advocating for the U.S. business abroad. You meet with people in the private sector and promote peace and prosperity through fair trade and equal opportunities.”