«Problems of economics and management of oil and gas complex»

Business diplomacy: the prospects for national image management in the times of change

UDC: 339.92
DOI: -

Authors:

¹ National University of Oil and Gas "Gubkin University", Moscow, Russia

Keywords: world economy, fragmentation, regionalization, instability, national security, trust, national image, transnational companies, business diplomacy

Annotation:

The authors of the article present the results of studying the changes taking place in the global economy caused by the transition of the global political system to a polycentric model of the world governance. Among the manifestations of profound changes on a global scale the authors include the following: signs of fragmentation and regionalization of global economic relations, transformation of logistics and production chains, global authorities’ toughening rhetoric and disruption of diplomatic ties, the wider use of restrictions to ensure national security as well as decreased trust throughout the world at both the interstate level and within individual countries. Among the actors gaining increasing weight in all spheres of international relations particular attention should be paid to transnational corporations. According to the authors’ opinion, transnational companies will play an important role not only in the implementation of large ambitious projects and the establishment of new economic ties, but also in the process of formation and maintenance of the national image in the times of change. Business diplomacy is considered one of the promising instruments for managing national image as it serves as an applied instrument for implementation of companies’ economic interests. Business diplomacy includes elements of lobbying and communications with government agencies. The authors of the article analyze the advantages of using business diplomacy by Russian transnational corporations, the potential difficulties of its use upon Russia’s entrance to new markets and the possible ways to overcome these challenges.

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