Business Diplomacy in a Consulariate Format: Historical Evolution and Challenges in Globalized World

Abstract

Abstract Purpose In this chapter we approach the issue of Business Diplomacy (BD) from a historical perspective, showing how this activity has been performed since the ancient Greece. In particular, we give a brief overview of the main BD concepts used, starting with the proxenos, the “pioneers” in the BD field, until present days. Design/methodology/approach The analysis is grounded on a theoretical approach backed by a comprehensive overview of the representative literature in the field of BD. We identify and discuss the main challenges to be faced by BD in a globalized world, dominated by multinational corporations (MNCs). Findings We show that BD has been practiced for centuries and nowadays is still performed by honorary consuls and chambers of commerce. In a globalized world, BD is being assimilated by MNCs either as their main activity or as an auxiliary one becoming a key tool and mindset toward securing their market reputation, positioning, and legitimacy. Originality/value Apart from the historical overview of the beginnings and evolution of the main diplomatic actors and activities, the chapter proposes new concepts and legal frameworks for the actual BD field such as: consulariate instead of consulate (devoted to business) and chancellariate instead of embassy (devoted to political affairs).