Dr. Dimitrios Panagiotis Kamsaris
Diplomacy and Country Branding
Attracting Foreign Investment
- Business und Wirtschaft
- 58832 Wörter
- Keine Altersempfehlung
To attract global investors, a country needs to claim a distinct brand positioning in their mind. This positioning will also help to coordinate the various efforts and investments of the country in order to attract global investors. The most successful nations in the world have a clear image that helps them become irresistible to investors. USA is an eternal explorer, always experimenting with pioneering ideas, Germany is about control and hard work, Italy is all about creativity etc.
Investors, far from just basing their decisions on functional advantages and opportunities, they invest in countries with a clear identity that shows commitment to its development in a professional way. A clear brand image for the nation helps to attract global investors in the international arena, sustain them and a halo effect will boost its products, tourism etc.
As nations compete for investments in the global marketplace, the best way to achieve distinctiveness, attractiveness and even irreplaceability is to root the nation’s image on biological concepts that transcend time and cultures. Tools such as the Wheel of Motives leverage the advances in modern disciplines such as biology, neuroscience, cognitive science, bio - semiotics etc. can capture with precision the DNA of a country and build a true-to-self, authentic and irresistible strategy to attract investors.
Branding is the way a country creates a favorable reputation through communication efforts. Branding is the marketing approach of shaping the brand to break the chaos and appeal to the ideal investor’s attention, transforms them into permanent customers and turns an indifferent audience into brand supporters, to create an attitude and make an impact and upgrade the country (Ataman, Van Heerde and Mela, 2010). Country branding is the process of applying business branding techniques to stimulate countries. The main objective of country branding is to build and manage the reputation of a country. For a country’s success, branding is obliged, that’s the reason that in the present book, we are going to explore what branding is and how a country can earn benefits in the most effective way (Badenhausen, 2012). When we look in the past, we find in Norse language, the word means the mark that farmers burned on cattle to signify ownership which is an originator of the modern logo (Ataman, Van Heerde and Mela, 2010). But branding nowadays is more than a logo, it signifies the emotional reaction a country can stimulate from its clients (Dahlen, Lange and Smith, 2010). Because, the brand is the set of perceptions that investors have about the country, branding is the set of actions undertaken to cultivate that brand (Erdem and Swait, 2004). In order to compete more effectively in the global economy, the countries started using brand management techniques. (Dinnie, 2008).
Since 1990s we observe an increased in interest in culture of international relations. We explore terms such as multiculturalism, cultural differences and specific regional values, and their correlation to international issues.
Facing the challenges of an increasingly complex world the existence of cultural commonalities and universal values all cultures share and intercultural sensitivity within groups surfaces the way for acceptance and tolerance of other cultures and allows members to be open to values which are universal among all groups, such as law and justice, which globalized society should then build upon together. Diplomats are not the only actors involved in the diplomatic process because due to globalization, many actors such as NGOs, international organizations and individuals can be seen practicing diplomacy.
Globalization requires governments to operate in a context different than before, which is to integrate other participants of diplomacy in its own decision-making processes. Governments have been focusing on new strategies, such as involving ministries and non-state actors and institutions, providing greater transparency, and acting collectively as often as possible. [mehr]
Stichwörter: National branding, geopolitics, diplomacy, globalization, international relations, marketing, foreign investment