Shifts in business-politics paradigms: Exploring lessons and future growth

Abstract

Business governance is an outgrowth of political ideology and public diplomacy. The nature of business and industry shifts in the country or a trade bloc in the context of political scenarios in the countries that dominate international business. Political power dominates in trade negotiations, and defines the contemporary trade philosophy for trade governance. The political framework of trade powers within their territorial boundaries influences key players in the economy comprising industries, governments, and non-governmental organizations exhibiting the supremacy of people in postulating the business strategy. This could help in designing domestic and international policies for major customers and suppliers, concluding acquisitions and alliances, and securing finance for business from investors and banks. Political ideology and public diplomacy drive in building industry coalitions with political bodies to influence policy makers, institutional shareholders, key opinion leaders influencing the media, and business analysts.