The Commercial Diplomacy Initiative

What is the current context within which the Commercial Diplomacy Initiative operates?

The Commercial Diplomacy Initiative operates in an environment where distinct 'visible hands' have intentionally intervened in various sectors of the global economy. This poses a threat to prosperity and the liberal international economic order. In response, the United States, along with its allies and partners, has resorted to quasi-industrial policies. However, these reactions could potentially escalate the risk to continued prosperity by introducing increased inefficiencies in the allocation of scarce resources.

What risks does increased government intervention in economies present?

Increased governmental intervention in economies tends to diminish long-term prosperity and heightens the probability of conflict. Furthermore, nationalist reactions from Western governments, including the United States, risk ushering in a new economic order. This order could potentially be dominated by central government planning, aligning with the preferences of rival governance models rather than fostering free-market principles.

What is the primary problem that the Commercial Diplomacy Initiative seeks to address?

The Commercial Diplomacy Initiative aims to bridge the knowledge gaps and misunderstandings between the business and government sectors. These gaps pose a significant risk to stifling the innovation necessary for driving U.S. economic growth. A lack of knowledge and understanding, both real and perceived, among government officials about business objectives and constraints, and vice versa, threatens U.S. economic competitiveness. The Initiative strives to improve mutual comprehension and collaboration between these sectors to safeguard and advance U.S. economic interests.

What solution does the Commercial Diplomacy Initiative propose to address this problem?

The Commercial Diplomacy Initiative aims to cultivate real understanding and creative collaboration through a variety of means. These include immersive, short, and intense customized programs and coursework, conferences, seminars, and expert insight. The objective is to foster a mutual understanding of how business operates and how government works among mid-to-senior-level government officials and business leaders. By offering executive education-style experiences and business school-like coursework on subjects such as finance, supply chain, corporate strategy, and decision making, SMU Cox can effectively and efficiently bridge the knowledge and understanding gaps between business and government. Its strategic location in the heart of Dallas further enhances its potential for impact. 

Why should the Commercial Diplomacy Initiative be trusted to provide this solution? 

The Commercial Diplomacy Initiative at SMU Cox is comprised of a dedicated team of practitioners and academics capable of bridging the vast and diverse business and government communities. Our expansive network of leaders who have served in government and led in the private sector positions us uniquely in this endeavor. Our extensive resident knowledge and experience with how government works, coupled with our resident expertise in how business operates, makes CDI@Cox exceptionally equipped to minimize the knowledge gaps and misunderstandings. We aim to preserve the creativity and innovation necessary for the United States and its allies and partners to compete effectively and efficiently in today's world.

What will be the payoff from the Commercial Diplomacy Initiative's efforts?

By reducing knowledge gaps and minimizing misunderstanding between government and business, we anticipate fostering more creative collaboration across these communities. For government officials, such engagement should yield more creative and effective policy options to maintain economic competitiveness. For business leaders, this interaction should result in improved risk management and corporate decision making. Ultimately, for the enduring national interests of the United States, a “less visible hand” should increase the likelihood of preserving the entrepreneurial spirit responsible for American prosperity.