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Strategies for Market Entry and Business Expansion

Expanding your business into new markets is a strategic move that can unlock global growth opportunities. In this comprehensive guide, we explore the strategies and tactics for successful market entry and business expansion. Whether you’re eyeing international markets or seeking to broaden your domestic reach, our insights will help you navigate this transformative journey.

Unlocking Global Growth

Introduction

Market Entry Strategies

Market entry is a critical phase in expanding your business. Consider these strategies:

• Exporting: Start by exporting your products or services to international markets. This low-risk strategy allows you to test the waters.
• Joint Ventures: Partner with local companies in the target market to share risks and leverage their expertise.
• Franchising: Expand through franchising, granting others the right to operate your business model in different locations.
• Mergers and Acquisitions: Acquire existing businesses in your target market to quickly gain a foothold and access their customer base.

Business Expansion Tactics

Once you’ve entered new markets, effective expansion tactics are essential:

• Adapt to Local Culture: Understand and respect local cultures, customs, and preferences to tailor your offerings accordingly.
• Invest in Marketing: Develop localized marketing strategies to reach and engage with your target audience effectively.
• Build Strategic Partnerships: Collaborate with local businesses, suppliers, and distributors to strengthen your presence.
• Continuous Innovation: Stay ahead by continually innovating your products or services to meet changing market demands.

Benefits of Global Growth

Expanding your business globally offers numerous advantages:

• Increased Revenue: Access new customer segments and revenue streams in untapped markets.
• Risk Diversification: Spreading your operations across multiple markets can mitigate risks associated with economic downturns in one region.
• Competitive Advantage: Gain a competitive edge by being a global player with a diversified portfolio.
• Brand Recognition: Enhance your brand’s recognition and reputation on a global scale.

Government Resources

Government websites provide valuable resources to aid in your market entry and business expansion efforts. Here are some reputable .gov resources:

• Explore the U.S. Commercial Service’s Export.gov for market research, export guides, and trade data.
• Access funding and support programs for expanding businesses from the U.S. Small Business Administration (SBA) .
• Learn about trade regulations and international trade agreements from the U.S. Department of Commerce .
• Discover export financing options and resources on the Export-Import Bank of the United States (EXIM) website.

Case Study: Global Expansion Success

Let’s explore a real-life case study of a company that successfully expanded globally:

In 2019, Company XYZ, a tech startup, sought to expand its software solutions into international markets. They:

• Conducted thorough market research using resources from Export.gov , identifying high-demand regions.
• Formed strategic partnerships with local IT firms to provide customized support and implementation services.
• Implemented a targeted marketing campaign, considering cultural nuances and preferences.
• Complied with trade regulations with guidance from the U.S. Department of Commerce .

Their efforts paid off. Within two years, Company XYZ established a strong global presence, with international markets contributing over 40% of their total revenue.

Market entry and business expansion are transformative steps that can lead to unprecedented global growth. By utilizing effective strategies, tactics, and government resources, you can navigate the complexities of expanding your business. Unlock new opportunities, diversify your revenue streams, and gain a competitive edge in the global marketplace.

Arthur Mansourian , who works out of the Beverly Hills office, has a 12-year track record as both a management consultant and investment banker. He played an instrumental role in making NMS Consulting a Top 10 Cybersecurity Company and a Top 50 Fastest Growing Company. Arthur holds the Certified Information Privacy Professional, United States (CIPP/US) certification from the International Association of Privacy Professionals (IAPP). His expertise lies in providing data privacy and cybersecurity consulting regarding protocols, data breaches, and practices in regard to GDPR, GDPR-K, CCPA, CPRA, HIPAA, SB 220, and other relevant regulations.

Aykut Cakir , Managing Director, Partner and Head of Turkey, has a demonstrated history in Negotiations, Business Planning, Business Development and as a Finance Director for gases & energy, pharmaceuticals, retail, FMCG, and automotive industries. Mr. Cakir has worked for major Fortune 500 companies such as Procter & Gamble, Roche Pharma Group, John Deere, and Linde Gas. He has twenty-eight years of experience in Operational Finance, Accounting and in General Management, with international business experience including in the USA, Europe, Middle East and Turkey.  Mr. Cakir holds a Bachelors degree in Finance and Economics from the University of North Carolina.

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Growth strategy for a global media company

Finding new sources of profitable growth in a difficult media environment

A global media organization was struggling financially in the face of tough industry headwinds. On the plus side, they were armed with a strong brand, a diversified portfolio of holdings, and access to capital.  The questions were how and where to grow in order to re-assert profitability in the short term, while at the same time positioning itself for the future, with the increasing dominance of digital channels.

The business was currently losing tens of millions of dollars per year. 

Root causes: difficult media headwinds with declining advertising revenue and huge levels of complexity in the business. 

It was operating in multiple channels (TV, print, radio, digital, and conferences) across more than 100 countries—from Europe and the US to Russia and South Africa. Each had its own idiosyncrasies and consumer preferences for media consumption. Many times, this expansion happened via opportunistic partnerships. 

It was the classic ‘Greener Pasture’ siren that had led the business to chase short-term revenue at the expense of profitability.  Given that context, a key role for WP&C was injecting a disciplined, analytical view of growth adjacencies, where the theoretical adjacency-expansion opportunities were almost unlimited.

1: Build a new fact base

WP&C assessed and quantified the media landscape, advertising revenues, trends, competitors, and growth rates. We drilled down into individual end-markets & channels.

2: Identify strategic options

Based on the analysis, and the current position of the business, we developed a series of strategic alternatives, with a range of potential outcomes and differing capital requirements.

3: Operationalize the plan

We assessed how well the current operating model supported the strategic options. Once aligned on the growth plan, we highlighted specific changes required to execute on the plan.

• Use region-specific strategies.   Each region needs to be treated differently based on how media is consumed, and the level of return expected.
• Heavily focus on Western EU,   where brand best positioned & financial returns highest. Hold off investment in Eastern Europe.
• Generally, reduce cost to serve . Leverage existing TV assets to broaden reach and access. In Africa, achieve better scale economies by moving to a regional hub model.
• Integrate the operating model.   Historically, business was siloed by media platform: inefficient, expensive and out of step with how people consume media. Move to new operating model oriented around markets and audience, as opposed to platforms.

• In 2 years, since the strategy was launched, the business has reversed its fortunes to be once again profitable
• Revenues are up in TV, Radio, and Events —s ince launching the strategy, digital ad revenues grew more than 50%
• The business has also successfully moved to a new operating model—a multiplatform ad proposition with content at the core, which is driving sales and focusing the business on customers

Is your company ready for transformation?

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Case study: Data-driven decision-making in building a market expansion strategy

In today’s ever-evolving business landscape, expanding into new markets is considered a strategic decision imperative for growth-oriented organizations. By leveraging extensive yet tailored research techniques, founders can gain valuable insights to inform their market expansion strategies, minimize uncertainties and maximize their chances of success. 

This case study explores a real-life example, highlighting the power of data-driven decision-making in building a market expansion strategy.

The research process: Determining success factors, scorecard ranking and conducting qualitative analysis

First, there’s no one-size-fits-all solution to market expansion. However, the process starts with understanding the target market to determine the best fit. 

1. Determining success factors and assigning weightings to each factor

Deciding on the right success factors forms the bedrock of assessing the potential market’s viability and opportunity. These factors refer to parameters that can affect the success of the product or service in any market and vary based on the company’s value proposition, key differentiators and target customer segment. 

Once decided, these factors are weighted in percentage based on their possible impact on product performance in the new market. For instance, in highly regulated industries such as financial services and healthcare, different countries’ regulations would impact successful expansion, hence the regulatory landscape would have a higher weighting. 

With Asset Direct, the MaRS MI team agreed on four main factors: 

• Fintech landscape: An overview of Fintech innovation and adoption in proposed markets, considering the number of Fintechs and their growth rate
• Customer profile: Characteristics that define Asset Direct’s ideal customer persona, such as smartphone adoption
• Country’s macroeconomics: Understanding macroeconomic factors that could impact adoption in the proposed market, such as ease of doing business
• Regulatory landscape: Researching relevant regulations and policies that impact Asset Direct’s activities

2. Scorecard approach

Scorecards are valuable tools for ranking the performance of the intended markets based on predetermined success factors. They have use cases in several comparative analyses and are helpful in making data-driven decisions. 

The scorecard approach involves ranking the countries based on the subcategories per success factor on a scale (e.g., 1 to 5, with 1 being the least and 5 being the highest). The subcategories are summarized and averaged, multiplied by the previously assigned percentage weightings and summed up to 1.0 or 100% for each proposed market. The markets are then ranked to determine the top considerations. 

3. Qualitative analysis

The previous step focused on quantitative data. However, new markets must also be assessed on qualitative features that make them the best fit. 

For example, qualitative indicators such as willingness to implement open banking or the population’s overall attitude to financial services and technology emerged as key differentiating factors for the winning market based on our analysis. Qualitative data can be acquired through primary (e.g., direct interviews or surveys with potential market stakeholders) or secondary (e.g., existing reports and analysis on the market) sources. 

Summary and Asset Direct’s feedback  

A culmination of these steps can provide data-driven insights when deciding what markets to explore. These insights can be tested and validated as companies seek to expand into new markets. They help design a well-aligned expansion strategy that uniquely caters to the preferred market, mitigates risks and unlocks growth potential. 

Client feedback:

This case study underscores the importance of understanding the market landscape, determining and ranking success factors, and identifying risks and opportunities through quantitative and qualitative research to decide on new market potential. As companies navigate the complexities of expansion, leveraging data-driven insights will be key to unlocking new growth frontiers and ensuring a competitive edge in the global marketplace.

Learn more about Asset Direct’s experience in expanding their offerings into new geographical markets from our AMA session with Adam Rice: Overcoming Barriers: A Conversation on Scaling Globally and our International expansion playbook: How to plan for successful global expansion.

Case study: Identifying pain points and expanding value proposition

How to estimate market size: business and marketing planning for startups, total addressable market: a beginner’s guide to market sizing, sign up for our monthly startup resources newsletter about building high-growth companies..

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Global expansion success

After an early setback, an industrial company resets its strategy.

US-based food ingredient manufacturer seeking a way to satisfy customers and increase growth.

Relocate a portion of their UK-based manufacturing operations to mainland Europe in order to be closer to customers and help control increasing costs.

Define an optimal path to:

• Protect European Union (EU) market share
• Grow new revenue
• Reduce costs by locating closer to suppliers and end markets in Central Europe

Leaders spent close to three years working with a commercial real estate broker to determine whether investing in a blending facility in Eastern Central Europe would:

• Generate cost savings to the business
• Make the company more competitive in the mainland European market
• Permit growth into newer markets in Europe

However, the broker was unable to recommend any suitable locations. The company realized that their existing approach was failing to drive the process forward.

Big picture challenge

In addition to the challenge of where to locate, company leaders faced customer relationship issues due to market conditions:

• Supply chain uncertainty from Brexit and concerned European customers
• Higher UK operating cost base
• The perception of being a non-local supplier in mainland Europe

Working with the commercial real estate broker was limiting the focus on the broader challenges the company faced with its desired global expansion.

To address the problem holistically, company leaders would need to think bigger.

They asked themselves:

• What type of compromises do we need to make to achieve our goal?
• What type of partner is best suited to guide us going forward?

Creating a decision framework

The company decided to engage RSM Strategy Advisory Services to help them craft a better plan. The first step was to break the challenge into financial and non-financial goals. Then, RSM built a decision framework that helped the client systematically explore all available options and determine which expansion model best fit its requirements.

Meeting clients where they are

The client had already spent extensive time and money searching for manufacturing sites to meet its needs, so the RSM team leveraged this investment to speed up the process and ultimately reach a final decision in only 12 weeks.

The RSM team also conducted its own third-party research with recruitment and commercial real estate firms to understand characteristics of the labor markets in the target cities. The new manufacturing location would ultimately have a small headcount and require specific operational capabilities.

Two cities, too many drawbacks

One central european capital city the rsm team looked at had a low unemployment rate, making a small workforce difficult to recruit. in addition, wages in the city were increasing and competitive, so new employees would have to be incentivized properly. , a second outlying city was underdeveloped and had cheaper labor but lacked the quality and availability of specialized labor the company required., refining targets through prioritization.

The RSM team worked with the client on an iterative discovery process to refine the target markets. This enabled the team to zero in on the best target-market fit via a thorough understanding of the client’s goals, their largest near-term growth opportunities, and multiple points of validation.

The RSM team included 11 study cities in the project scope. Using the decision framework to narrow down the selection based on the client’s project requirements and goals, they ultimately chose two main targets in one Central European country.

Key priorities

Supply chain proximity, key customer acquisition and growth, site/facility, financial goals, zeroing in on the right location, upon completion of the expansion study, the rsm team handed the findings over to the client. the company then asked rsm to find five potential sites for the manufacturing plant. rsm conducted a specific search over four weeks and ranked the locations by fit. the client chose the top recommended site, acquired it and is beginning construction., rsm can help organizations with strategy and planning, esg advisory, mergers and acquisitions, program and project management, and change enablement., related solutions, enhance operations for resilience, disruption management and growth, facilitate future growth opportunities and maximum business adaptability by re-evaluating key areas of your business..

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An International Expansion Case Study – Just Eat

Just eat’s success story.

Scaling your business from your local market abroad provides a wealth of opportunities. Perhaps most notably is the new market entry advantage. Just because your organisation is operating well in its local market doesn’t mean there isn’t a new opportunity out there that will prove even more successful. 

Just Eat is one of the most globally recognised takeaway services, with it successfully operating in the UK, Canada, Australia, France, Italy, China, and Spain, to name a few. What many aren’t aware of is that Just Eat’s home country is in fact Denmark. One of the key reasons this is little-known is because the company didn’t truly take off as a service until it relocated to the UK in 2006. 

So, why is it that? This case study explores Just Eat’s global expansion strategy, why it was successful, and how effective business planning turned them into a global household name.

New Market Opportunity 

One of the most notable areas that Just Eat succeeded in during its international expansion was defining and serving the market most relevant to them. 

Whilst Denmark was providing the company opportunity, Just Eat noted the demand of the UK takeaway market. They were bought out by Bo Bendtsen in 2005, who decided to launch the Just Eat Headquarters in London.

To provide context to just how much the UK market could offer, over 50% of Europe’s food delivery industry is based in Britain. 

Adapting and expanding to serve a well-suited market proved a smart move for the takeaway business. As of 2017, over 70% of the company’s revenue came from the UK alone, despite being located in over a dozen countries worldwide by this time.

Connect’s Tip:

If you’re looking to expand your business abroad, first try to define “why and where”. You may have a dream of moving to a specific country, but if that new country and its market don’t serve your business framework then you should continue to research other alternatives. The perfect opportunity is out there, so be open to all options for you and your business!

Further Expansion & Buying Power

Whilst international expansion is a step-by-step process, with success comes the opportunity to further expand your business. 

This is exactly what Just Eat did, with the Netherlands and Ireland being the next locations for expansion in 2007 and 2008 respectively. By this point, the company was growing rapidly, as well as acquiring multi-million-pound investments with the view of buying out competitors further afield. 

Within the next 10 years, the company had either expanded to or bought out their market competition in Australia, Canada, and the UK. At the time of writing this article, they are operating in some capacity across 23 different countries.

Just Eat is also a partner to other existing businesses in Brazil and Columbia, proving a versatile approach to their international expansion method.

Connect’s Tip: 

Like with Just Eat, a versatile approach to international growth often means more opportunities come your way.

Whilst their journey was far from an overnight process, Just Eat assessed every market competitor and approached each new venture with a different expansion strategy. Whether it came down to expanding as their own brand or buying out/partnering with their competition, Just Eat’s varied strategy is what has ultimately helped them become a global market leader. 

Branding & Sponsorship

Branding is something that can easily be lost in the wider picture when expanding your business globally.

Whilst your business will already have a brand identity, it’s important to consider what may potentially work even better in other markets. Just Eat has done a great job at not only changing branding, messaging, and logos to keep up with the times, but also tailoring it to their various markets.

For example, when acquiring existing takeaway competitors in Australia and Canada, Just Eat chose to maintain the already familiar names of the companies and simply rebranded the logos to the trademark ‘Just Eat logo style’. This means that in Australia Just Eat is known as Menulog and in Canada, Skip The Dishes. 

Maintaining the corporate identities of companies that the new markets are already familiar with gave Just Eat a valuable head-start when relocating to new countries. You’ll see below the examples of each brand and how they compare.

In terms of international sponsorship, this is yet another area in which Just Eat has succeeded. Previously shirt sponsors of English football club Derby and Belgian side Oud-Heverlee Leuven, the company ensured that their brand identity was visible to their target market across various countries. In a similar sponsorship deal, Just Eat also sponsored the 14th and 15th series of the UK X-Factor. 

If you’re expanding into new markets, it’s important your strategy assesses how your brand will likely be perceived in your new location. Ensure that translations are appropriate and coherent to foreign audiences or clients and that you are appealing to the correct target market from the start.

The Just Eat expansion journey has been going for over 14 years now. Relocating and expanding your business is a long process but, as you will have seen, one that provides a great wealth of opportunity when done correctly.

Start your expansion journey with your own free downloadable resources! Define your goals, set a timeline, and check them off as you go. See this as the starting point as you get your business expansion underway.

For further assistance in your own global expansion journey, the Free Centuro Connect platform is here for you…

Centuro Connect – The best New Market Entry Platform

The  Centuro Connect platform  has been created as a centralised cluster of resources for entities looking to enter new markets. The Centuro Connect platform has details on tax, immigration, market entry points, HR, marketing, and real estate for 100+ countries. Contactable and reliable experts are also on hand to help you ace your expansion. 

The entire platform and its contents are completely free to use and have been specifically designed to have a simple sign-up process and easy-to-use features, all whilst does not cost businesses a penny!

You can sign up for the Centuro Connect platform for FREE today! There’s no risk, no single hidden cost, and no endless documentation to fill out. Just a wealth of information and like-minded experts to help you in launching your business overseas.

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Building a Successful Market Expansion Strategy in 2024

The rise of e-commerce has established a digital marketplace and simplified how businesses may approach market expansion. It's much easier now to grow your presence outside of existing markets.

However, the ease of access adds to the pile of companies competing for the attention of international audiences. Thus, standing out among your competitors requires careful strategizing.

This detailed guide outlines the steps you can take in building your market expansion strategy. By the end, you'll be equipped with a list of handy tools to set you on the path of success in foreign market entry.

What is market expansion?

Examples of market expansion strategies.

• Things to consider when expanding a business internationally (+ a practical checklist for market expansion considerations)
• Four Steps to developing a successful market expansion strategy

Finding the key to success in the global market

Market expansion is a business growth strategy companies use to expand the reach of their products and services in new or existing markets.

This does not necessarily mean going global. You can also expand by:

• marketing your existing products to a new customer base
• developing new product lines

If you want to understand the different strategies involved in market and product expansion, check out the Ansoff Matrix . The model displays the four main expansion strategies pursued by businesses:

• Market penetration : Expanding the sales of an existing product in an existing market
• Product development : Introducing a new product in an existing market
• Market development : Introducing an existing producing into a new market
• Diversification : Introducing a new product to a new market

Simply put, there are many ways to pursue market expansion that does not necessarily involve crossing national borders.

In today’s world, however, most business owners will want to take advantage of the opportunities offered by globalization and extend the reach of their target market to other countries. 9 out of 10 executives surveyed by CFO in a 2020 study said they had experience with international expansion.

In that same study, more than half of the managers kept up their plans for global expansions despite the challenges brought on by the COVID-19 pandemic. The benefits simply outweighed the potential risks.

Why do businesses want to go global?

So what benefits are there to global expansion? It goes without saying that having a larger audience for your marketing will increase sales. But there are also other, less obvious reasons to expand into new markets abroad, such as to

• Grow revenue potential
• Gain access to new talent
• Earn market share
• Improve competitiveness
• Lower risks through diversification
• Increase production levels
• Reduce operating costs
• Access new investment opportunities

In short, you are likely to benefit from global expansion whether you are a small business, a promising tech startup, or a Fortune 500 company.

If your product or service is already established in an existing market, exploring growth opportunities in other geographic areas will be beneficial to your company's development.

Why are market expansion strategies important?

Managers need to approach growth ventures with a solid business plan to avoid failure. Having a solid market extension strategy before scaling your business for new markets helps you identify opportunities, clearly define your goals, and allocate the appropriate resources.

But following through on strategy is easier said than done. Research suggests that a lot of companies are good at strategizing, but often fail to execute it. Strategy execution is number one on the list of major challenges facing corporate leaders in Asia, Europe, and the United States.

Why? One reason is that a lot of strategies are inflexible and fail to adapt to changing market circumstances. While striving to reach objectives is part and parcel of any business, the fact of the matter is that business strategies must be adapted to the target market, and not the other way around.

The differences between translation, localization, and globalization

Localization is often used interchangeably with translation, but the two are very different. Translation is to express the words or text of one language in another, while localization adds the process of adapting a product or service to the customs of a particular language, culture, or place.

Localization is a great complement to the efforts of globalization (and vice versa). However, if you want your business to be competitive in an unfamiliar market, it is not enough to just present your product to the audience.

You also need to make sure it is presented in a way that will resonate with them. This is where translation and localization come in.

The latest translation statistics show that 65% of non-native English speakers prefer content in their native language. Hence, most companies will usually start with translating their website and marketing copy into the local language.

While that is a great start, if you want to increase your revenue potential among consumers in the international market, you need to do more than just translate the text.

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It is easy for a company to go astray without paying attention to localization, as shown by some select market expansion examples.

• The Swedish company Electrolux took a real gamble when they used the infamous tagline “Nothing Sucks Like an Electrolux” to market their vacuum cleaners in the US.
• And have you ever heard of when Apple entered the European market without including letters from local alphabet on their keyboard design ? I doubt the Germans were very impressed with the tech company when they couldn’t find their umlauts.

To get an idea of how it should be done, let’s look at a successful example of market expansion from Netflix, a company that accelerated its growth across the globe with a localization strategy.

Case Study: Netflix Market Expansion Strategy and Localization

In just a little over 20 years, Netflix has transformed from a local DVD rental company to a global media company and online streaming service available in over 190 countries . Starting their global expansion in 2010 after a period of slow growth in the US, Netflix succeeded with its global expansion using these three methods:

• Translating content for international audiences : Netflix started out their strategy by providing subtitles and dubbing in the language of their target market. This has included making dubbing more available in countries that prefer subtitles when streaming foreign-language content . Moreover, their user interface and customer support are fully available in the target language, making sure that the customer experience from start to end is localized.
• Creating content for the target countries: As a next step, Netflix partnered with local production companies to create original content set in their targeted countries. Who would have thought that Netflix’s most-watched series in 2021 would be Squid Game, a South Korean TV series based on a group of people fighting to their death in local children’s games?
• Adapting content to new locales: Recently, Netflix started making adaptations of existing stories in different lingual and cultural settings, such as its multi-million-dollar deal with American mystery author Harlan Coben. Now, you can watch Coben’s books be played out in Polish, Spanish and French, alongside English language adaptations.

Instead of taking for granted the global appeal of the US media industry, Netflix went one step further to reach its international audience by localizing every step of the customer journey. It’s no wonder their international revenues have now surpassed their domestic revenues .

If your business is just at the start of its market expansion journey, there are a few things to keep in mind if you want to replicate the successes of companies like Netflix. Let’s dive right in.

Things to consider when expanding a business internationally

There are four main factors you must take into account when preparing to introduce your product or service to a new market. We have listed them for you in this handy checklist below, along with the questions you need to ask yourself as you go along.

You can either screenshot the following table or download your market expansion checklist here .

A Checklist for Market Extension Factors

While there are many more things to consider, finding the right answer to these questions sets you on the path to success in expanding your business operations into foreign markets.

The next steps will provide you with practical, actionable tips on how to do just that.

Four steps to developing a successful market expansion strategy

No matter your industry, a good strategy will leverage data to set tangible goals for introducing your product or service into a market. It will also establish an appropriate budget and a plan for how to navigate challenges like:

• linguistic and cultural barriers
• local regulations
• travel restrictions
• talent recruitment.

Nevertheless, just like when it comes to consumer markets, no one size fits all. In the end, the best strategy for expansion into new markets is one that suits your business.

It might seem a bit overwhelming at first, so to make it simple, here are the basic steps we recommend you take to expand your business into new markets:

• Review your current business performance using KPIs
• Do market research
• Set clear goals
• Adapt your product and marketing materials

1. Review your current business performance using KPIs

Businesses should not try to expand before they have reached their peak in the domestic market. This means you need to determine whether market expansion is the right direction for your company based on measurable data on your current business performance.

A natural part of business development is to keep track of metrics, or key performance indicators (KPIs). Examples of KPIs that can help you determine whether your business is ready for international expansion include:

• growth rate
• sales revenue
• sales conversion rate
• market share
• website traffic volume.

Keeping track of data can also help you in the early stages of defining market opportunities abroad. For example, do you have a fairly large share of visitors from a certain country, but no accessible website in their language?

That might tell you it is time to start localizing your website for greater sales conversion and revenue potential.

Tools For success :

Your company likely already has a set of objectives and ways to measure the results of your strategies in your internal data tracking. External tools like Google Analytics and Similarweb provide you with valuable insights on website traffic and can help you track where the traffic is coming from. This can be anything from different social media channels or the geographic locations of the people that visit your website, along with their user journey from lead generation to final sales conversion.

2. Do market research

The first step to market entry is to make sure you are equipped with all the information about the opportunities and challenges for expansion within the country.

You need to find out the size of your industry in the target country, whether there is a demand for your product or service in the new market, who the competitors are and whether you need to adapt your product to local needs.

Then you have to figure out the practical matters. For example, what are the most common distribution channels in the market, and how do you gain access to them? What are the local regulations that could provide barriers to entry?

It is impossible to succeed in any market without understanding the potential customer. Typically, you want to know their pain point, figure out how your product or service can solve it with a unique selling proposition (USP), and pursue a marketing strategy that effectively gets your brand message across. That requires research, research, and more research.

Marketing research typically involves both primary and secondary research, but you can choose whichever approach works best for your business.

Primary research will require you to conduct interviews, surveys, focus groups, and visit the location directly. If that’s not feasible, you can get the information you need from databases like Statista , NielsenIQ , Pew Research , OECD , Euromonitor and Google Market Finder .

3. Set clear goals

A business needs to have clearly defined goals and objectives , and that is no less true when it comes to international expansion. You have to ask yourself what is the ultimate goal of wanting to expand into the market, what you can realistically achieve within a set time frame, and how you are going to track the progress. In other words, your goals have to be SMART:

• M easurable
• A chievable
• T ime-bound

Examples of goals your business can set for market expansion are:

• Open two new office locations in Portugal and Spain by 2023.
• Increase company share in the South Korean market by 2% over the next three years.
• Enter into two new strategic partnerships with local suppliers by the end of the year.
• Earn $2 million in gross revenue in the second year after entry in a new market.

Having such clear goals will help set the stage for planning your strategy and tactical moves for foreign market entry. Just like in the beginning stages, tracking KPIs and metrics continuously as you go along is important to check how you are doing with reaching your goals.

If you haven’t done so already, consider using project management tools like Asana , Jira , or Notion to track your short- and long-term goals and assign action items to get them done.

4. Adapt your product and marketing materials

Now that you have established an idea of what the market looks like and defined your priority areas for entry, it is time to plan out your expansion marketing strategy. This will require translation and localization to adapt your product and marketing copy for the local market.

If you don’t have any employees on your team with the cultural knowledge or linguistic skills for the local market, consider hiring freelancers or looking at online language service providers (LSPs). If you don’t know where to start looking, check out Redokun’s directory of places to find translators online.

Once you have your team in place, translating your entire website and other business materials may seem like a daunting task. Every part of the customer journey, from things like marketing collateral to the user interface of your website, will need to be translated and adapted with the local consumer in mind for the best results. You also need to make sure everyone is on the same page when it comes to brand guidelines and industry-specific terminologies.

If you opt to do this manually, it will likely be very time-consuming with files and spreadsheets sent back and forth all over the place. Luckily, there are automation tools available to make this process easier for your business.

Invest in a translation management system (TMS) like Redokun that allows you to easily coordinate your multilingual projects by gathering translation tools, communications, and progress tracking in one place.

Redokun offers features such as translation memory and computer-assisted translation to cut down on time spent on repetitive tasks. That makes your team’s translation workflow more efficient, reduces opportunity costs, and increases productivity as you can spend your valuable time on other core tasks.

As each country has its own unique characteristics, paying sufficient attention to translation and localization is key to any successful market expansion strategy.

A one-size-fits-all approach may have worked for Ikea, as the assembly instructions for their flat-pack furniture can get away with using only diagrams and illustrations that can be easily understood by anyone without any need for translation or localization.

But it is unlikely to work when you prepare to launch into a new market, especially if the audience is not aware of your brand from before.

In the words of Google: if you want to grow global, you first need to think local.  Fortunately, the wide availability of translation resources and tools has made thinking local an easier task than it used to be.

Till next time,

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Case Study: Successful Business Expansion And Market Penetration By An SME In Singapore

Are you an SME owner in Singapore looking to expand your business and penetrate new markets? Look no further than this case study of a successful SME that achieved just that.

By analyzing their strategic planning, implementation of growth strategies, focus on innovation and competitive advantage, marketing and branding strategies, financial planning and resource management, you can gain valuable insights into how to achieve similar success.

The SME landscape in Singapore is highly competitive, with many businesses vying for market share. However, by following the example set by this successful case study SME, you can learn how to stand out from the crowd and achieve your business goals.

With a focus on detail-oriented analysis and strategic planning, you too can take control of your business’s future and achieve success in expanding your reach and penetrating new markets.

Overview of the SME Landscape in Singapore

You might be surprised to learn about the diverse landscape of small and medium-sized enterprises in this island city-state, with bustling streets lined by shops, restaurants, and service providers catering to a diverse range of customers. Singapore has a thriving entrepreneurial culture that’s supported by government initiatives aimed at fostering innovation and growth.

As such, SMEs have become an integral part of the economy here, contributing significantly to job creation and economic development. With this backdrop in mind, it’s important to understand the unique challenges and opportunities faced by SMEs looking to expand their business operations in Singapore.

Now let’s delve into the business goals and objectives of our case study SME.

Business Goals and Objectives of the Case Study SME

Let’s take a look at what this small but mighty company is aiming to achieve and how they plan on getting there. The business goals and objectives of our case study SME are clear: they aim to expand their market share in the Singaporean market while maintaining their reputation for quality and innovation.

To accomplish this, the team has identified five key strategies that will guide their efforts:

• Foster strong relationships with customers through exceptional service
• Continuously innovate and improve products to stay ahead of competitors
• Increase brand awareness through targeted marketing campaigns
• Expand product lines to meet evolving customer needs
• Focus on operational efficiency to maximize profits

The importance of alignment cannot be overstated – every member of the team must understand these goals and work towards them consistently.

Tracking progress is equally important, as it allows the SME to adjust their strategies if necessary based on real-time data. This detailed, strategic approach ensures that each action taken by the company contributes meaningfully towards achieving its overall objectives.

In the next section, we’ll dive deeper into strategic planning for expansion and market penetration without losing sight of these overarching goals.

Strategic Planning for Expansion and Market Penetration

Now we get to the exciting part – how this small company plans to conquer new territory and outshine their competitors. Before diving into execution, strategic planning is key. The SME conducted extensive market research to identify potential areas for expansion and gain insights on customer segmentation. They utilized a 3 column and 5 row table to map out their findings, including market size, growth potential, competition analysis, target demographics, and pricing strategy. With a clear understanding of the market landscape, they were able to develop a comprehensive plan for expansion and market penetration that aligned with their business goals and objectives. Their approach included a mix of organic growth through targeted marketing campaigns and partnerships with complementary businesses as well as acquisition of smaller players in the industry to further solidify their position as a dominant player in the market. By leveraging data-driven insights from market research, they were able to make informed decisions that allowed them to effectively allocate resources towards growth initiatives while minimizing risks associated with entering new territories or markets. As you move onto implementation of growth strategies and tactics section, keep in mind how strategic planning played an essential role in setting up the SME for success in achieving its business objectives without compromising quality or diluting brand equity.

Implementation of Growth Strategies and Tactics

Get ready to see how this small company put their strategic plan into action with the implementation of growth strategies and tactics. First, they focused on partnership opportunities by identifying key players in their industry and establishing mutually beneficial relationships. This allowed them to expand their reach and gain access to new markets.

Second, customer retention strategies were implemented through personalized communication and exceptional service, leading to increased loyalty and repeat business.

Finally, they constantly analyzed data and adjusted their approach to ensure optimal results. By focusing on these key areas, the SME was able to successfully penetrate the market and expand their business.

Looking ahead, they continued to focus on innovation and competitive advantage by staying up-to-date with industry trends and implementing new technologies where appropriate.

Focus on Innovation and Competitive Advantage

Focusing on innovation and gaining a competitive advantage was crucial for the company to stay ahead in their industry and continue their growth trajectory. Innovation and competitive advantage are key factors that determine the sustainability of any business.

By introducing new products, services, or processes, SMEs can differentiate themselves from competitors and gain an edge in the market. This is especially important in Singapore’s highly competitive business environment.

Successful SMEs like our case study example have implemented innovative strategies to penetrate new markets and expand their customer base. They’ve also leveraged technology to automate processes, reduce costs, and improve efficiency. These efforts have paid off with increased revenue streams, improved profitability, and a stronger market position.

Looking towards the future, innovation will continue to be a driving force behind successful SMEs as they navigate changing market trends and a dynamic competitive landscape.

The next section will explore how effective marketing and branding strategies can further solidify an SME’s position in the marketplace without breaking the bank on advertising expenses.

Marketing and Branding Strategies

Discover how innovative marketing and branding strategies can help your small business stand out in a competitive marketplace. To effectively penetrate the market, you need to develop a strong brand identity that resonates with your target audience.

Start by identifying your unique selling proposition (USP) and creating a memorable brand message that communicates it clearly. Leverage social media platforms to reach and engage with potential customers, building trust and establishing yourself as an authority in your industry. Additionally, consider partnering with influencers who share your values and can help amplify your message to their followers.

By consistently delivering value through thought leadership, engaging content, and personalized experiences, you can set yourself apart from competitors and build a loyal customer base. As you implement these marketing strategies, don’t forget to track metrics like engagement rates, website traffic, and conversions to measure success and make data-driven decisions for future campaigns.

Now that you have established effective marketing tactics for market penetration, let’s move on to financial planning and resource management, which are critical elements of business expansion.

Financial Planning and Resource Management

The importance of effective financial planning and resource management cannot be overstated when it comes to sustaining and growing a small business. For SMEs in Singapore, budget allocation and cash flow management are crucial components of financial planning that need to be carefully scrutinized.

It’s important to prioritize spending on areas that will yield the greatest returns while minimizing unnecessary expenses. Keeping track of cash inflows and outflows is also critical for managing liquidity and ensuring that the business has sufficient funds to meet its obligations.

By implementing sound financial practices, such as regular reviews of budgets and cash flow statements, SMEs can avoid common pitfalls like overspending or running out of cash. This creates a stable foundation for growth and expansion, allowing businesses to invest in new products or services, expand into new markets or territories, hire additional staff, or acquire new technology.

As we move into the next section about lessons learned and future outlook for SMEs in Singapore, it’s clear that successful businesses have taken a strategic approach towards financial planning which has enabled them to achieve their goals over time.

Lessons Learned and Future Outlook for SMEs in Singapore

You’re about to learn some valuable lessons and gain insight into the future of small businesses in Singapore, so get ready to feel inspired and motivated to take your own business to new heights.

As an SME owner in Singapore, you know that expanding your business and penetrating new markets can be a daunting task. However, it’s important to remember that challenges are inevitable, but with proper planning, resource management, and government support, they can be overcome.

One of the biggest lessons learned from successful SMEs is the importance of adapting quickly to changes in the market and always being prepared for unexpected challenges. Additionally, seeking government support through grants and programs can help provide financial assistance and guidance for navigating complex regulations.

As we look towards the future of SMEs in Singapore, it’s clear that innovation and digitalization will continue to play a crucial role in staying competitive. By staying up-to-date on industry trends and embracing technological advancements, SMEs have the potential to thrive in an ever-evolving marketplace.

Congratulations! You’ve just finished reading about a successful SME in Singapore that’s achieved significant expansion and market penetration.

Through strategic planning, innovation, and effective resource management, this SME has been able to achieve its business goals and objectives while maintaining a competitive edge in the market.

The case study highlights the importance of having a clear vision for your business and developing a detailed plan for growth. It also emphasizes the need for innovation and staying ahead of your competition through continuous improvement.

By focusing on marketing and branding strategies that resonate with their target audience, this SME was able to create a strong brand identity that helped them stand out in the crowded marketplace.

Overall, this case study serves as an excellent example of how SMEs can succeed in Singapore by leveraging their strengths and seizing opportunities for growth.

By taking a structured approach to expansion and maintaining focus on key success factors such as innovation, competitive advantage, branding, financial planning, and resource management – small businesses can thrive in today’s dynamic economy.

With careful planning, hard work, and perseverance – you too can achieve success like this inspiring SME!

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Scopus Export 1990s

Small business growth through geographic expansion: A comparative case study

Bruce R. Barringer , University of Central Florida Daniel W. Greening , University of Missouri

Although the small business sector as a whole is achieving phenomenal growth, an important concern in the field has been identifying the problems, challenges, and success characteristics associated with the prudent growth of individual firms. A strategy utilized by many small firms to achieve their growth objectives is one of geographic expansion. This approach involves expanding a firm's business from its original location to one or more additional geographic sites, and is particularly well suited for firms that cannot expand in their present location but believe that their products or services may be appealing to consumers in other markets. Surprisingly, despite the prevalence of geographic expansion as a means of small firm growth, this is a neglected area of small business research. Although researchers have examined the common challenges associated with small firm growth, a small business that expands from one location to several locations is subject to a number of potentially unique challenges. For example, during the course of opening a new geographic site, a small business manager will be confronted with the task of managing an existing business and a start-up at the same time. The challenge created by this undertaking, along with the other challenges associated with geographic expansion, have not been specifically identified. An improved understanding of these challenges may help small firm managers maximize their changes of leading successful expansion efforts. As a result of the lack of research in this area, this study used a comparative case study methodology to develop a theoretical model of the antecedents of effective small business geographic expansion. The model was developed in two steps. First, a preliminary model of the antecedents of effective small business geographic expansion was developed from the existing small business growth literature. Second, using analytic induction, the preliminary model was compared with the experiences of five small businesses that have engaged in a growth strategy of geographic expansion for the purpose of developing a more thorough and more valid theoretical model. A unique attribute of the sample is that not all of the businesses have been successful in their expansion efforts. Two of the five small businesses included in the study have had failed expansions, providing us the rare opportunity to contrast failed expansion efforts against successful ones. The model that emerged from this approach supports the notion that geographic expansion involves a unique set of managerial challenges. The consistent evidence across the five case studies indicated that effective small business geographic expansion involves the following six major areas of concern: planning for growth, managing growth, reasons for growth, expansion site characteristics, a set of moderator variables, and expansion performance. Among the implications of the study is that the unique nature of the geographic expansion process adds a layer of complexity to firm growth that exacerbates the need for planning. Along with the normal challenges involved with adding structure to accommodate growth, a firm that engages in geographic expansion must do this in an unfamiliar location, where the market potential and legitimacy of the firm's business concept is untested. The consistent evidence that emerged from the cases is that planning helps attenuate these challenges. In addition, the recruitment and selection of qualified personnel to staff expansion sites is a critical activity, along with networking in the expansion site locations to establish organizational legitimacy. Three variables were found to moderate the relationship between managing growth and expansion performance. Learning and flexibility were found to have a positive influence on the managing growth expansion performance relationship, whereas environmental turbulence was found to have the opposite impact. Finally, a complex set of relationships emerged from the study pertaining to expansion site characteristics. For instance, the evidence generated across the cases suggested that planning helps a firm develop a set of heuristics for expansion site selection, which helps a firm avoid placing a site in an undesirable location. © 1998 Elsevier Science Inc.

Publication Date

Publication title.

Journal of Business Venturing

Number of Pages

Document type, personal identifier.

https://doi.org/10.1016/S0883-9026(97)00038-4

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0039165808 (Scopus)

Source API URL

https://api.elsevier.com/content/abstract/scopus_id/0039165808

STARS Citation

Barringer, Bruce R. and Greening, Daniel W., "Small business growth through geographic expansion: A comparative case study" (1998). Scopus Export 1990s . 3260. https://stars.library.ucf.edu/scopus1990/3260

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7 Favorite Business Case Studies to Teach—and Why

Explore more.

• Case Teaching
• Course Materials

FEATURED CASE STUDIES

The Army Crew Team . Emily Michelle David of CEIBS

ATH Technologies . Devin Shanthikumar of Paul Merage School of Business

Fabritek 1992 . Rob Austin of Ivey Business School

Lincoln Electric Co . Karin Schnarr of Wilfrid Laurier University

Pal’s Sudden Service—Scaling an Organizational Model to Drive Growth . Gary Pisano of Harvard Business School

The United States Air Force: ‘Chaos’ in the 99th Reconnaissance Squadron . Francesca Gino of Harvard Business School

Warren E. Buffett, 2015 . Robert F. Bruner of Darden School of Business

To dig into what makes a compelling case study, we asked seven experienced educators who teach with—and many who write—business case studies: “What is your favorite case to teach and why?”

The resulting list of case study favorites ranges in topics from operations management and organizational structure to rebel leaders and whodunnit dramas.

1. The Army Crew Team

Emily Michelle David, Assistant Professor of Management, China Europe International Business School (CEIBS)

“I love teaching  The Army Crew Team  case because it beautifully demonstrates how a team can be so much less than the sum of its parts.

I deliver the case to executives in a nearby state-of-the-art rowing facility that features rowing machines, professional coaches, and shiny red eight-person shells.

After going through the case, they hear testimonies from former members of Chinese national crew teams before carrying their own boat to the river for a test race.

The rich learning environment helps to vividly underscore one of the case’s core messages: competition can be a double-edged sword if not properly managed.

Executives in Emily Michelle David’s organizational behavior class participate in rowing activities at a nearby facility as part of her case delivery.

Despite working for an elite headhunting firm, the executives in my most recent class were surprised to realize how much they’ve allowed their own team-building responsibilities to lapse. In the MBA pre-course, this case often leads to a rich discussion about common traps that newcomers fall into (for example, trying to do too much, too soon), which helps to poise them to both stand out in the MBA as well as prepare them for the lateral team building they will soon engage in.

Finally, I love that the post-script always gets a good laugh and serves as an early lesson that organizational behavior courses will seldom give you foolproof solutions for specific problems but will, instead, arm you with the ability to think through issues more critically.”

2. ATH Technologies

Devin Shanthikumar, Associate Professor of Accounting, Paul Merage School of Business

“As a professor at UC Irvine’s Paul Merage School of Business, and before that at Harvard Business School, I have probably taught over 100 cases. I would like to say that my favorite case is my own,   Compass Box Whisky Company . But as fun as that case is, one case beats it:  ATH Technologies  by Robert Simons and Jennifer Packard.

ATH presents a young entrepreneurial company that is bought by a much larger company. As part of the merger, ATH gets an ‘earn-out’ deal—common among high-tech industries. The company, and the class, must decide what to do to achieve the stretch earn-out goals.

ATH captures a scenario we all want to be in at some point in our careers—being part of a young, exciting, growing organization. And a scenario we all will likely face—having stretch goals that seem almost unreachable.

It forces us, as a class, to really struggle with what to do at each stage.

After we read and discuss the A case, we find out what happens next, and discuss the B case, then the C, then D, and even E. At every stage, we can:

see how our decisions play out,

figure out how to build on our successes, and

address our failures.

The case is exciting, the class discussion is dynamic and energetic, and in the end, we all go home with a memorable ‘ah-ha!’ moment.

I have taught many great cases over my career, but none are quite as fun, memorable, and effective as ATH .”

3. Fabritek 1992

Rob Austin, Professor of Information Systems, Ivey Business School

“This might seem like an odd choice, but my favorite case to teach is an old operations case called  Fabritek 1992 .

The latest version of Fabritek 1992 is dated 2009, but it is my understanding that this is a rewrite of a case that is older (probably much older). There is a Fabritek 1969 in the HBP catalog—same basic case, older dates, and numbers. That 1969 version lists no authors, so I suspect the case goes even further back; the 1969 version is, I’m guessing, a rewrite of an even older version.

There are many things I appreciate about the case. Here are a few:

It operates as a learning opportunity at many levels. At first it looks like a not-very-glamorous production job scheduling case. By the end of the case discussion, though, we’re into (operations) strategy and more. It starts out technical, then explodes into much broader relevance. As I tell participants when I’m teaching HBP's Teaching with Cases seminars —where I often use Fabritek as an example—when people first encounter this case, they almost always underestimate it.

It has great characters—especially Arthur Moreno, who looks like a troublemaker, but who, discussion reveals, might just be the smartest guy in the factory. Alums of the Harvard MBA program have told me that they remember Arthur Moreno many years later.

Almost every word in the case is important. It’s only four and a half pages of text and three pages of exhibits. This economy of words and sparsity of style have always seemed like poetry to me. I should note that this super concise, every-word-matters approach is not the ideal we usually aspire to when we write cases. Often, we include extra or superfluous information because part of our teaching objective is to provide practice in separating what matters from what doesn’t in a case. Fabritek takes a different approach, though, which fits it well.

It has a dramatic structure. It unfolds like a detective story, a sort of whodunnit. Something is wrong. There is a quality problem, and we’re not sure who or what is responsible. One person, Arthur Moreno, looks very guilty (probably too obviously guilty), but as we dig into the situation, there are many more possibilities. We spend in-class time analyzing the data (there’s a bit of math, so it covers that base, too) to determine which hypotheses are best supported by the data. And, realistically, the data doesn’t support any of the hypotheses perfectly, just some of them more than others. Also, there’s a plot twist at the end (I won’t reveal it, but here’s a hint: Arthur Moreno isn’t nearly the biggest problem in the final analysis). I have had students tell me the surprising realization at the end of the discussion gives them ‘goosebumps.’

Finally, through the unexpected plot twist, it imparts what I call a ‘wisdom lesson’ to young managers: not to be too sure of themselves and to regard the experiences of others, especially experts out on the factory floor, with great seriousness.”

4. Lincoln Electric Co.

Karin Schnarr, Assistant Professor of Policy, Wilfrid Laurier University

“As a strategy professor, my favorite case to teach is the classic 1975 Harvard case  Lincoln Electric Co.  by Norman Berg.

I use it to demonstrate to students the theory linkage between strategy and organizational structure, management processes, and leadership behavior.

This case may be an odd choice for a favorite. It occurs decades before my students were born. It is pages longer than we are told students are now willing to read. It is about manufacturing arc welding equipment in Cleveland, Ohio—a hard sell for a Canadian business classroom.

Yet, I have never come across a case that so perfectly illustrates what I want students to learn about how a company can be designed from an organizational perspective to successfully implement its strategy.

And in a time where so much focus continues to be on how to maximize shareholder value, it is refreshing to be able to discuss a publicly-traded company that is successfully pursuing a strategy that provides a fair value to shareholders while distributing value to employees through a large bonus pool, as well as value to customers by continually lowering prices.

However, to make the case resonate with today’s students, I work to make it relevant to the contemporary business environment. I link the case to multimedia clips about Lincoln Electric’s current manufacturing practices, processes, and leadership practices. My students can then see that a model that has been in place for generations is still viable and highly successful, even in our very different competitive situation.”

5. Pal’s Sudden Service—Scaling an Organizational Model to Drive Growth

Gary Pisano, Professor of Business Administration, Harvard Business School

“My favorite case to teach these days is  Pal’s Sudden Service—Scaling an Organizational Model to Drive Growth .

I love teaching this case for three reasons:

1. It demonstrates how a company in a super-tough, highly competitive business can do very well by focusing on creating unique operating capabilities. In theory, Pal’s should have no chance against behemoths like McDonalds or Wendy’s—but it thrives because it has built a unique operating system. It’s a great example of a strategic approach to operations in action.

2. The case shows how a strategic approach to human resource and talent development at all levels really matters. This company competes in an industry not known for engaging its front-line workers. The case shows how engaging these workers can really pay off.

3. Finally, Pal’s is really unusual in its approach to growth. Most companies set growth goals (usually arbitrary ones) and then try to figure out how to ‘backfill’ the human resource and talent management gaps. They trust you can always find someone to do the job. Pal’s tackles the growth problem completely the other way around. They rigorously select and train their future managers. Only when they have a manager ready to take on their own store do they open a new one. They pace their growth off their capacity to develop talent. I find this really fascinating and so do the students I teach this case to.”

6. The United States Air Force: ‘Chaos’ in the 99th Reconnaissance Squadron

Francesca Gino, Professor of Business Administration, Harvard Business School

“My favorite case to teach is  The United States Air Force: ‘Chaos’ in the 99th Reconnaissance Squadron .

The case surprises students because it is about a leader, known in the unit by the nickname Chaos , who inspired his squadron to be innovative and to change in a culture that is all about not rocking the boat, and where there is a deep sense that rules should simply be followed.

For years, I studied ‘rebels,’ people who do not accept the status quo; rather, they approach work with curiosity and produce positive change in their organizations. Chaos is a rebel leader who got the level of cultural change right. Many of the leaders I’ve met over the years complain about the ‘corporate culture,’ or at least point to clear weaknesses of it; but then they throw their hands up in the air and forget about changing what they can.

Chaos is different—he didn’t go after the ‘Air Force’ culture. That would be like boiling the ocean.

Instead, he focused on his unit of control and command: The 99th squadron. He focused on enabling that group to do what it needed to do within the confines of the bigger Air Force culture. In the process, he inspired everyone on his team to be the best they can be at work.

The case leaves the classroom buzzing and inspired to take action.”

7. Warren E. Buffett, 2015

Robert F. Bruner, Professor of Business Administration, Darden School of Business

“I love teaching   Warren E. Buffett, 2015  because it energizes, exercises, and surprises students.

Buffett looms large in the business firmament and therefore attracts anyone who is eager to learn his secrets for successful investing. This generates the kind of energy that helps to break the ice among students and instructors early in a course and to lay the groundwork for good case discussion practices.

Studying Buffett’s approach to investing helps to introduce and exercise important themes that will resonate throughout a course. The case challenges students to define for themselves what it means to create value. The case discussion can easily be tailored for novices or for more advanced students.

Either way, this is not hero worship: The case affords a critical examination of the financial performance of Buffett’s firm, Berkshire Hathaway, and reveals both triumphs and stumbles. Most importantly, students can critique the purported benefits of Buffett’s conglomeration strategy and the sustainability of his investment record as the size of the firm grows very large.

By the end of the class session, students seem surprised with what they have discovered. They buzz over the paradoxes in Buffett’s philosophy and performance record. And they come away with sober respect for Buffett’s acumen and for the challenges of creating value for investors.

Surely, such sobriety is a meta-message for any mastery of finance.”

More Educator Favorites

Emily Michelle David is an assistant professor of management at China Europe International Business School (CEIBS). Her current research focuses on discovering how to make workplaces more welcoming for people of all backgrounds and personality profiles to maximize performance and avoid employee burnout. David’s work has been published in a number of scholarly journals, and she has worked as an in-house researcher at both NASA and the M.D. Anderson Cancer Center.

Devin Shanthikumar  is an associate professor and the accounting area coordinator at UCI Paul Merage School of Business. She teaches undergraduate, MBA, and executive-level courses in managerial accounting. Shanthikumar previously served on the faculty at Harvard Business School, where she taught both financial accounting and managerial accounting for MBAs, and wrote cases that are used in accounting courses across the country.

Robert D. Austin is a professor of information systems at Ivey Business School and an affiliated faculty member at Harvard Medical School. He has published widely, authoring nine books, more than 50 cases and notes, three Harvard online products, and two popular massive open online courses (MOOCs) running on the Coursera platform.

Karin Schnarr is an assistant professor of policy and the director of the Bachelor of Business Administration (BBA) program at the Lazaridis School of Business & Economics at Wilfrid Laurier University in Waterloo, Ontario, Canada where she teaches strategic management at the undergraduate, graduate, and executive levels. Schnarr has published several award-winning and best-selling cases and regularly presents at international conferences on case writing and scholarship.

Gary P. Pisano is the Harry E. Figgie, Jr. Professor of Business Administration and senior associate dean of faculty development at Harvard Business School, where he has been on the faculty since 1988. Pisano is an expert in the fields of technology and operations strategy, the management of innovation, and competitive strategy. His research and consulting experience span a range of industries including aerospace, biotechnology, pharmaceuticals, specialty chemicals, health care, nutrition, computers, software, telecommunications, and semiconductors.

Francesca Gino studies how people can have more productive, creative, and fulfilling lives. She is a professor at Harvard Business School and the author, most recently, of  Rebel Talent: Why It Pays to Break the Rules at Work and in Life . Gino regularly gives keynote speeches, delivers corporate training programs, and serves in advisory roles for firms and not-for-profit organizations across the globe.

Robert F. Bruner is a university professor at the University of Virginia, distinguished professor of business administration, and dean emeritus of the Darden School of Business. He has also held visiting appointments at Harvard and Columbia universities in the United States, at INSEAD in France, and at IESE in Spain. He is the author, co-author, or editor of more than 20 books on finance, management, and teaching. Currently, he teaches and writes in finance and management.

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How to write a good case study for business growth

Being the most successful business owner is a goal you should strive for when running a company . That being said, having a good case study in place time and time again to grow your business is something not to overlook. With a sound case study model to work from, you can show prospective clients all the good things you’ve done for customers.

How to write a case study

Getting your case study in order, how to promote your case study, learning from each case study you do.

So, it’s imperative that you know how to do a case study. When writing yours for business growth, will you nail it?

In determining why a case study is important to you and your business, here are some areas to hone in on:

• Prospects – A sound case study shows prospects why your brand is worth their time.
• Be relatable – Many people tend to buy products and services that they can relate to. This is also true of businesses in need of supplies and other services to stay operational. Seeing others having success with your brand can tempt prospects. That is into giving you a look and ultimately becoming one of your clients.
• Education – Having a case study that digs into a challenging topic can educate others. As an example, just say you are in the medical field and sell products or services to other businesses. These are products or services that can be a little complicated to explain. This would be to a novice or even someone in the business for a while. With a case study in hand, you can better educate prospective clients.
• Stand out – One of the big challenges a business can face is being seen as credible in their industry. With your case study showing your worth, you can be viewed as a go-to option in your line of work. You’ll want to show how you’ve helped grow a client’s sales and revenue, solved problems they were having, and more.

Before you can even put pen to paper or in this case computer, you’ll need the permission of a client. That is so you can interview the client to highlight how you have helped them.

• How to think innovatively and grow your business
• How to make your own brand for your business
• How to promote personal growth and development in the workplace

The goal here is to impress upon the client why a case study is beneficial to them.

Among the reasons would be more traffic to their website. It can also be potential for more sales and revenue. Finally, it can mean standing out as a leader in their respective industry.

When it comes to writing a standout case study, go right to the meat and potatoes of how you are helping clients. You have to keep in mind that there is a ton of info out there on the information highway.

As such, too many prospective clients can get a little overwhelmed. That is when they do a Google search for products and services that may benefit their businesses. Know that many of these prospects do not have the time or patience to weed through all that information. Use your case study as a way of differentiating your business from that of the competition.

Differentiating yourself from the competition can be why your brand is better than others. It can also be how you help business clients grow their own brands and why your customer service is second to none.

That case study can also lead others to recommend your brand. This would be to family, friends and other brands they know who’d benefit from doing business with you. At the end of the day, your goal is to put together a case study that will encourage a prospect to do business with you.

Even if you’ve put together what you feel is the best case study, what good will it do you if too few prospects know about it?

That said you’ll want to get your case study in front of as many eyes and ears as possible. As an example, you can use your company website to help promote and highlight your case study.

Make sure your website is updated on a regular basis and is easy to navigate. The last thing you want is a website that is a maze to work through. Also avoid one with too many broken links. Another problem is one that ranks low within your industry in Google searches. As you have other key website sections (products and services, contact info etc.), you can have one dedicated to case studies.

Another option along with your website would be to use social media. That is to let the world know of how your business sets itself apart from others. Use Facebook, Instagram, YouTube, and other platforms to get your case study out there to the world.

Much like your website, keep your social platforms updated. Also, promote them as often as possible to grow your audience.

One of the growing forms of communication in the business world over the last several decades has been the podcast. Statista.com reported that more than 50% of all U.S. consumers ages 12 and above are podcast listeners.

So, you may want to do some podcasts to alert prospects on why your clients benefit from doing business with you. Once you have a case study podcast with a client ready to go, make sure you market the heck out of it. No matter how you promote your case study efforts, make sure the word is getting out there.

Like anything in life, there is much to learn. With that in mind, learn from each case study you do. See what works, what does not, and how best to improve upon your efforts moving ahead. You can also look at some brand examples of case studies.

While you never want to copy another company’s study, you may pick up pointers you can then apply to your studies. At the end of the day, writing good case studies can benefit your brand on a case-by-case basis.

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• Case studies

Optimizing sales growth has never relied upon intuition or guesswork. Rather, data and facts rule the day when it comes to increasing sales and growing your business. However, you have to know how to analyze sales data in order to make the most informed, data-backed decisions possible.

Moreover, you need to conduct sales analyses on a regular basis. When you do, you’ll gain incredible intelligence on things like team performance and your sales strategy. When it comes to optimizing growth, sales analysis can provide an edge that you’d be foolish to dismiss.

All too frequently, neither motivation nor inspiration gets the spotlight they deserve when it comes to getting employees to be the best they can be. It's often a challenge for executives and managers to focus on and utilize the right motivational and inspirational techniques to transform a mediocre boss into an outstanding leader.

Moreover, when you're able to fire up your employees, it's good for the company's bottom line. Motivated employees work harder for the business' collective good and ultimate success. If you've found yourself casting about, wondering how to inspire employees in the most effective ways possible, you're in luck.

Case studies are used by businesses for marketing purposes all the time. Their goal is most often to show how a product or service has been used successfully by a company’s customers. Instead of advertising materials, which generally talk about a product or service and sing its praises and describe features, case studies allow businesses to show what life was like before and after using a product or service.

But, other than being a great “before and after” tool, why are case studies important for your company? The answer is that testimonials, reviews, and other forms of social proof don’t tell the whole story. A case study, which provides evidence-based information can help persuade customers in a way the previously mentioned types of social proof cannot.

International Expansion

A professional employer services organization asked Metis Strategy to investigate the feasibility of transferring the its U.S. business models, partially or completely, to its target markets in Europe. The client also wanted to understand which potential target countries in Europe would align best with its growth strategy.

In the second case, a Fortune 500 wine and spirits company, hoping to increase its growth in China, hired Metis Strategy to research and analyze consumption trends and preferences there.

In both cases, Metis Strategy uses its International Expansion Framework to help clients achieve their goals (see image below).

• Define Strategic Objectives for Expansion:  International expansion is influenced by both external and internal factors. Once a company’s international expansion objectives are defined, they should be aligned with the organization’s broader corporate or enterprise strategy.
• Decide on Desired Entry Modes: This step includes assessing and weighting relevant target markets in alignment with both corporate strategies and growth objectives. It takes into account political, economic, cultural, and legal factors when identifying and prioritizing targets for investment. Risk-reward analyses and a variety of scenario-planning exercises are used to gauge the viability of each entry strategy.

Metis Strategy helped the professional employer services client identify and develop feasible business models in accordance with unique legal, cultural, and regulatory conditions in the its target markets. Additionally, Metis Strategy identified the client’s most promising target market, based on country-specific risk-reward analyses and country-by-country comparisons, and developed various market entry options, including potential acquisitions or partnerships.

In the second case, Metis Strategy provided the wine and spirits company with a detailed breakdown of the differences between its traditional markets and China, including contrasts in business climate, regulatory environment, and consumer preferences. The insights helped the client consider its growth scenarios for the Chinese market and evaluate new ways to capture market share.

Related case studies

Case studies, enterprise architecture strategy, business process optimization, change management, performance management.

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To Accelerate Growth, Analyze Your Company Like an Investor

• Jason McDannold,
• Hoyoung Pak

Companies rarely apply the principles of due diligence internally, but they can reveal where the opportunities are and what is achievable.

Private equity (PE) firms have a proven approach to identify areas for revenue growth, value creation, and cost reduction: due diligence. But companies rarely use this same approach in the execution of their own growth strategy. This is a missed opportunity. The same due diligence skills and tools can be found in most large companies, but they are usually siloed in the corporate development team — the folks who handle M&A, who rarely have a chance to apply their expertise to a company’s ongoing operations. There’s no reason to limit due diligence to the context of an acquisition. In this article, the authors cover a few steps from the due-diligence playbook that all companies can apply to growth strategy.

We understand the frustration of waiting for growth plans to kick in and deliver the promised results. Too often, plans laid in the autumn and enshrined in the budget don’t start producing results until well into the next year — and then, because of the slow start, deliver a fraction of what they promised. Moreover, growth initiatives tend to focus narrowly on specific areas, yielding short-term gains without enhancing overall enterprise capabilities for sustained growth.

• Jason McDannold is a partner and managing director at AlixPartners, where he is co-leader of the firm’s Private Equity and Investors practice.
• Yale Kwon is a partner at AlixPartners in the firm’s Private Equity practice focusing on value acceleration. He holds an MBA from Northwestern Kellogg School of Management.
• Hoyoung Pak is a partner and managing director at AlixPartners, and is the Global Co-leader of the firm’s AI and Data Practice.

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