A strategic investigation into the international market prospects and internationalisation of a proprietary regulatory reporting solution for banks : a case study

Abstract

The purpose of this study is primarily to investigate the various conditions that need to be considered for identifying potential markets in which to offer a regulatory reporting solution for banks. Simultaneously, the rationale behind electing three potential territories is presented, and an in-depth exploration for market opportunities is conducted. Design: The objectives were achieved by conducting case study research pertaining to a Maltese ICT company. Within this, in addition to secondary data being utilised as a market screening tool, primary data consisting of in-country interviews has also been incorporated. Findings: Findings show that a systematic process for screening and identifying potential markets may be constructed and applied as an integral part of the company's internationalisation process. This study therefore designs a curtailed market entry mode selection (MEMS) model as a fundamental part of the internationalisation case. Furthermore, when applied to organisational requirements, this construct identifies medium to long term prospects within two of the three countries investigated. Conclusion: Pursuant to gaps identified in conventional literature treating small firm internationalisation processes, this study reveals that by deploying an almost mechanical approach for market identification, decisions for market selection could be based largely on factual data, hence reducing common traits of entrepreneurial instinct, gut feelings, and tacit information. Although this has been acknowledged as a much needed component for the overall internationalisation process, it should not be regarded in its entirety. Significant importance must also be attributed to ancillary opportunities emanating from networks theory. This perspective is also emphasised within this study. Value: The model presented aids the studied organisation significantly for incorporating an efficient method to gain market intelligence. It is hoped that this contribution provides an adequate foundation for companies that are in the process of internationalising their offerings.