Designing a business model for SMEs global expansion: the case of WET in Hong Kong

Based on findings from Waste and Environmental Technologies Ltd. (WET) where I worked as director, this report demonstrates how WET as a Hong Kong-based small-medium enterprise (SME) succeeded to expand globally and build its international presence by establishing satellite operations, wherever the opportunity arises. It addresses internationalisation of expertise and technology by looking into the development of a patented invention, namely the WetSep system, to meet the needs of customers worldwide, supported by case studies of its success and failures in entering new markets.
The major focus of the whole report can be categorised into four phases, namely review of existing business model and marketing strategy; case studies in Hong Kong, Australia and selected other countries from WET’s twenty years of operation; analysis of the case studies; and development of a future internationalisation strategy. I provided a detailed analysis of the business model and marketing strategy adopted for the long-term internationalisation for WET. My findings are that the 4 Is – Innovation (uniqueness and creative product of the business), Incubation, Intellectual Property and Integration (of technology) – are crucial in promoting the success of SMEs in internationalisation and business operation. Once a new idea is raised, the company should provide facilities and a good system to incubate and create solid ground for the development of the new idea. Moreover, key resources, key activities, key partners and market characteristics are important attributes for internationalisation. WET had been benefited from International Soft Landing Programme in Sydney Australia where WET’s 4 Is principle was well acknowledged for entering the programme.
To conclude, I recommend that other SMEs follow the 4 Is principle when planning to expand their business internationally and always be open to changes. This Research Project Report hopes to prompt other SMEs to adopt a similar business approach based on WET’s 4 Is principle and internationalisation strategy.