Navigating sustainability: Finnish companies’ strategic entry into the Portuguese renewable energy market
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School of Business |
Master's thesis
Authors
Date
2024
Department
Major/Subject
Mcode
Degree programme
Creative Sustainability
Language
en
Pages
92
Series
Abstract
This thesis thoroughly examines factors that influence the strategic choices and selection mechanisms of Finnish companies in the renewable energy sector when considering entering the Portuguese market. A shift towards sustainable energy solutions can be seen by global environmental concerns, and this study accentuates the significance of understanding the effect internal capabilities and external market conditions have on guiding international market entry strategies. Applying the theoretical principles of both international business and sustainable development, this research implements a qualitative methodology to examine interactions between company-specific proficiencies and the regulatory, economic, and technological framework of the market. Through extensive literature reviews, with the addition of semi-structured interviews with executives from Finnish renewable energy companies, the study is conducted on an empirical basis. The results of this study indicate that Finnish companies strategically select the Portuguese market due to its accommodating regulatory conditions, dedication to renewable energy targets, and the potential for consistent market demand. The technological innovation, international executive experience, and strategic business model adaptations can be seen as key internal factors in a company’s capability to leverage opportunities in foreign markets in an effective way. The study emphasizes the importance of strategic alliances and local partnership in facilitating market entry and expansion. The research augments insight into the correlation between expansion strategies in the renewable energy sector and sustainable business practices. It offers crucial perspectives for legislators intending to enhance the appeal of their markets for foreign investments and industry captains striving for enhancement in their international strategies in line with the set sustainability goals. Emerging research trajectories include a comparative analysis of distinct European markets to validate the findings and extend the comprehensiveness and generalizability of the developed strategic frameworks. This thesis aims to amplify the understanding of entering the international market in the renewable energy sector, while also providing a practical framework that can be used as a tool to assist companies and legislators in navigating the challenges of sustainable market expansion.Description
Thesis advisor
Patala, SamuliKeywords
market entry, strategy, renewable energy, sustainability