Securing Global Reach: SecureTechs International Expansion Plan

Abstract

International Expansion: New Venture [Name] [University] BUS638: International Business (FTL2439C) [Instructor Name] October 14, 2024 International Expansion: New Venture SecureTech’s planned international expansion over the next five years should focus on the viability of the markets for information security and cloud services. Mexico, India, and Canada offer viable options for the company’s growth strategy that would ensure the firm’s establishment in the global technology market. Mexico’s proximity to the United States and its growing economy demonstrate the market’s potential for information security firms. India has a modernized economy with an expanding information security sector that is likely to grow over the next decade (Da Veiga et al., 2020). As a developed country in the Americas, Canada presents SecureTech with an ideal market for its services. SecureTech should target Mexico, India, and Canada as targets of its international expansion since they offer opportunities for growth in the information security sector over the next decade. Company Background SecureTech is a midsized cloud and security services company with its headquarters in [City, State]. The company was founded in 2015 and operates in four locations in [City, State], and Missouri with a workforce of 275 employees. SecureTech offers a wide range of internet security services and cloud storage for individuals and organizations. It has experienced significant growth in the United States over the past nine years and would benefit from international expansion to increase the size of the target market. SecureTech has invested in research and innovation in the information security sector to improve the quality of services it offers its customers (Demirkan et al., 2020). By employing a matrix organizational sector, the leadership of the company increases efficiency and promotes synergy among the employees in different departments. The expansion of the company into three major international markets over the next five would increase the company’s potential revenue and profits for its shareholders. Figure 1 below shows the prospective revenue and profits over the next five years during the international expansion process. Figure 1 Projections for Revenue and Profits over the Next Five Years Host Countries for International Expansion Mexico is a potential host country for SecureTech as a result of the growth of the technology industry in the market. The growth of information technology for use by organizations and individuals in the country makes it a viable market for the company. The organization seeks to mostly target organizational consumers such as small and medium-sized companies in need of information security services (Jauregui et al., 2021). To facilitate growth in this market, the company will target companies that should increase information security measures to protect their data. The appropriate mode of entry into the Mexican market is through exporting the company’s services to consumers in the country. SecureTech should markets its services...