Introduction:

To compete successfully in today's global economy, the internationalisation of a business is essential. The
numerous routes to internationalisation, as well as the opportunities and constraints of different markets
and countries, must be understood in order to successfully navigate the intricacies of worldwide
expansion. This study reviews the most relevant and important research published recently on the many
routes towards internationalisation.

Market selection, strategic assets, local market adaptation, and internal competencies and resources are
only some of the topics covered in the literature review that are important for businesses to think about
when formulating an internationalisation plan (Andersson, S., & Evers, N. 2017). This article
examines recent scholarship on these issues in order to provide light on how businesses might achieve
sustainable growth on a global scale while avoiding the pitfalls that often accompany going global.

The paper uses a case study of HSBC, a multinational bank that has grown its operations around the
world, to demonstrate these ideas. By taking a look at HSBC's internationalisation strategy, we can see
how the bank made use of its in-house strengths, strengthened its global supply chain, and entered
previously untapped areas. The case study emphasises the value of planning and strategy when expanding
internationally, considering both the opportunities and threats presented by the global market and the
specific strengths and limitations of the organisation being expanded.

In sum, this research is helpful for both academics studying the process of internationalisation and
businesses looking to grow their operations abroad (Arora, R., & Sharma, A., 2021). Successful
internationalisation strategies consider a company's specific strengths and weaknesses as well as the
opportunities and challenges presented by the global marketplace. Understanding the key themes and
trends in recent scholarship on internationalisation can help with this process.
Part -1

Internationalization entails many strategic decisions and efforts to expand a company's operations beyond
its native market. Recent scholarship has examined the methods, variables, and obstacles corporations
encounter while entering new markets. This literature review covers significant issues and trends in
contemporary internationalisation research.

Recent research emphasises market selection in internationalisation. Research suggests that organisations
that choose the correct market and time for internationalisation are more likely to succeed (Sánchez-
Vidal, M. E., & Gutiérrez-Villar, B., 2019). Researchers recommend considering market size, growth
potential, competitive intensity, cultural fit, and regulatory environment while choosing a market.

Strategic assets in internationalisation are another major theme. Ownership, location, and internalisation
advantages can help organisations compete in new markets, according to scholars (Chiriac, A. R., &
Chiriac, E. S., 2018). Ownership benefits include firm-specific technology, brand reputation, and
management knowledge. Location advantages include resource availability and favourable regulations.
Internalising the value chain offers lower transaction costs and more control.

Adapting to local markets and cultures is a third theme. Researchers advise corporations to grasp local
preferences, norms, and cultures and customise their products and services to local demand. Companies
must be flexible and create local relationships to harness local skills and networks.

Finally, experts have stressed a firm's internal capabilities and resources in internationalisation.
Innovation, R&D, and marketing are key to new market success (Delios, A., & Beamish, P. W., 2021).
To successfully distribute products and services in new markets, experts have stressed the significance of
a strong global supply chain.

In conclusion, contemporary research on internationalisation has stressed market selection, strategic

assets, adjusting to local market conditions, and internal talents and resources (Lee, J. Y., & Kim, K.
H., 2018). Companies can manage worldwide expansion and achieve sustainable growth in the global
market by comprehending these elements and having a clear internationalisation strategy.
Part-2

HSBC has a strong history of internationalisation. HSBC, founded in Hong Kong in 1865, serves
approximately 40 million customers in 60 countries and territories. This case study examines HSBC's
internationalisation and success factors.

In the early 20th century, HSBC opened branches in Asia, Europe, and North America. HSBC
aggressively acquired UK, European, and North American banks throughout the 1980s and 1990s. HSBC
began focusing on emerging markets, particularly Asia, in the early 2000s.

HSBC's internationalisation strategy follows the Uppsala model, which stresses progressive and
experiential learning (Buckley, P. J., & Ghauri, P. N., 2015). HSBC's expansion strategy has been
methodical and step-by-step, focusing on markets where it is strong and exploiting its skills to enter new
markets.

HSBC's ability to adapt to local markets and cultures has helped it internationalise. HSBC hires locals and
offers localised products and services in each market it operates in. In emerging areas, HSBC has actively
built local ties.

HSBC's internationalisation expertise suggests numerous steps for corporations entering new markets.
Market research should first determine local preferences, regulatory needs, and cultural variations.
Second, companies should create an internationalisation strategy that matches their goals and capabilities.
Finally, firms should partner with local experts and networks. Fourth, organisations must adapt to
changing market conditions and client needs.

Finally, HSBC's internationalisation path illuminates successful internationalisation characteristics. This

case study can help organisations expand into new markets and grow sustainably globally.
Conclusion:

Market selection, strategic assets, local market adaptation, and internal competencies and
resources have all been highlighted in recent research on the routes to internationalisation.
Companies can successfully traverse the complexity of international expansion and achieve
sustainable growth in the global market if they have a clear internationalisation strategy and are
aware of these aspects. The HSBC case study highlights the significance of planning and strategy
in worldwide expansion, with specific emphasis on establishing a reliable global supply chain
and capitalising on existing strengths.
References:

Andersson, S., & Evers, N. (2017). The effects of institutional and business networks on SME
internationalisation: Evidence from the Swedish banking industry. European Journal of
International Management, 11(1), 25-49.

Arora, R., & Sharma, A. (2021). Internationalisation of Indian Banks and their Role in the
Global Economy. Journal of Commerce and Accounting Research, 10(1), 11-18.

Buckley, P. J., & Ghauri, P. N. (2015). Internationalisation as a Learning Process: Insights from
the Expansion of HSBC. Journal of International Business Studies, 46(2), 167-186.

Chiriac, A. R., & Chiriac, E. S. (2018). Internationalisation strategy and performance of

European banks in the post-crisis period. European Journal of International Management, 12(3),
269-289.

Delios, A., & Beamish, P. W. (2021). Internationalisation: The Evolution of a Field. Journal of
International Business Studies, 52(6), 905-936.

Lee, J. Y., & Kim, K. H. (2018). The Relationship between Internationalisation and Firm
Performance in the Banking Sector: A Comparative Study of Korea and Malaysia. Sustainability,
10(3), 1-18.

Sánchez-Vidal, M. E., & Gutiérrez-Villar, B. (2019). Internationalisation Strategies of Banks in

the European Union: A Comparative Analysis. European Research on Management and Business
Economics, 25(3), 146-153.