How can FSP scale up their business processes for international growth?

Abstract

During 2022, the world economy was thrown into chaos. As the Covid 19 pandemic lifted, Europe was once again at war for the first time since 1945. The ensuing energy crisis has touched all corners of the globe and resulted in companies and individuals facing increased costs and financial pressures. For many organisations, this additional cost pressure could be an existential threat and business leaders need to face these global dynamic forces with an agile and creative approach.

This study was commissioned by FSP For Surface Protection Oy, who are one of Europe’s leading industrial surface treatment companies. In 2024, FSP celebrated their 60th anniversary and this longevity is testament to their long-term experience, professional team, and close cooperation with their customers.

The goal of this study was to investigate how FSP could scale up their business processes for international growth. In an attempt to grow their business, FSP was seeking to expand beyond their country borders. A critical success factor in this journey is creating and implementing scaleable business processes that are universally applicable in all markets. This study aimed to identify tangible business process improvement initiatives and, if possible within the time frame, the initiatives would be implemented at FSP.

In order to achieve the study goals, the author explored several theories around Global Megatrends, Internationalisation, and Business Culture. It was hoped that by delving deeper into these topics, the author could reflect upon the literature throughout the research phase of this study, and critically appraise the findings based on the literature sources. The empirical research for this study was conducted via a Case Study approach as this helped facilitate an understanding of a phenomenon in a real life context. The qualitative data was collected by a semi-structured interview process and it was felt that a qualitative approach was the most suitable to satisfy the aims and objectives of the study. This study also sought to find a balance between research and development – at what point does research turn into development?

The original goals of this study were achieved and several business improvement ideas were identified and some were implemented. At the start of the study, the author had some preconceptions that shaped the literature review material. However, the study findings identified that some of the fundamental development areas at FSP were far simpler than originally thought.

As a result of this study, FSP has implemented a raft of improvement initiatives especially in the business areas of internal communication, and sales & marketing. This included social media campaigns aimed at boosting FSP’s brand awareness, an increased sales and marketing budget, and several other planned activities aimed at helping FSP scale up their business processes for international growth. However, this study found that the current economic climate and FSP’s financial situation does not support international growth aspirations in the short to medium term. Instead, this study proposes the stabilisation of the business followed by a roadmap of incremental changes towards a bigger and brighter future.