Sustainability and Circular Economy as Strategic Advantages for Finnish Companies Entering Singapore

Abstract

This thesis explores how Finnish companies can effectively enter the Singaporean market by leveraging sustainability as a competitive advantage. With global business increasingly focused on environmental responsibility, Singapore offers a dynamic market that emphasizes sustainability through government initiatives and consumer demand. This study examines the opportunities for Finnish companies to meet local sustainability expectations by focusing on circular economy principles, consumer preferences, and strategic partnerships. The study employs a mixed-method approach, analyzing opportunities and challenges using both quantitative surveys and qualitative interviews. The findings reveal that while Singaporean consumers are increasingly drawn to sustainable products and services, price sensitivity remains a critical element. To be successful, Finnish companies must strike a balance between sustainability and cost. Partnerships and product customization are also essential for meeting local regulations and consumer expectations. Drawing on these findings, practical recommendations are offered for Finnish companies, addressing both the challenges and opportunities presented by Singapore’s sustainability-focused market. It concludes that aligning business practices with local sustainability goals not only enhances brand reputation but also strengthens market competitiveness. Applying circular economy principles and forming strategic partnerships can help Finnish companies build a sustainable presence in Singapore.