An entropy-based SWOT evaluation process of critical success factors for international market entry: a case study of a medium-sized consulting company

Abstract

In the UK, construction companies are striving for survival and stable business growth during the economic recession, with many companies exploring the expansion of international business. The strengths, weaknesses, opportunities and threats (SWOT) in relation to international business are well understood; however, in existing literature little emphasis has been placed on the associated critical success factors (CSFs) and their evaluation. The aim is to identify relevant CSFs that can potentially influence the success of international projects. A questionnaire was undertaken to investigate 11 pre-identified common CSFs categories, and 25 SWOT individual factors relevant to a leading international medium-sized consultancy company in the UK. The data were evaluated by using the quantitative method of entropy ranking and SWOT qualitative analysis. Political, physical and corruption factors were found to be the most significant factors to the success of international projects. The findings examine a measure of entropy-based SWOT method to remove uncertainty between respondents (multi-objectives) during the evaluation of CSFs, which is supportive of an accurate, reliable and reasonable basis for the decision-making process. Substantial evidence is also provided regarding the identification and evaluation of CSFs that potentially affect the success of international projects for a medium-sized UK consulting company, when deciding about expansion into the international market.