Internationalization of SMEs
: a case study of the empresa de cervejas da Madeira

  • António Morgado (Student)

Student thesis: Master's Thesis


This thesis delves into the internationalization of Empresa de Cervejas da Madeira (ECM), a venerable enterprise with over 150 years of history, commanding an impressive 80% market share in the Autonomous Region of Madeira and achieving a remarkable presence in every continent globally. The case study meticulously examines the key drivers behind ECM's decision to venture into international markets and the strategies it employed for successful global market entry. The study highlights ECM's meticulous approach to the internationalization process, emphasizing the specific phases it navigated and the entry modes it adopted to maximize profits. Through a detailed analysis, this thesis uncovers the countless risks and opportunities that emerged from ECM's international expansion, as well as the diverse marketing strategies the company had to devise to overcome the challenges presented by different international markets. Furthermore, this thesis provides valuable insights into the significant impact of ECM's journey on the global business landscape. It offers a comprehensive view of how this centennial company, and others like it in the future, can achieve success in the global market. The findings of this study serve as a crucial reference point for SMEs aspiring to expand internationally, demonstrating the importance of strategic planning, market adaptation, and risk management in global business success.
Date of Award26 Jan 2024
Original languageEnglish
Awarding Institution
  • Universidade Católica Portuguesa
SupervisorRicardo Reis (Supervisor)


  • Internationalization process
  • Empresa de cervejas da Madeira
  • Local partners
  • Strategies
  • Adaptation


  • Mestrado em Gestão e Administração de Empresas

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