Shopee has become the largest e-commerce platform in Southeast Asia as of early 2022. Led by CEO Chris Feng, Shopee began its expansion beyond the region to the Americas, Europe and India. India is expected to surpass the U.S. to become the second largest e-commerce market in the world by the 2030s. Shopee entered the Indian market in mid-2021 to harness the opportunities stemming from favourable technological, socio-cultural, political and economic environments. Shopee consistently deployed its resources and capabilities from its playbook of strengths to catch up with incumbents such as Amazon India, Walmart-owned Flipkart, Tata Group and Reliance Industries. However, Shopee faced severe challenges - logistical issues, consumer distrust arising from rampant e-commerce fraud, difficult transition to digital payments, cut-throat competition, suspicions over its indirect ownership structure for market entry, resistance from local retailers and a tough legal and geopolitical landscape. CEO Chris Feng had had a tough choice to make - whether to stay or to go. Just months after entering India, Shopee announced in March 2022 that it would be closing its Indian operations. This case shed light on the trade-offs of this market exit and offers insights into international expansion to emerging markets amid environmental uncertainty.

Yankuang Group Company (YGC), a Chinese provincial state-owned enterprise (SOE), had over two decades of experience operating in the international market since its overseas initial public offering (IPO) in 1997. In 2013, YGC suffered great losses from an oversupply of coal production and a sharp decline of coal prices. How has YGC adjusted its internationalization process? The case highlights the key steps in the process and the impact of internal and external environment factors on the adjustment. It also illuminate the reforms of Chinese SOEs and the solutions to tackle challenges for running multi-national businesses.