This chapter deals with the alternatives open to the firm and the motivation for internal (domestic) versus external (foreign) expansion. One of the very first decisions management must take is whether to concentrate on the domestic market, to expand abroad, or both. Suppose that it is decided to expand abroad. The next step is to locate specific market opportunities. Once promising markets are located, then an expansion strategy must incorporate issues such as competition analysis, market entry timing, and market targeting. This chapter presents the tools, methods, and theories for preparing these questions or issues and links them to business case examples to illustrate how theory and practice interlink. Small and medium enterprises tend to reflexively rely on non-equity modes of entry (exporting, licensing) because they would rather preserve capital and avoid high risks when moving into international markets. Speed is considered a time-based measure representing how fast a firm develops outlets abroad.