Proposed Business Strategy for a Nonformal Architecture-Related Education Start-up (Case Study: Klass Academy)
##plugins.themes.bootstrap3.article.main##
Architecture is arguably one of the most complex and broad subjects, both for academic study and professional practice. Thus, many architecture students and practising architects participate in nonformal architecture-related learning activities. The COVID-19 pandemic has created an unprecedented impact on both formal and nonformal education systems worldwide; with the inevitable closure of schools and institutions, the sudden shift to virtual learning becomes mandatory. These drastic digital accelerations have caused the customers’ behaviour to change adaptively - the use of online education service and the market demands in nonformal education show an increasing trend.
This paper presents a contextual and relevant business strategy for Klass Academy - a startup company in nonformal educational business - amid the pandemic and post-pandemic scenarios. It will underpin how the company could maintain its competitiveness by first analysing the existing business condition - both externally and internally, using several tools and theories from the literature study: Market Analysis, Porter’s 5 Forces, and Research-Based View Analysis. The findings from conducted analysis determine the proposed business strategy recommendations - with the use of Ansoff matrix as an analysing tool. The formulated strategies in this paper are categorised as Product Development Strategy and Diversification Strategy.
Downloads
References
-
Kohli, S., Timelin, B., Fabius, V., & Veranen, S. M. (2020). How COVID-19 is changing consumer behavior –now and forever. McKinsey&Company.
Google Scholar
1
-
Purnamasari, D. (2017, Mei 2). Bisnis Industri Pendidikan yang Makin Diminati. Retrieved from tirto.id: https://tirto.id/bisnis-industri-pendidikan-yang-makin-diminati-cnRh.
Google Scholar
2
-
Ravenry. (2020). i360 Report Edutech Industry in Indonesia. Jakarta: Innovation Factory.
Google Scholar
3
-
Porter. (2008). The Five Competition Forces that Shape Strategy. Boston: Harvard.
Google Scholar
4
-
Rothaermel, F. T. (2012). Strategic Management : Concepts and Cases. McGraw-Hill/Irwin.
Google Scholar
5
-
Barney, J. B. (2001). Is the resource-based “view”a useful perspective for strategic management research? Yes. Academy of Management Review.
Google Scholar
6
-
Meldrum, M., & McDonald, M. (1995). The Ansoff Matrix. In: Key Marketing Concepts. London: Palgrave.
Google Scholar
7
-
Verhoeven, B., & Johnson, L. W. (2017). Business Model Innovation Portfolio Strategy for Growth Under Product-Market Configurations. Journal of Business Models Vol. 5, No.1, 35-50.
Google Scholar
8
Most read articles by the same author(s)
-
Fadhilla Sandra Adjie,
Alvanov Z. Mansoor,
Sony Rustiadi,
Ira Fachira,
Understanding the Perspective of Behavioral Economics’ Planning Fallacy in Improving Business Strategy for Kopi Bon , European Journal of Business and Management Research: Vol. 6 No. 3 (2021) -
Aditia Abdurachman,
Alvanov Z. Mansoor,
Proposed Business Strategy for Small and Medium Food Beverage Industry: A Case Study of Ladangkita.id , European Journal of Business and Management Research: Vol. 7 No. 5 (2022) -
Jessica Chenriana,
Alvanov Z. Mansoor,
Proposed Business Scheme for Small and Medium Architectural Consultant Using Blockchain Paradigm (Case Study: Studio Kano) , European Journal of Business and Management Research: Vol. 6 No. 4 (2021)