PROPOSED BUSINESS STRATEGY FOR A NONFORMAL ARCHITECTURERELATED EDUCATION STARTUP (CASE STUDY: KLASS ACADEMY)

• Main Author: Chrisiela Handrian, Anastasia
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/54853
• Institution: Institut Teknologi Bandung

Architecture is arguably one of the most complex and broad subject, 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 research 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 underpins 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, Competitor Analysis, Porter’s 5 Forces, Resource-Based View Analysis, and Business Model Canvas. The overall external and internal analysis was integrated using the SWOT analysis and mapped into a quadrant diagram. The company’s existing position fell into the quadrant II, meaning that the company is currently in a strong but challenging condition and potentially will have numerous challenges if it depends solely on the existing strategy. Therefore, a diversification strategy is recommended for the company to immediately expand its range of tactical plans. The findings from conducted analysis determine the proposed business strategy recommendations - with the use of the Porter’s Generic Business Strategy and Ansoff matrix as analysing tools. Klass Academy uses Differentiation Focus approach as it strives to deliver its unique values to its niche customer segment. The proposed strategies are categorised as Product Development Strategy and Diversification Strategy; each was elaborated with actions plans and plotted into an implementation timeline before carried out in a budgeting calculation. There are fourteen proposed new strategies that are classified into three phases according to when should it be implemented: in the short term (less than four months’ time), a mid-term (less than eight months’ time), or in a longer-term (more than eight months’ time). This classification is determined by considering the resource limitation – both financial and humans – and external circumstances, such as the pandemic situation.