Growing Business by Creating Value Through Business Model Innovation: A Case Study of Compress Club
Abstract
Unemployment is currently a problem in Indonesia, many companies provide career preparation products, one of which is Compress Club. Compress Club as a career preparation service has various problems, one of which is slow business growth. This research aims to find out how to analyze growth strategies through business models and customer behavior, carried out with a qualitative approach, that is focus group discussions. An internal and external analysis was carried out to find out the potential that could be developed into a strategy for improving the business model with the Chu framework. As a result of this research, there has been a change in strategy in the Asset and People sections of the business model framework by Chu from Compress Club so that it can also support changes in the new product and services strategy in the form of a product internship-pool to help students get internships. The results of this research can be used as a consideration for similar businesses and businesses in the same industry as Compress Club so that they can develop growth strategies through the business model framework by Chu and customer behavior properly.
References
Anjum, S. (2020). Impact of internship programs on professional and personal development of business students: a case study from Pakistan. Future Business Journal. https://doi.org/10.1186/s43093-019-0007-3
Acumen. (2020). Why Is Qualitative Research Important? Acumen Fieldwork. Retrieved May 9, 2023, from https://www.acumenfieldwork.com/why-qualitative-research-important/
Ansoff. (1957). Strategies for Diversification. http://sgpwe.izt.uam.mx/files/users/uami/sppc/13O/Gestion_y_Control_Estrategico_I/Lectura_10._Ansoff_Igor_Strategies_for_Diversification.pdf2
Azzahra, Q. (2021). Ramai-ramai berebut pasar pendidikan digital - bisnis. Alinea.ID. Retrieved April 5, 2023, from https://www.alinea.id/bisnis/ramai-ramai-berebut-pasar-pendidikan-digital-b2c7Y95VL
Badan Pusat Statistik. (2022). Badan Pusat Statistik. Badan Pusat Statistik. Retrieved March 5, 2023, from https://www.bps.go.id/indicator/6/674/1/-pengangguran-terbuka-menurut-pendidikan-tertinggi-yang-ditamatkan.html
BBC Indonesia. (2015, June 22). Empat dari 10 mahasiswa 'tidak puas' dengan pendidikan Universitas. BBC. Retrieved March 5, 2023, from https://www.bbc.com/indonesia/majalah/2015/06/150622_majalah_pendidikan_
Bernd W. Wirtz, Adriano Pistoia, Sebastian Ullrich, & Vincent Göttel. (2016). Business Models: Origin, Development and Future Research Perspectives. Long Range Planning, 49(1), 36-54. https://doi.org/10.1016/j.lrp.2015.04.001
Bouwman, H., de Reuver, M., & M., Heikkilä. (2020). Electron Market. Business model tooling: where research and practice meet, 413-419. https://doi.org/10.1007/s12525-020-00424-5
British Library. (2023). Qualitative Vs Quantitative Research For Small Businesses. The British Library. Retrieved May 9, 2023, from https://www.bl.uk/business-and-ip-centre/articles/qualitative-and-quantitative-research-for-small-business
CNN Indonesia. (2022, January 24). RI Kekurangan 9 Juta Pekerja Bidang Informasi dan Komunikasi Teknologi. CNN Indonesia. Retrieved March 5, 2023, from https://www.cnnindonesia.com/ekonomi/20220124182546-92-750610/ri-kekurangan-9-juta-pekerja-bidang-informasi-dan-komunikasi-teknologi
Fida Issa J. Adely, Ankushi Mitra, Menatala Mohamed, & Adam Shaham. (2021, April). Poor education, unemployment and the promise of skills: The hegemony of the “skills mismatch” discourse. International Journal of Educational Development, Volume 82(2021), 1. https://doi.org/10.1016/j.ijedudev.2021.102381
Hanindito Buono. (2022, November 24). Shifting Career Adalah: Pengertian dan Cara Melakukannya. MyEduSolve. Retrieved March 5, 2023, from https://myedusolve.com/blog/shifting-career-adalah-pengertian-dan-cara-melakukannya
International Labour Organization. (2021). International Labour Organization. Retrieved March 5, 2023, from https://ilostat.ilo.org/data/country-profiles/indonesia/#indicators
Moldovan, I. (2020, September 1). Hands-On Learning For Online Courses. eLearning Industry. Retrieved March 5, 2023, from https://elearningindustry.com/6-elements-practical-online-course-experiential-learning
Prasojo, E., & Hadisaputra, S. (2018). Indonesian Higher Education Graduates' Competencies and Employability in the Era of Industry 4.0. Indonesian Higher Education Graduates' Competencies and Employability in the Era of Industry 4.0. 10.30880/jtet.2018.10.02.005
Rachmawati, R. (2020, August 6). Tiga sebab mengapa Kartu Prakerja tidak efektif atasi pengangguran dan solusinya. The Conversation. Retrieved March 5, 2023, from https://theconversation.com/tiga-sebab-mengapa-kartu-prakerja-tidak-efektif-atasi-pengangguran-dan-solusinya-142998
Sandra Desi Caesaria. (2022, November 7). 80 Persen Mahasiswa Bekerja Tidak Sesuai Jurusan, Ini 4 Alasannya Halaman all. Kompas.com. Retrieved March 5, 2023, from https://www.kompas.com/edu/read/2022/11/07/090548371/80-persen-mahasiswa-bekerja-tidak-sesuai-jurusan-ini-4-alasannya?page=all
Schaarschmidt, M., Walsh, G., & Ivens, S. (2021). Digital war for talent: How profile reputations on company rating platforms drive job seekers' application intentions. Journal of Vocational Behavior, Volume 131. https://doi.org/10.1016/j.jvb.2021.103644
Viva Budy Kusnandar. (2022). Lebih dari Separuh Pengangguran Berusia 15-29 Tahun pada Februari 2022. Databoks. Retrieved March 5, 2023, from https://databoks.katadata.co.id/datapublish/2022/06/08/lebih-dari-separuh-pengangguran-berusia-15-29-tahun-pada-februari-2022
Wei, X., & Taecharungroj, V. (2020). How to improve learning experience in MOOCs an analysis of online reviews of business courses on Coursera. The International Journal of Management Education, 20(3). https://doi.org/10.1016/j.ijme.2022.100675.
Ivy Vilory. (2022, October 5). Kenalan dengan RevoU dalam 5 menit. RevoU. Retrieved April 5, 2023, from https://journal.revou.co/revou-dalam-5-menit/
Randi Eka. (2022, May 18). Startup Edtech MySkill Umumkan Pendanaan Awal dari East Ventures | DailySocial.id. Dailysocial. Retrieved April 5, 2023, fromhttps://dailysocial.id/post/startup-edtech-myskill-umumkan-pendanaan-awal-dari-east-ventures
Dawson. (2022, August 2). Pfeiffer Library: Research Methodologies: What are research methodologies? Pfeiffer Library. Retrieved May 9, 2023, from https://library.tiffin.edu/researchmethodologies/whatareresearchmethodologies
Indeed. (2022, June 24). 7 Psychological Factors in Marketing That Influence Consumer Behavior. Indeed. Retrieved May 10, 2023, from https://www.indeed.com/career-advice/career-development/psychological-factors-in-marketing
Jansen, D., & Warren, K. (2020). What Is Research Methodology? Definition + Examples. Grad Coach. Retrieved May 9, 2023, from https://gradcoach.com/what-is-research-methodology/
Kelly, R. (2023, January). Market Penetration: What It Is and Strategies to Increase It. Investopedia. Retrieved May 6, 2023, from https://www.investopedia.com/terms/m/market-penetration.asp
Lanka, E. (2021). Why We Need Qualitative Research in Management Studies. Redalyc. Retrieved May 9, 2023, from https://www.redalyc.org/journal/840/84064926001/html/
Maillika Rangaiah. (2021, April 9). 5 Factors Influencing Consumer Behavior. Analytics Steps. Retrieved May 10, 2023, from https://www.analyticssteps.com/blogs/5-factors-influencing-consumer-behavior
Maryville University. (2022). What Is Consumer Behavior? Mastering the Arts | Maryville Online. Maryville University Online. Retrieved May 10, 2023, from https://online.maryville.edu/online-bachelors-degrees/marketing/resources/what-is-consumer-behavior/
Radu, V. (2023, January 16). Consumer behavior in marketing - patterns, types, segmentation. Omniconvert. Retrieved May 10, 2023, from https://www.omniconvert.com/blog/consumer-behavior-in-marketing-patterns-types-segmentation/
Sorescu, Alina & Frambach, Ruud & Singh, Jagdip & Rangaswamy, Arvind & Bridges, & Cheryl. (2011). Innovations in Retail Business Models. Journal of Retailing, 87, 3-16. https://doi.org/10.1016/j.lrp.2015.04.001
Wilkinson, D. (Ed.). (2000). The Researcher's Toolkit: The Complete Guide to Practitioner Research. Routledge.
George, T. (2021, December 10). What Is a Focus Group? | Step-by-Step Guide & Examples. Scribbr. Retrieved June 8, 2023, from https://www.scribbr.com/methodology/focus-group/
Kriuwkow. (2014). Analysing Focus Group data – Qualitative Researcher Dr Kriukow. Qualitative Researcher Dr Kriukow. Retrieved June 18, 2023, from https://drkriukow.com/analysing-focus-group-data/
NASA. (2012, October 28). Technology Readiness Level. NASA. Retrieved May 12, 2023, from https://www.nasa.gov/directorates/heo/scan/engineering/technology/technology_readiness_level
Onwuegbuzie, A. J., Dickinson, W. B., Leech, N. L., & Zoran, A. G. (2009). A Qualitative Framework for Collecting and Analyzing Data in Focus Group Research. International Journal of Qualitative Methods. https://doi.org/10.1177/160940690900800301
Peterdy, K. (2023, April 17). Ansoff Matrix - Overview, Strategies and Practical Examples. Corporate Finance Institute. Retrieved May 7, 2023, from https://corporatefinanceinstitute.com/resources/management/ansoff-matrix/
Rev. (2022, September 22). How to Analyze Focus Group Data More Effectively. Rev. Retrieved June 18, 2023, from https://www.rev.com/blog/marketing/how-to-analyze-focus-group-data
Richard A. Krueger. (2002). Designing and Conducting Focus Group Interviews. Designing and Conducting Focus Group Interviews. Retrieved June 8, 2023, from https://www.eiu.edu/ihec/Krueger-FocusGroupInterviews.pdf
Stobierski, T. (2020, December 3). What Is a Value Chain Analysis? 3 Steps | HBS Online. HBS Online. Retrieved May 31, 2023, from https://online.hbs.edu/blog/post/what-is-value-chain-analysis
Survey Monkey. (2023). Exploratory Research: What It Is and How To Use It. SurveyMonkey. Retrieved June 8, 2023, from https://www.surveymonkey.com/mp/exploratory-research/
Acumen. (2020). Why Is Qualitative Research Important? Acumen Fieldwork. Retrieved May 9, 2023, from https://www.acumenfieldwork.com/why-qualitative-research-important/
Ansoff. (1957). Strategies for Diversification. http://sgpwe.izt.uam.mx/files/users/uami/sppc/13O/Gestion_y_Control_Estrategico_I/Lectura_10._Ansoff_Igor_Strategies_for_Diversification.pdf2
Azzahra, Q. (2021). Ramai-ramai berebut pasar pendidikan digital - bisnis. Alinea.ID. Retrieved April 5, 2023, from https://www.alinea.id/bisnis/ramai-ramai-berebut-pasar-pendidikan-digital-b2c7Y95VL
Badan Pusat Statistik. (2022). Badan Pusat Statistik. Badan Pusat Statistik. Retrieved March 5, 2023, from https://www.bps.go.id/indicator/6/674/1/-pengangguran-terbuka-menurut-pendidikan-tertinggi-yang-ditamatkan.html
BBC Indonesia. (2015, June 22). Empat dari 10 mahasiswa 'tidak puas' dengan pendidikan Universitas. BBC. Retrieved March 5, 2023, from https://www.bbc.com/indonesia/majalah/2015/06/150622_majalah_pendidikan_
Bernd W. Wirtz, Adriano Pistoia, Sebastian Ullrich, & Vincent Göttel. (2016). Business Models: Origin, Development and Future Research Perspectives. Long Range Planning, 49(1), 36-54. https://doi.org/10.1016/j.lrp.2015.04.001
Bouwman, H., de Reuver, M., & M., Heikkilä. (2020). Electron Market. Business model tooling: where research and practice meet, 413-419. https://doi.org/10.1007/s12525-020-00424-5
British Library. (2023). Qualitative Vs Quantitative Research For Small Businesses. The British Library. Retrieved May 9, 2023, from https://www.bl.uk/business-and-ip-centre/articles/qualitative-and-quantitative-research-for-small-business
CNN Indonesia. (2022, January 24). RI Kekurangan 9 Juta Pekerja Bidang Informasi dan Komunikasi Teknologi. CNN Indonesia. Retrieved March 5, 2023, from https://www.cnnindonesia.com/ekonomi/20220124182546-92-750610/ri-kekurangan-9-juta-pekerja-bidang-informasi-dan-komunikasi-teknologi
Fida Issa J. Adely, Ankushi Mitra, Menatala Mohamed, & Adam Shaham. (2021, April). Poor education, unemployment and the promise of skills: The hegemony of the “skills mismatch” discourse. International Journal of Educational Development, Volume 82(2021), 1. https://doi.org/10.1016/j.ijedudev.2021.102381
Hanindito Buono. (2022, November 24). Shifting Career Adalah: Pengertian dan Cara Melakukannya. MyEduSolve. Retrieved March 5, 2023, from https://myedusolve.com/blog/shifting-career-adalah-pengertian-dan-cara-melakukannya
International Labour Organization. (2021). International Labour Organization. Retrieved March 5, 2023, from https://ilostat.ilo.org/data/country-profiles/indonesia/#indicators
Moldovan, I. (2020, September 1). Hands-On Learning For Online Courses. eLearning Industry. Retrieved March 5, 2023, from https://elearningindustry.com/6-elements-practical-online-course-experiential-learning
Prasojo, E., & Hadisaputra, S. (2018). Indonesian Higher Education Graduates' Competencies and Employability in the Era of Industry 4.0. Indonesian Higher Education Graduates' Competencies and Employability in the Era of Industry 4.0. 10.30880/jtet.2018.10.02.005
Rachmawati, R. (2020, August 6). Tiga sebab mengapa Kartu Prakerja tidak efektif atasi pengangguran dan solusinya. The Conversation. Retrieved March 5, 2023, from https://theconversation.com/tiga-sebab-mengapa-kartu-prakerja-tidak-efektif-atasi-pengangguran-dan-solusinya-142998
Sandra Desi Caesaria. (2022, November 7). 80 Persen Mahasiswa Bekerja Tidak Sesuai Jurusan, Ini 4 Alasannya Halaman all. Kompas.com. Retrieved March 5, 2023, from https://www.kompas.com/edu/read/2022/11/07/090548371/80-persen-mahasiswa-bekerja-tidak-sesuai-jurusan-ini-4-alasannya?page=all
Schaarschmidt, M., Walsh, G., & Ivens, S. (2021). Digital war for talent: How profile reputations on company rating platforms drive job seekers' application intentions. Journal of Vocational Behavior, Volume 131. https://doi.org/10.1016/j.jvb.2021.103644
Viva Budy Kusnandar. (2022). Lebih dari Separuh Pengangguran Berusia 15-29 Tahun pada Februari 2022. Databoks. Retrieved March 5, 2023, from https://databoks.katadata.co.id/datapublish/2022/06/08/lebih-dari-separuh-pengangguran-berusia-15-29-tahun-pada-februari-2022
Wei, X., & Taecharungroj, V. (2020). How to improve learning experience in MOOCs an analysis of online reviews of business courses on Coursera. The International Journal of Management Education, 20(3). https://doi.org/10.1016/j.ijme.2022.100675.
Ivy Vilory. (2022, October 5). Kenalan dengan RevoU dalam 5 menit. RevoU. Retrieved April 5, 2023, from https://journal.revou.co/revou-dalam-5-menit/
Randi Eka. (2022, May 18). Startup Edtech MySkill Umumkan Pendanaan Awal dari East Ventures | DailySocial.id. Dailysocial. Retrieved April 5, 2023, fromhttps://dailysocial.id/post/startup-edtech-myskill-umumkan-pendanaan-awal-dari-east-ventures
Dawson. (2022, August 2). Pfeiffer Library: Research Methodologies: What are research methodologies? Pfeiffer Library. Retrieved May 9, 2023, from https://library.tiffin.edu/researchmethodologies/whatareresearchmethodologies
Indeed. (2022, June 24). 7 Psychological Factors in Marketing That Influence Consumer Behavior. Indeed. Retrieved May 10, 2023, from https://www.indeed.com/career-advice/career-development/psychological-factors-in-marketing
Jansen, D., & Warren, K. (2020). What Is Research Methodology? Definition + Examples. Grad Coach. Retrieved May 9, 2023, from https://gradcoach.com/what-is-research-methodology/
Kelly, R. (2023, January). Market Penetration: What It Is and Strategies to Increase It. Investopedia. Retrieved May 6, 2023, from https://www.investopedia.com/terms/m/market-penetration.asp
Lanka, E. (2021). Why We Need Qualitative Research in Management Studies. Redalyc. Retrieved May 9, 2023, from https://www.redalyc.org/journal/840/84064926001/html/
Maillika Rangaiah. (2021, April 9). 5 Factors Influencing Consumer Behavior. Analytics Steps. Retrieved May 10, 2023, from https://www.analyticssteps.com/blogs/5-factors-influencing-consumer-behavior
Maryville University. (2022). What Is Consumer Behavior? Mastering the Arts | Maryville Online. Maryville University Online. Retrieved May 10, 2023, from https://online.maryville.edu/online-bachelors-degrees/marketing/resources/what-is-consumer-behavior/
Radu, V. (2023, January 16). Consumer behavior in marketing - patterns, types, segmentation. Omniconvert. Retrieved May 10, 2023, from https://www.omniconvert.com/blog/consumer-behavior-in-marketing-patterns-types-segmentation/
Sorescu, Alina & Frambach, Ruud & Singh, Jagdip & Rangaswamy, Arvind & Bridges, & Cheryl. (2011). Innovations in Retail Business Models. Journal of Retailing, 87, 3-16. https://doi.org/10.1016/j.lrp.2015.04.001
Wilkinson, D. (Ed.). (2000). The Researcher's Toolkit: The Complete Guide to Practitioner Research. Routledge.
George, T. (2021, December 10). What Is a Focus Group? | Step-by-Step Guide & Examples. Scribbr. Retrieved June 8, 2023, from https://www.scribbr.com/methodology/focus-group/
Kriuwkow. (2014). Analysing Focus Group data – Qualitative Researcher Dr Kriukow. Qualitative Researcher Dr Kriukow. Retrieved June 18, 2023, from https://drkriukow.com/analysing-focus-group-data/
NASA. (2012, October 28). Technology Readiness Level. NASA. Retrieved May 12, 2023, from https://www.nasa.gov/directorates/heo/scan/engineering/technology/technology_readiness_level
Onwuegbuzie, A. J., Dickinson, W. B., Leech, N. L., & Zoran, A. G. (2009). A Qualitative Framework for Collecting and Analyzing Data in Focus Group Research. International Journal of Qualitative Methods. https://doi.org/10.1177/160940690900800301
Peterdy, K. (2023, April 17). Ansoff Matrix - Overview, Strategies and Practical Examples. Corporate Finance Institute. Retrieved May 7, 2023, from https://corporatefinanceinstitute.com/resources/management/ansoff-matrix/
Rev. (2022, September 22). How to Analyze Focus Group Data More Effectively. Rev. Retrieved June 18, 2023, from https://www.rev.com/blog/marketing/how-to-analyze-focus-group-data
Richard A. Krueger. (2002). Designing and Conducting Focus Group Interviews. Designing and Conducting Focus Group Interviews. Retrieved June 8, 2023, from https://www.eiu.edu/ihec/Krueger-FocusGroupInterviews.pdf
Stobierski, T. (2020, December 3). What Is a Value Chain Analysis? 3 Steps | HBS Online. HBS Online. Retrieved May 31, 2023, from https://online.hbs.edu/blog/post/what-is-value-chain-analysis
Survey Monkey. (2023). Exploratory Research: What It Is and How To Use It. SurveyMonkey. Retrieved June 8, 2023, from https://www.surveymonkey.com/mp/exploratory-research/
Published
2023-09-30
How to Cite
ADANI, Affan Pradistya.
Growing Business by Creating Value Through Business Model Innovation: A Case Study of Compress Club.
Asian Journal of Research in Business and Management, [S.l.], v. 5, n. 3, p. 148-162, sep. 2023.
Available at: <https://myjms.mohe.gov.my/index.php/ajrbm/article/view/24222>. Date accessed: 02 dec. 2023.
Section
Articles
