Creating a Business Model : Finnish Language Academy in South Korea
Prittinen, Jenni (2018)
Savonia-ammattikorkeakoulu
2018
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2018102216170
https://urn.fi/URN:NBN:fi:amk-2018102216170
Tiivistelmä
The purpose of the thesis was to create a business model of a Finnish language academy in South Korea and to find out if a Finnish language academy could successfully operate in South Korea. The reason for creating a business model was the absence of Finnish language education in Korea while there is an apparent increase in interest towards Finland and the Finnish language.
The process of forming the business model consists of three main sections. First, the concept of business model as well as the book Business Model Generation by Osterwalder & Pigneur were introduced. Next, a market analysis was conducted to form an understanding of South Korean markets. Lastly, a business model was created based on the information of the two previous chapters.
The thesis is a secondary research. A literature review was used to form a theoretical framework on business model. PEST analysis and a Business Model Environment tool were used in the market analysis.
The result of the thesis was a business model canvas for a Finnish language academy and an assessment of such a business’s ability to succeed in South Korea. Based on the market analysis, it was possible to state that there has been an increase in demand for Finnish language education but due to a lack of quantitative data, it is not possible to affirm that the business would be successful in South Korea. A quantitative research should be conducted among Finnish learners in South Korea in order to further develop the business idea.
The process of forming the business model consists of three main sections. First, the concept of business model as well as the book Business Model Generation by Osterwalder & Pigneur were introduced. Next, a market analysis was conducted to form an understanding of South Korean markets. Lastly, a business model was created based on the information of the two previous chapters.
The thesis is a secondary research. A literature review was used to form a theoretical framework on business model. PEST analysis and a Business Model Environment tool were used in the market analysis.
The result of the thesis was a business model canvas for a Finnish language academy and an assessment of such a business’s ability to succeed in South Korea. Based on the market analysis, it was possible to state that there has been an increase in demand for Finnish language education but due to a lack of quantitative data, it is not possible to affirm that the business would be successful in South Korea. A quantitative research should be conducted among Finnish learners in South Korea in order to further develop the business idea.