CRITICAL FACTORS BEHIND SUCCESS AND FAILURE OF SMALL BUSINESS: A Study in Food Truck Industry in Finland
Truong, Linh (2019)
Truong, Linh
2019
All rights reserved. This publication is copyrighted. You may download, display and print it for Your own personal use. Commercial use is prohibited.
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2019061316803
https://urn.fi/URN:NBN:fi:amk-2019061316803
Tiivistelmä
This research aims to identify strategic elements that contribute to the success and failure of a small business in the food truck industry in Finland. The research is conducted to guide administrative procedure for foreigners to establish a food truck in Helsinki and to learn about critical factors that drive a business to success or failure.
The research uses the qualitative method with primary data from interviews and non-practical observations from the samplings group of nine samplings from six food truck. Data then is analyzed with thematic and content analysis approach. The research is internal consistency and has a limitation in non-random sampling approach and limited reference sources.
The research results have answered the research question and show crucial factors from people, operation, marketing and finance and its related issues that can drive food trucks to success and failure. In particular, staffs and managers were expected differently in knowledge, skills and experience. Operation speaking, proper preparation and management system, low fixed cost and active customer service are suggested for implementation. There is a recommendation on product quality, menu, pricing strategy and serving location. Offline marketing channel and a secure finance resource and plan were also highly appreciated.
Future research ideas were also mentioned at the end of the research. The research results are beneficial for both students and anyone who is interested in the food truck industry in Helsinki.
The research uses the qualitative method with primary data from interviews and non-practical observations from the samplings group of nine samplings from six food truck. Data then is analyzed with thematic and content analysis approach. The research is internal consistency and has a limitation in non-random sampling approach and limited reference sources.
The research results have answered the research question and show crucial factors from people, operation, marketing and finance and its related issues that can drive food trucks to success and failure. In particular, staffs and managers were expected differently in knowledge, skills and experience. Operation speaking, proper preparation and management system, low fixed cost and active customer service are suggested for implementation. There is a recommendation on product quality, menu, pricing strategy and serving location. Offline marketing channel and a secure finance resource and plan were also highly appreciated.
Future research ideas were also mentioned at the end of the research. The research results are beneficial for both students and anyone who is interested in the food truck industry in Helsinki.