Massive Open Online Courses (MOOC) International Business Plan Assignment
January 19, 2015
Massive Open Online Courses (MOOC)
A disruptive force is taking shape in the way education is made available to students. The cost of a typical education at a university or college has skyrocketed in recent years. In fact, the cost has been more than the rate of inflation for many years running now. The cost is so high that to many potential students, the cost is prohibitive. Many if not most students graduating with a Bachelor’s degree find themselves inundated with student loans. The average student loan is over $25,000. The students are burdened with these loans that will take years to pay off, particularly in this economic times where good paying jobs are hard to come by. The affordability of attending college is being questioned. The business model of the current education system has made attending and graduating from college a very costly endeavor. This costly endeavor is disruptive to the economy for reason that the recently, minted graduates are unable to invigorate the economy. The economy is heavily depended on consumer spending. Hence, graduates are paying off their loans and not doing consumer spending, such as buying homes, durable goods, vehicles, etc.
A disruptive force is gaining ground and it is taking form and shape. The force comes in the new education format called Massive Open Online Courses (MOOC). MOOC is a growing force. MOOC provides an education for free. MOOC is a course of study made available over the Internet aimed at unlimited participation without charge to a very large number of people. MOOC could make student loans obsolete. MOOC presents a different business model than today’s typical college or university.
MOOC has the greatest advantage, from the get-go, that any new venture itches to have. This advantage is the economies of scale that would readily be available...