The key opportunity for institutions is to take the concepts developed by the MOOC experiment to date and use them to improve the quality of their face-to-face and online provision, and to open up access to higher education. Most importantly, the understanding gained should be used to inform diversification strategies including the development of new business models and pedagogic approaches that take full advantage of digital technologies.
According to the authors three key themes emerge from the MOOC experiment:
- Openness – new approaches to online learning, including models for scalable provision that may generate revenues, and promote open learning, which goes beyond institutional boundaries through the use of online communities. [Increasing impact & long term, likely for most institutions]
- Revenue models – different revenue models taking the established ideas from technology start-ups, such as applying the concepts of freemium and premium offers into online learning, providing institutions with new ways of thinking about marketing and income generation. [High impact & medium term, more likely for institutions looking for new revenue streams]
- Service Disaggregation – experimentation with business models that include unbundling and re-bundling of courses and delivery related services, such as offering paid for assessment and/or teaching and support, on top of free online course content. This may have a wider impact across institutions in the future through better deployment of existing resources to add value to customers where there is greatest benefit and to reduce costs through outsourcing (unbundling is already happening independently of MOOCs). [High impact & short term, likely for most institutions]
Institutions should consider exploring a set of opportunities that have been brought to the attention of mainstream education by MOOCs, and experiment with new approaches for developing technology-enabled changes in teaching and learning to improve opportunities for individual learners.