Consider the dilemma facing those who want to continue their business education.
You can either drop out of the workforce for a couple of years and get an MBA, or you can travel to a business school for a week or so at a time and pay a premium for an executive education program. For companies, this saps expertise and skills, Bllomberg Businessweek reports. On a personal level, few families can afford to give up the income, and getting an MBA may require moving closer to school, leaving family behind.
For some, the solution has been to go the online ed route. While conventional programs such as Udacity and Coursera have made education more accessible, their approach is isolating, devoid of the valuable collaboration and networking with fellow students that are the hallmark of the MBA experience.
No wonder the dropout rate is so high for massive open online courses, or MOOCs.
There’s hope, though: I teach Technology Entrepreneurship online from Stanford University (offered through NovoEd), and 45 per cent to 65 percent of my students finish the course. That’s a resounding success compared to an anemic 5 per cent, according to a study conducted by MIT and Harvard of their 2012-13 online offerings.
In my experience teaching 150,000 students online, the subject matter combined with a collaborative experience keeps them engaged, and more likely to complete the program.
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