Why the Business Education of the Future Won’t be at Wharton or Stanford

In that same study, 97% of companies said customer education impacts their overall revenue by increasing brand awareness, boosting product usage and decreasing churn. Yet 68% believe they could be using customer education to derive even more value—a gap that Academy Builders aims to fill.

By Emily Hubbell

As you read this article, 31.7 million small businesses are operating across the United States, delivering the goods and services that fuel a strong economy. The lifeblood of the nation, these small businesses employ 60.6 million workers; that’s nearly 50% of all U.S. employees. They create two-thirds of new jobs and represent 44% of our domestic economic activity.. Think those statistics are impressive? Get ready to watch them explode.

Before COVID-19, Bain & Company predicted that the number of entrepreneurs and small businesses in the U.S. would skyrocket to 70 million by 2030. Now, the number of Americans who own a company could eclipse 100 million in that same timeframe—a shift triggered more by necessity than opportunity. Artificial intelligence could eliminate more than 20% of current jobs by the end of the decade. And then there’s the recession, which has historically inspired high levels of entrepreneurship. But no matter the impetus for starting a business, there’s one common thread: More entrepreneurs than ever are entering the role unprepared—and unable to afford business school as a source of training.

Business owners are good for the economy. They fuel innovation, increase competition and create high-quality jobs. But as the number of entrepreneurs skyrockets, it raises a critical question: How can we educate small business owners affordably and at scale? For a growing group of innovators, the answer is “customer education:” a market segment that shifts small business training away from universities and toward the companies that entrepreneurs do business with. Among the leaders shaping this emerging space is Scott Duffy, whose Academy Builders, Inc., is launching as the race to disrupt entrepreneur education accelerates.

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The digital divide has left millions of school kids behind

US schools are going back to in-person learning as COVID ebbs, but the so-called homework gap will persist.

By Marguerite Reardon

The coronavirus shined a light on the homework gap, or the disparity between the haves and have-nots when it comes to those students with laptops, tablets and high-speed internet and those without even basic online access. But the waning of the pandemic’s threat is a stark reminder that this aspect of the larger digital divide was a problem long before, and will remain one even as things return to normal. 

But the seismic shift sparked by the coronavirus has some optimistic that more change is on the way. 

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These 10 Colleges Have Produced The Most Billionaire Alumni

By Kenrick Cai

American universities dominate, but it’s not all Ivy Leaguers on the 2021 World’s Billionaires list.

The 2,755 people on Forbes’ 2021 World’s Billionaires list received their undergraduate degrees all over the world, from Al-Azhar University in Egypt to the Zhejiang University of Technology in China. Hundreds did not attend college at all, or left before obtaining a diploma, including a pair of Harvard dropouts who are among the five richest people in the world: Bill Gates and Mark Zuckerberg.

But among the billionaires who completed their undergraduate education, a few schools stand out. Harvard leads the way, with at least 29 billionaire alumni on the Forbes list. (We found information about the undergraduate education of a majority, but not all, of the list members.) Four other Ivy League universities make the top ten. Nine of these ten schools are located in the United States—MIT and a trio of California schools round out the American colleges—although their alumni hold diverse citizenship, from Colombia to Ireland to the Philippines. The lone non-U.S. school? The University of Mumbai, a public university in India that is one of the largest colleges in the world by enrollment. Just missing the cut are South Korea’s Seoul National University and China’s Tsinghua University.

Here are the ten colleges with the most billionaire undergraduate alumni, based on education data collected by Forbes; net worths are as of March 5, 2021.

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How Google’s New Career Certificates Could Disrupt the College Degree (Exclusive)

BY JUSTIN BARISO@JUSTINJBARISO

Get a first look at Google’s new certificate programs and a new feature of Google Search designed to help job seekers everywhere.

This morning, Google is announcing the next steps in its plan to disrupt the world of education, including the launch of new certificate programs that are designed to help people bridge any skills gap and get qualifications in high-paying, high-growth job fields–with one noteworthy feature: 

No college degree necessary.

The new tools could be a game changer for a growing number of people who consider the current educational system broken, or for the millions of Americans who are currently unemployed, much due to fallout from the Covid-19 pandemic.

“The pandemic has led to a truly horrible year,” Alphabet and Google CEO Sundar Pichai tells Inc. in an interview. “But it has also created profound shifts along the journey to digital transformation in ways no one could have imagined.”

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5 Major Shifts Needed Post-COVID-19 to Transform Education

BY MARK SIEGEL | AUGUST 12, 2020

MARK SIEGEL

As American educators battle the COVID-19 crisis, we are rightly recognizing that providing quality education faces incredible new challenges in the short and long term. As John Bailey writes in Education Next, “In planning to reopen, schools will be forced to question long-standing assumptions and develop strategies that can lead to building a better education system. The process can help to distinguish between the superfluous and the essential and build from those fundamentals.”

These transformational challenges do not allow us to return to previous, largely ineffective academic methodologies that have not allowed us to accomplish the goals we have for our students, nor do they call on us to believe that the best we can do is to merely cope through a temporary, hybrid system. Rather, they require us to rethink the future of education and radically improve our current system, a transformation that will include at least five major shifts to better serve all students.

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Reimagining higher education in the United States

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As education leaders consider their options in the age of the COVID-19 crisis, they must rethink the conventional wisdom.

Higher education in the United States is at an inflection point. The core mission of the university—instruction, research, and service—has not changed. Nor has the need for advanced education to prepare individuals for a fulfilling life and to drive the knowledge economy. For individuals, the economic benefit of earning a college degree remains clear. College graduates are on average wealthier, healthier, and happier over a lifetime.1

Even before the COVID-19 crisis, however, the higher-education sector faced significant challenges. Consider student completion: only 60 percent of all those who started college actually earned a degree within six years in 2017 (the latest year for which data is available). The figures are even worse for Black (39.9 percent) and Hispanic (54.4 percent) students. Other troubling disparities persist. In student enrollment, for example, 69 percent of white high-school graduates enroll in college, compared with 59 percent of Black high-schoolers and 61 percent of Hispanics. Furthermore, the level of student debt is rising, while repayment rates plummet, creating a potentially unsustainable burden for many students.

The pandemic is intensifying these challenges and creating new ones. Students and their families are struggling with the impact of campus shutdowns and questioning whether it is worth it to pay for an on-campus experience when much of the instruction is being done remotely. Under these circumstances, the risk of outcome inequities—from completion to employment to lifetime earnings—could worsen. For example, evidence suggests that lower-income students are 55 percent more likely than their higher-income peers to delay graduation2 due to the COVID-19 crisis. Underpinning all of these challenges is a business model at its breaking point, as institutions face falling revenues and rising health-and-safety costs.

In short, the coronavirus has confirmed the case for fast and fundamental change. It has also demonstrated that change is possible. When the pandemic hit, many US colleges and universities moved quickly to remote learning and other delivery models, launched affordability initiatives, and found creative ways to support their students. Now is the time to build on these lessons to reimagine the next five to ten years and beyond.

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China’s Yuanfudao claims global edtech valuation crown

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Yuanfudao has ascended to become the most valuable private edtech company in the world.

 The Beijing-based company captured a $15.5 billion valuation after closing a $2.2 billion round—climbing past India’s online learning platform, Byju, to take its place as the world’s most valuable private edtech company, according to PitchBook data.

“Yuanfudao is poised for high growth as it offers products from preschool to secondary education, which in theory, can support a child’s educational journey from the very beginning all the way through adulthood,” said Ryan Vaswani, an emerging tech analyst at PitchBook.

The company’s online education platform has about 3.7 million students in China using its suite of products, which include live tutoring, online question banks and a math problem-checking app.

Tencent led the first add-on to the company’s Series G with participation from Hillhouse Capital, Boyu Capital and IDG Capital. DST Global, which has also backed Chinese ridesharing goliath Didi Chuxing, led the second portion of the round. In March, Yuanfudao reportedly raised $1 billion at a $7.8 billion valuation.

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These are the top 10 job skills of tomorrow – and how long it takes to learn them

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Founder and Executive Chairman of World Economic Forum Klaus Schwab speaks during a session at the 50th World Economic Forum (WEF) annual meeting in Davos, Switzerland January 23, 2020.

Professor Klaus Schwab says technological innovation can be leveraged to unleash human potential.

50% of all employees will need reskilling by 2025, as adoption of technology increases, according to the World Economic Forum’s Future of Jobs Report.

  • Critical thinking and problem-solving top the list of skills employers believe will grow in prominence in the next five years.
  • Newly emerging this year are skills in self-management such as active learning, resilience, stress tolerance and flexibility.
  • Respondents to the Future of Jobs Survey estimate that around 40% of workers will require reskilling of six months or less.
  • Half of us will need to reskill in the next five years, as the “double-disruption” of the economic impacts of the pandemic and increasing automation transforming jobs takes hold.

That’s according to the third edition of the World Economic Forum’s Future of Jobs Report, which maps the jobs and skills of the future, tracking the pace of change and direction of travel.

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As wealthy parents turn to ‘pandemic pods,’ startups aim to make them equitable

 

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Affluent families were quick to explore pandemic pods as an alternative to solitary virtual school. Now, startups are looking for ways to make the model available to all.

In certain communities across America, learning pods, or pandemic pods, have become all the rage. Parents eager to offer their children socialization and some form of in-person instruction (and working parents simply eager to solve the problem of child care) are banding together to turn basements, garages, and living rooms into minischools for half a dozen families. Some families are hiring a teacher to supervise and lead activities, and some are relying on one another. Most plan to maintain enrollment in traditional school and use the pod as a supplement.

Almost as soon as learning pods emerged as a trend, concerns about equity followed. Not every family has the resources to hire a private teacher, and not every family lives in a community where homes have extra space for desks, bean bags, and art supplies. Indeed, in many cases, families are grappling with far more essential challenges, such as putting food on the table or finding stable shelter. In New York City alone, 114,000 children are homeless.

But for a growing number of entrepreneurs, that resource imbalance is a problem to be solved, not a reason to give up on learning pods entirely. They argue that with the right approach to design and funding, learning pods could become a solution that works for everyone.

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‘Schoolcations’ are the latest hotel trend to attract remote learners

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As the nation’s children head back to school, it’s clear that for many, the school year will be like none before.

 With many students learning remotely, some families are looking at ways to take advantage of what might be a once-in-a-lifetime opportunity: to take their families out of their hometown and on vacation at a time of year when it would typically not be practical. It’s a silver lining in what many parents think will be a difficult year ahead.

Hotels in the U.S. and Mexico are offering distance-learning vacations with everything from dedicated “classroom” space to private tutors to tech support.

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The Economic Model of Higher Education Was Already Broken. Here’s Why the Pandemic May Destroy It for Good

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Logan Armstrong, a Cincinnati junior, works while sitting inside a painted circle on the lawn of the Oval during the first day of fall classes on at Ohio State University on Aug. 25, 2020.

Karabell is an author, investor, and commentator. He is the president of River Twice Research. His forthcoming book is Inside Money: Brown Brothers Harriman and the American Way of Power.

With the fall semester upon us, colleges and universities unveiled their plans for students—and many are just as quickly upending those plans. The University of North Carolina and Notre Dame recently announced they were changing their on campus plans as COVID-19 cases spiked. Many other universities are sure to follow. Already, universities ranging from Syracuse to Ohio State are suspending hundreds of students for violating social distancing rules, while COVID-19 outbreaks are on the rise on campuses such as the University of Alabama. While there is considerable variety in the actual plans, ranging from mostly in-person to all virtual, they all share one imperative: to maintain an economic model that is as imperiled by the pandemic as the hardest hit service industries.

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New global data reveal education technology’s impact on learning

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The use of technology in education has become a lifeline during the COVID-19 pandemic. As students return to the classroom, school systems must carefully consider the longer-term role of technology.

The promise of technology in the classroom is great: enabling personalized, mastery-based learning; saving teacher time; and equipping students with the digital skills they will need for 21st-century careers. Indeed, controlled pilot studies have shown meaningful improvements in student outcomes through personalized blended learning.1 During this time of school shutdowns and remote learning, education technology has become a lifeline for the continuation of learning.

As school systems begin to prepare for a return to the classroom, many are asking whether education technology should play a greater role in student learning beyond the immediate crisis and what that might look like. To help inform the answer to that question, this article analyzes one important data set: the 2018 Programme for International Student Assessment (PISA), published in December 2019 by the Organisation for Economic Co-operation and Development (OECD).

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