changing business models

From DSC:
How do we best help folks impacted by these changes reinvent themselves? And to what? What adjustments to our educational systems do we need to make in order to help people stay marketable and employed?

Given the pace of change and the need for lifelong learning, we need to practice some serious design thinking on our new reality.

The amount of retail space closing in 2018 is on pace to break a record — from cnbc.com by Lauren Thomas

Bon-Ton’s more than 200 stores encompass roughly 24 million square feet.
CoStar Group has calculated already more than 90 million square feet of retail space (including Bon-Ton) is set to close in 2018.
That’s easily on track to surpass a record 105 million square feet of space shuttered in 2017.

Transforming the Postsecondary Professional Education Experience — from by Mary Grush & Thomas Finholt

Excerpt:

So, among other factors currently influencing change, those are the predominate ones. I’ll sum it up this way: The tried-and-true residential model has worked so far, but a number of factors are forcing transformation: emerging technologies, new expectations about when learning will occur in a student’s lifespan, and the introduction of a whole new population of students that had never been imagined before.
…
Grush: What are your latest efforts or experiments in new professional education offerings that you see as part of this transformation? When did you make a start and what impacts do you see so far?
Finholt: The biggest transformation for us to date has been our entry into the MOOC space. That movement began with a few small trials, but it’s now rapidly expanding and may include, ultimately, full degree offerings. I would describe our period of experimentation with MOOCs to have started in 2013, gaining especially significant momentum in the past two years. Over the next couple of years, our efforts will expand even more dramatically, if we elect to offer fully online degrees. As a measure of the magnitude of impact of MOOCs so far, one of our MOOC specializations in the Python programming language is among the most popular offerings on Coursera — I believe that it has reached more than a million learners at this point. A significant fraction of those learners have opted to sit for an exam to get a certificate in Python programming.

One is, as announced at the March 6th Coursera meeting, that we have joined in a partnership with Coursera and the University of Michigan’s Office of Academic Innovation to design and get approved, a brand-new online master’s degree in Applied Data Science.

From DSC:
Mary and Thomas’ solid article reminds me of a graphic I put together a while back:

“The process of obtaining postgraduate credentials is becoming something that one works on over the entire span of one’s career… Working professionals will have an array of punctuated intervals, if you will — periods of time when they work intensively to update their credentials.” (source)

The Law Firm Disrupted: Walmart Won’t Pay You to Cut and Paste [Strom]

On 04/13/2018, in Artificial Intelligence / Machine Learning / Deep Learning, business, change, changing business models, cognitive computing, disruption, human-computer interaction (HCI), IBM, ideas, innovation, intelligent systems, Law Schools, productivity / tips and tricks, tools, workplace, by Daniel Christian

The Law Firm Disrupted: Walmart Won’t Pay You to Cut and Paste — from law.com by Roy Strom
The world’s largest retailer, locked in a battle over the future of its business, has developed a tool to help make its many outside lawyers more efficient.

Excerpt (emphasis DSC):

Earlier this week, Walmart Inc. announced it would be rolling out 500 more giant vending machines in its stores to deliver online orders in seconds. The tool is designed to compete with online delivery services from Amazon.com Inc.

The world’s largest retailer also announced this week a tool that will compete (in some sense) with its outside counsel. Walmart has licensed a product from LegalMation that automatically drafts responses and initial discovery requests for employment and slip-and-fall suits filed in California. By this fall, the product should cover those cases in all 50 states.

LegalMation says it takes under two minutes to drag and drop a PDF of a suit into its product and receive a response to that case, in addition to a set of targeted requests for documents, form interrogatories and special interrogatories. That work has traditionally been handled by junior lawyers at Walmart’s outside firms, and LegalMation claims it can take them up to 10 hours to do. The savings on preparing an answer to these complaints is as much as 80 percent, LegalMation said.

“You’re still reviewing the outcome and reviewing the affirmative defenses,” said LegalMation co-founder Thomas Suh, a longtime legal technology advocate. “You’re eliminating the brainless cutting and pasting.”

About six months after the Harvard program, Lee and Suh had drilled down on where to apply AI, and they teamed up with IBM’s Watson to build their product. They also had to develop their own neural network that they said is the “secret sauce” to LegalMation’s ability to parse legalese. “We would not be able to do this without an AI engine like Watson, and likewise I don’t think a product like this would be doable without our neural network,” Lee said.

Also see:

Automation in the Legal Industry: How Will It Affect Recent Law School Grads? — from nationaljurist.com by Martin Pritikin

Excerpt:

A 2017 study by McKinsey Global Institute found that roughly half of all work activities globally have the potential to be automated by technology. A follow-on study (also from McKinsey in 2017) concluded that up to one-third of work activities could be displaced by 2030. What, if any, impacts do these eye-popping findings have on the future on the legal profession, especially for recent law school graduates embarking on their careers?

Recently, it was announced that ROSS, a legal research artificial intelligence platform powered in part by IBM’s Watson technology, was unveiling a new product, EVA, which will not only find applicable cases, but quality check case citations and history. As usual, this latest development has gotten people worried that human lawyers—and, in particular, recent law grads who have traditionally been tasked with legal research—may be on a path to extinction.

Obviously, no one can predict the future with certainty. But if history is any guide, these new technological developments will shift the type of work new lawyers are expected to do, but won’t necessarily eliminate it.

…

We may not be facing a future without lawyers. But it is going to be a future that requires lawyers to learn how to utilize technology effectively to serve their clients—something we should all welcome, not fear.

College of Law Announces the Launch of the Nation’s First Live Online J.D. Program — from law.syr.edu

Excerpt:

The American Bar Association has granted the Syracuse University College of Law a variance to offer a fully interactive online juris doctor program. The online J.D. program will be the first in the nation to combine real-time and self-paced online classes, on-campus residential classes, and experiential learning opportunities.

…
The online J.D. was subject to intense scrutiny and review by legal education experts before the College was granted the variance. Students in the online program will be taught by College of Law faculty, will be held to the same high admission and academic standards as students in the College’s residential program, and will take all courses required by its residential J.D. program.

Also see:

The first fully interactive online J.D. program
The Syracuse University College of Law
SU Law first in nation to offer live online law program
Bar Association grants SU a variance to offer fully interactive online programs

“Blockchain: Is it Good for Education?” [virtuallyinspired.org] + other relevant resources

On 03/30/2018, in accreditation, adult learning, Blockchain, business side of he, career development, change, changing business models, colleges, community colleges, corporate universities / corporate training, credentialing, education technology, emerging technologies, experimentation, face-to-face, future of higher education, game-changing environment, higher education, IBM, ideas, innovation, learning, learning ecosystem, learning from the living [class] room, Lifelong learning, MBA, Microlearning, MOOCs -- Massive Open Online Courses, online learning, platforms, professional development, project-based learning, society, strategy, student-related, tools, universities, vendors, vision, Walmart of Education --> New Amazon.com of Higher Education, workplace, by Daniel Christian

Blockchain: Is it Good for Education? — from virtuallyinspired.org

Excerpt:

What is Blockchain?

Blockchain is a public ledger type database made up of records called blocks that are linked together like a chain. It is a shared unchallengeable ledger for recording the history of transactions. Here, the ledger records the history of academic accomplishments. An education ledger (blockchain) could store academic information such as degrees, diplomas, tests etc. It could be kind of digital transcript.

A Few Potential Applications of Blockchain

Learning Credentials Repository – A blockchain database of credentials and achievements can be a secure online repository. Digitized records/blocks replace paper copies for sharing proof of learning and can be easily accessible and tracked. Blockchain can make it easy to access all of your academic accomplishments in a digitized and ultra-secure way. Each record is a block. Your records would be chained together and new credentials will be added as you go throughout your lifetime of learning.
Lifelong Learning Building Blocks – Informal learning activities could be captured, validated and stored in addition to formal learning accomplishments. This can be as simple as noting a watched video or completed online lesson. We’re already seeing some universities using blockchain with badges, credits, and qualifications.
Authenticating Credentials – Institutions, recruiting firms or employers can easily access and verify credentials. No more gathering of papers or trying to digitize to share. Blocks are digital “learning” records and come in multilingual format eliminating the painstaking task of translation.

What’s more, with diploma mills and fake credentials causing havoc for institutions and employers, blockchain solves the issue by providing protection from fraud. It has two-step authentication and spreads blocks across numerous computer nodes. It would take hitting over 51% of computers to falsify a block.

Sony and IBM have partnered and filed patents to develop a blockchain educational platform that can house student data, their performance reports and other information related to their academic records. Some universities have created their own platforms.

Also see:

Blockchain in Education — from by Alexander Grech and Anthony F. Camilleri

Context
Blockchain technology is forecast to disrupt any field of activity that is founded on timestamped record-keeping of titles of ownership. Within education, activities likely to be disrupted by blockchain technology include the award of qualifications, licensing and accreditation, management of student records, intellectual property management and payments.

Key Advantages of Blockchain Technology
From a social perspective, blockchain technology offers significant possibilities beyond those currently available. In particular, moving records to the blockchain can allow for:

Self-sovereignty, i.e. for users to identify themselves while at the same time maintaining control over the storage and management of their personal data;
Trust, i.e. for a technical infrastructure that gives people enough confidence in its operations to carry through with transactions such as payments or the issue of certificates;
Transparency & Provenance, i.e. for users to conduct transactions in knowledge that each party has the capacity to enter into that transaction;
Immutability, i.e. for records to be written and stored permanently, without thepossibility of modification;
Disintermediation, i.e. the removal of the need for a central controlling authority to manage transactions or keep records;
Collaboration, i.e. the ability of parties to transact directly with each other without the need for mediating third parties.

Sony wants to digitize education records using the blockchain

“The Changing Landscape of Online Education: A Deeper Dive” [Quality Matters & Eduventures Research]

On 03/28/2018, in 21st century, 24x7x365 access, change, changing business models, colleges, community colleges, digital learning, distance education, higher education, instructional design, leadership, online learning, organizational change, strategy, teaching & learning, teaching online, universities, vision, by Daniel Christian

The Changing Landscape of Online Education (CHLOE)

QM and Eduventures have teamed up to conduct a multi-year study to examine the changing landscape of online education, provide results to those who can use them and help those involved with online education place their institution within a broader context and possibly influence strategic decisions and organizational changes. Please complete the form on this page to gain access to the 2018 CHLOE 2 Report.

The third iteration of CHLOE is scheduled for April 2018 and focuses on in-depth coverage of issues such as governance of online programs, blended learning and the influence of subject matter on the design and delivery of online programs. If you are a Chief Online Officer and wish to participate in the next CHLOE Survey, or if you wish to nominate the COO at your institution, please contact QM’s Manager of Research & Development Barbra Burch.

Date Published: Tue, 03/27/2018

Also see:

Online Learning’s Complex, Fractured Landscape — from insidehighered.com by Doug Lederman — references new report from Quality Matters & Eduventures Research entitled “The Changing Landscape of Online Education: A Deeper Dive”
Survey of chief online officers shows enormous variation in how colleges define and structure digital education, in terms of pricing, program structure and use of instructional design.

Excerpt:

A new survey of those who oversee online learning programs at their institutions reveals significant diversity in the online education landscape, from differences in colleges’ strategic goals in going online to how they structure and price their programs and how much they require/encourage faculty members to work with professional designers to craft their courses.

The report, “The Changing Landscape of Online Education: A Deeper Dive,” is the second such report from Quality Matters and Eduventures Research, leading them to dub it CHLOE2. (Inside Higher Ed and “Inside Digital Learning” covered last year’s report here and here.) One hundred eighty-two senior officials responsible for online education at their institutions responded to the survey (up from 104 last year), drawn roughly equivalently from four-year private, four-year public and two-year public colleges.

The survey explores a wide range of topics and issues, related to the administrative structure of online offerings, the economics of their programs and the role of instructional designers. Among the most interesting findings:

In Move Towards More Online Degrees, Coursera Introduces Its First Bachelor’s — from edsurger.com by Sydney Johnson

Excerpt:

These days, though, many MOOC platforms are courting the traditional higher-ed market they once rebuked, often by hosting fully-online masters degrees for colleges and universities. And today, one of the largest MOOC providers, Coursera, announced it’s going one step further in that direction, with its first fully online bachelor’s degree.

“We are realizing that the vast reach of MOOCs makes them a powerful gateway to degrees,” Coursera CEO Jeff Maggioncalda said in a statement.

…

The new degree will be a bachelor of science in computer science from the University of London. The entire program will cost between £9,600 and £17,000 (approximately $13,300 to $23,500), depending on a student’s geographic location. According to a spokesperson for Coursera, the program’s “cost is adjusted based on whether a student is in a developed or developing economy.”

From DSC:
At least a couple of questions come to mind here:

What might the future hold if the U.S. Department of Education / the Federal Government begins funding these types of alternatives to traditional higher education?
Will Coursera be successful here and begin adding more degrees? If so, a major game-changer could be on our doorsteps.

Hmmm…this is not good news for Uber & Lyft drivers. [Levin] #BusinessModels

On 03/03/2018, in 21st century, business, career development, change, changing business models, corporate / business world, Daniel S. Christian, economics, exchanges, marketplaces, new business models, policy, society, workplace, by Daniel Christian

Uber and Lyft drivers’ median hourly wage is just $3.37, report finds — from theguardian.com by Sam Levin
Majority of drivers make less than minimum wage and many end up losing money, according to study published by MIT

Excerpt (emphasis DSC):

Uber and Lyft drivers in the US make a median profit of $3.37 per hour before taxes, according to a new report that suggests a majority of ride-share workers make below minimum wage and that many actually lose money.

Researchers did an analysis of vehicle cost data and a survey of more than 1,100 drivers for the ride-hailing companies for the paper published by the Massachusetts Institute of Technology’s Center for Energy and Environmental Policy Research. The report – which factored in insurance, maintenance, repairs, fuel and other costs – found that 30% of drivers are losing money on the job and that 74% earn less than the minimum wage in their states.

The findings have raised fresh concerns about labor standards in the booming sharing economy as companies such as Uber and Lyft continue to face scrutiny over their treatment of drivers, who are classified as independent contractors and have few rights or protections.

“This business model is not currently sustainable,” said Stephen Zoepf, executive director of the Center for Automotive Research at Stanford University and co-author of the paper. “The companies are losing money. The businesses are being subsidized by [venture capital] money … And the drivers are essentially subsidizing it by working for very low wages.”

From DSC:
I don’t know enough about this to offer much feedback and/or insights on this sort of thing yet. But while it’s a bit too early for me to tell — and though I’m not myself a driver for Uber or Lyft — this article prompts me to put this type of thing on my radar.

That is, will the business models that arise from such a sharing economy only benefit a handful of owners or upper level managers or will such new business models benefit the majority of their employees? I’m very skeptical in these early stages though, as there aren’t likely medical or dental benefits, retirement contributions, etc. being offered to their employees with these types of companies. It likely depends upon the particular business model(s) and/or organization(s) being considered, but I think that it’s worth many of us watching this area.

Also see:

T he Economics of Ride-Hailing: Driver Revenue, Expenses and Taxes— from ceepr.mit.edu / MIT Center for Energy and Environmental Policy Research by Stephen Zoepf, Stella Chen, Paa Adu, and Gonzalo Pozo

February 2018

We perform a detailed analysis of Uber and Lyft ride-hailing driver economics by pairing results from a survey of over 1100 drivers with detailed vehicle cost information. Results show that per hour worked, median profit from driving is $3.37/hour before taxes, and 74% of drivers earn less than the minimum wage in their state. 30% of drivers are actually losing money once vehicle expenses are included. On a per-mile basis, median gross driver revenue is $0.59/mile but vehicle operating expenses reduce real driver profit to a median of $0.29/mile. For tax purposes the $0.54/mile standard mileage deduction in 2016 means that nearly half of drivers can declare a loss on their taxes. If drivers are fully able to capitalize on these losses for tax purposes, 73.5% of an estimated U.S. market $4.8B in annual ride-hailing driver profit is untaxed.

Keywords: Transportation, Gig Economy, Cost-Benet Analysis, Tax policy, Labor Center
Full Paper | Research Brief

——-

Addendum on 3/7/18:

The ride-hailing wage war continues

How much do Lyft and Uber drivers really make? After reporting in a study that their median take-home pay was just 3.37/hour—and then getting called out by Uber’s CEO—researchers have significantly revised their findings.

Closer to a living wage: Lead author Stephen Zoepf of Stanford University released a statement on Twitter saying that using two different methods to recalculate the hourly wage, they find a salary of either $8.55 or $10 per hour, after expenses. Zoepf’s team will be doing a larger revision of the paper over the next few weeks.

Still low-balling it?: Uber and Lyft are adamant that even the new numbers underestimate what drivers are actually paid. “While the revised results are not as inaccurate as the original findings, driver earnings are still understated,” says Lyft’s director of communications Adrian Durbin.

The truth is out there: Depending on who’s doing the math, estimates range from $8.55 (Zoepf, et al.) up to over $21 an hour (Uber). In other words, we’re nowhere near a consensus on how much drivers in the gig-economy make.

——-

The number of Americans working for themselves could triple by 2020 — from work.qz.com by Amy Wang

Excerpt (emphasis DSC):

Americans are as eager to work as ever. Just no longer for somebody else.

According to FreshBooks, a cloud-based accounting company that has conducted a study on self-employment for two years, the number of Americans working for themselves looks to triple—to 42 million people—by 2020.

The trend, gauged in a survey of more than 2,700 full-time US workers in traditional, independent, and small business roles about their career plans, is largely being driven by millennial workers. FreshBooks estimates that of the next 27 million independent workers, 42% will be millennials. The survey, conducted with Research Now, also finds that Americans who already work for themselves are suddenly very content to keep doing so, with 97% of independent workers (up 10% from 2016) reporting no desire to return to traditional work.

From DSC:
With the continued trend towards more freelancing and the growth of a more contingent workforce…have our students had enough practice in selling themselves and their businesses to be successful in this new, developing landscape?

We need to start offering more courses, advice, and opportunities for practicing these types of skills — and the sooner the better! I’m serious. Our students will be far more successful with these types of skills under their belt. Conversely, they won’t be able to persuade others and sell themselves and their businesses without such skills.

Mapping the Trends on Our Doorstep: The Pace of Change Has Changed [Christian; evoLLLution.com]

On 02/19/2018, in 21st century, Artificial Intelligence / Machine Learning / Deep Learning, business, business side of he, career development, change, changing business models, Christian education, cognitive computing, colleges, community colleges, corporate / business world, corporate universities / corporate training, dangers of the status quo, Daniel S. Christian, disruption, future, future of higher education, game-changing environment, generational differences, higher education, human-computer interaction (HCI), ideas, innovation, leadership, organizational change, pace of change, reinvent, society, staying relevant, student-related, surviving, Technologies for your home, trends, United States, universities, vision, workplace, youth, by Daniel Christian

Mapping the Trends on Our Doorstep: The Pace of Change Has Changed — from an article that I did out at — and with — evoLLLution.com [where LLL stands for lifelong learning]; my thanks to Mr. Amrit Ahluwalia, Managing Editor out at evolllution.com and to his staff as well!
The higher education industry has changed significantly over the past decade, and given the pace and significance of change hitting other industries as a result of technological advances, it’s fair to say the postsecondary space is ripe for further transformation.

From DSC:
From the perspective of those of us working within higher education, we see massive changes occurring in the corporate world, and we see innovations and changes also occurring in the world of K-12. Higher education should also be adapting, changing, questioning, and reflecting upon how we can best prepare our students for a rapidly changing workplace.

Below is another interesting item that I believe gives credence to the idea that we are now on an exponential pace of change. Companies are coming and going on the S&P Index…at an ever faster pace.

The 33-year average tenure of companies on the S&P 500 in 1964 narrowed to 24 years by 2016 and is forecast to shrink to just 12 years by 2027 (Chart 1).

Here is the video:

This is the transcript with the original graphs in it.

This is a nice PDF file from evoLLLution.com with the transcript, with some different graphics and some other

2018 Key Issues in Teaching and Learning — from educause.edu

Learning Ecosystems

The Law Firm Disrupted: Walmart Won’t Pay You to Cut and Paste [Strom]

“The Changing Landscape of Online Education: A Deeper Dive” [Quality Matters & Eduventures Research]

Hmmm…this is not good news for Uber & Lyft drivers. [Levin] #BusinessModels

2018 Key Issues in Teaching and Learning

Categories

Tags

Looking for something?

Visit our friends!

Archives