Question

you are to identify an industry or business in which you are interested - Online higher education industry, people earning their bachelor degrees & up online.

What economic principles and associated analytical perspectives/tools are most helpful in deeply understanding the changes that are occurring in the strategic context of the industry in question? Provide a specific example of an economic insight that could be gained and subsequently leveraged to heighten the organization's competitive performance. What are some of the kinds of macro-economic changes that will be difficult to predict with existing economic models?

Answer 1

Largescale changes in education sectir luke growung students debt, massive open online courses, visa issues have created disruption and led to innovation ajd government intervention to create sustainable positive change.

Universities now need to heighten performance through strategic competitiveness by staying ahead of curve and implementation of technology to latest learning methods, imporving hands on learning experience as pedagogy, allowing peer review and new age learning skill methods like role plays, case studies, groupd discussions, live seminars, puzzles, etc.

Most importantly the availability, accessibility ajd affordability needs to be reframed.

State interference is must for optimum level of social education as private players tend to charge exorbitant fees which causes market distortion and accessibility to education gets plummeted. State interference causes correct dissemination and implementation of social education through subsidised fees and ensures penetration is large. Appropriate level of schooling is where basic life sciences, safety, sex education, disaster prevention and practical learning is imparted to become self sufficient and morally responsible. This creates positive externality as individuals get transformed and their thinking is rewired to extent which prevents them from doing unethical and illegal actions.

Education in less development countries is largely scattered and not proliferated amingst masses which causes richer sections to leverage education facilities and grow richer however the poorer sections face inaccessible and unaffordable education services which alleviates poverty and thus income inequality gap widens due to massive unemployment amongst poorer.

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