Select the industry in which you work, worked or would like to work, or simply have...

Select the industry in which you work, worked or would like to work, or simply have an interest in. Which companies are the leaders in that particular industry? What practices have made them become a leader? What are the risks those companies face?

Expert Solution

The industry I worked with was the Ed-tech industry.

Let’s understand first of all what the Ed-tech industry is?

Ed-tech is basically made from two words Education+ Technology which in short is the Ed-tech industry. The aim of the Ed-tech industry is to improve our education with the use of technology. By using modern methods of teaching such as providing classes to students at their home through online and offline.

Ed-tech’s main motive is to provide quality education to students by the unique methods of teaching. These industries focus on the learning concept of the students and they try to make them understand the concepts instead of cramming things. Another good thing about Ed-tech industry is that they also focus on the entertainment part in the studies or we can say they believe that if the students are taught through interactive activities and games they understand things better. Most of the Ed-tech follows this concept just to make sure that students get a different way of learning.

Products that Ed- tech industry provides are:

Live classes
Mooc courses
Online study material
Offline study material
Interactive learning
Personalized teachers
Learning through quizzes, puzzles, and games
Reward-based learning
Video lectures
Recorded lectures

There are many companies that are the leader in Ed-tech industry

Byju’s
Yuan-fudao
Age-of-learning
Hu-Jiang
Andela-programming education
Kaltura's
Blink-learning

Best practices by the Ed-tech companies which make them leaders are as follows:

Creating the right platform to engage the students
Making the product unique from other companies by adding some unique features or adopting the differentiation business strategy.
Developing the product according to the students and teachers.
Developing the best team of creative minds and animators.
By researching the price and the competitor analysis.
By positioning their product to the right target market.
By sticking to their long term goals
By promoting aggressively is the best option considered by the Ed-tech companies that make them the market leader.

Major risks faced by the Ed-tech companies are:

Student privacy concerns are the major risk that is been faced by the major Ed-tech companies in the world because of hackers these companies take extra precautions to make the privacy of the students.
Another major challenge faced by the Ed-tech companies is the budgets that are very extremely thin and even getting thinner. Still to cover up this challenge major companies are providing free trails just to reach the target students.
Another major risk that is been faced by the Ed-tech companies is the poor digital infrastructure and low completion rates which proves to be the biggest challenge for Ed-tech.

keosha answered 1 year ago

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