MOOC and open education business models
Well written post about how to make money with open education. I actually believe most in the model suggested by Udacity, which is one of making money as a people-broker.
Udacity has suggested that it might double as a headhunter for companies that might like to hire some of its more impressive students. Instead of simply selling those students credentials that they can list on their resumes while looking around for jobs, Udacity would offer to match students with companies that have enlisted Udacity as a talent scout. (The company has already hired a full-time jobs counselor to lay groundwork with potential employers.) Udacity would take a commission for each successful match, same as a headhunter.
As, over time, millions of people follow open courses through platforms as Udacity and Coursera, and if they offer a large variety of courses (within one domain or more), they are able to know which of the learners are the best performers. Not only could they base their analysis of individual ‘value’ on knowledge (as we do now with credentials), but a platform like Udacity could, with added functionality, grow into a more encompassing learning network that monitors your interests, your ability and willingness to help others in the forums, scientific and social impact, and social network. This will give a more complete picture of someone than only the grades/courses done, as we see in traditional education. From this perspective, I also think that it will be difficult for traditional education not to jump on the OER bandwagon, but they should definitely consider these new players in the learning field and their own ability to offer something similar.
Read more on Inside Higher Ed.
