Number of Pages : 100 leaves
Adviser : Prof. Edison D. Cruz
Abstract
Problem
A lot of employed people want to pursue graduate studies for personal and professional growth. Upgrading of skills and know how open doors to further career development and better earning potential. But majority of these qualified people do not pursue graduate school for many reasons, chief among them the lack of time and resources. For those who do start graduate studies, many do not finish just shy of graduation because of an unfinished thesis.
For those who do finish graduate school, the lure of careers abroad is too lucrative to pass up resulting to brain drain of our most-skilled, better trained, and highly educated citizens.
In a society and world where a bachelor's degree is slowly losing its previous luster, a postgraduate degree is not just a want but a must to get ahead.
Solution
A solution to the problem is for an HEI to offer online master's degree programs that do not have a thesis. Such degrees are called Professional Master's degrees. These PM degrees are skills-based like what UP BGC is offering with their PM DSA program (Professional Master in Data Science Analytics). The purpose of a PM degree is to provide advanced training in the chosen field while simultaneously developing workplace skills.
This capstone project is a business plan that details the necessary information for a CHED level III accredited HEI to venture into the online platform and offer such degrees to the public.
Customer Selection/Target Market
The target customers are bachelor's degree holders with the financial capabilities (employment, scholarships, savings, etc.) and the will to pursue graduate studies. In June 2018, there were 214,540 Filipinos who enrolled in master's degree programs across the country. This proves that there is a demand for graduate degree courses. The marketing research survey conducted by the author also confirms that employed bachelor's degree holders are highly interested in getting a master's degree for various reasons, e.g. career development, better earning potential, or to achieve additional training.
Unique Value Proposition
The unique value the venture offers is that of a purely online graduate school that offers master's degree programs without a thesis. No HEI in the country is currently offering such programs via online means.
The venture creates value for both the learner/customer and society. For the customer, travel time to school is eliminated. The customer enjoys flexibility, autonomy, and quality, low cost education. For the society, online education reduces carbon emission, saves electricity and water, does not produce garbage, saves trees and there is no discrimination or racism.
Organizational Design
For an HEI to open an online arm, this study suggests that there initially be around 10 team members for the first two years of operations :
a) The CEO cum TM who shall oversee the entire venture;
b) The CTO cum web developer who will create and manage the website, and the technical aspects of the venture;
c) The secretary who will liaise with the HEI and the public;
d) The program adviser who will be in charge of a program;
e) Three subject instructors who will each handle at most three subjects;
f) The teaching assistants (TAs, 1 TA per 200 students), who will check reaction, papers, essays, homework, help the subject instructors in creating educational materials, answer students' questions, to name a few,
g) The video editor cum animator for each subject.
The venture is repeatable and scalable. For each program added, new program advisers, subject instructors, teaching assistants and video editors will be hired.
Differentiation and Controls
Instead of pursuing a cost leadership strategy, the author suggests that a differentiation strategy be employed instead. This can be achieved by offering something that is currently not being offered in the local market : a purely online graduate school that offers Professional Master's degrees.
Suggested controls for monitoring ongoing operations include but are not limited to the following : devising a milestone review schedule, developing a tracking system for measurable goals, coordinating between and among the content makers and marketing, and backing up of data and content.
Scope of Product Activities
The suggested product initially offered would be a master's degree program called Professional Master's In Data Science. It is completely online, has no thesis, and is comprised of at most ten subjects six of which are core subjects, three are electives, and one is the special project. In year 1, the website and the content of the learning materials will be developed. Marketing will commence to create awareness and interest. In year 2, the program will be launched. In year 3, additional people will be hired to create the contents of five additional programs while implementing lessons learned from the first two years of operations. In year 4, the five new programs are launched. In year 5, the venture will turn cash flow positive and go beyond breakeven by end of year 6.
Value for Talent
The author suggests that the implementing HEI pay members of the venture above industry standard salaries to prevent attrition. Shouldering the costs for local and international seminars and training is highly suggested as well. Telecommuting options and annual teambuilding activities are encouraged.
Value for Profit, Projected Revenues, and Enrollment Figures
Marketing will be a key activity in the first few years of operations to create awareness, generate interest, and build an initial customer base. The main avenue for marketing will be via Facebook advertising as the target market segment is composed mostly of digital natives.
Possible Source of Funding
This capstone project is intended to be used by any HEI that has the financial capability. It is not the aim of this paper to teach HEIs how to secure financing. The implementing HEI should be able and willing to allot P178 million in the venture. This amount, though huge at the beginning, will be paid back with interest after five years of operations.
For those who do finish graduate school, the lure of careers abroad is too lucrative to pass up resulting to brain drain of our most-skilled, better trained, and highly educated citizens.
In a society and world where a bachelor's degree is slowly losing its previous luster, a postgraduate degree is not just a want but a must to get ahead.
Solution
A solution to the problem is for an HEI to offer online master's degree programs that do not have a thesis. Such degrees are called Professional Master's degrees. These PM degrees are skills-based like what UP BGC is offering with their PM DSA program (Professional Master in Data Science Analytics). The purpose of a PM degree is to provide advanced training in the chosen field while simultaneously developing workplace skills.
This capstone project is a business plan that details the necessary information for a CHED level III accredited HEI to venture into the online platform and offer such degrees to the public.
Customer Selection/Target Market
The target customers are bachelor's degree holders with the financial capabilities (employment, scholarships, savings, etc.) and the will to pursue graduate studies. In June 2018, there were 214,540 Filipinos who enrolled in master's degree programs across the country. This proves that there is a demand for graduate degree courses. The marketing research survey conducted by the author also confirms that employed bachelor's degree holders are highly interested in getting a master's degree for various reasons, e.g. career development, better earning potential, or to achieve additional training.
Unique Value Proposition
The unique value the venture offers is that of a purely online graduate school that offers master's degree programs without a thesis. No HEI in the country is currently offering such programs via online means.
The venture creates value for both the learner/customer and society. For the customer, travel time to school is eliminated. The customer enjoys flexibility, autonomy, and quality, low cost education. For the society, online education reduces carbon emission, saves electricity and water, does not produce garbage, saves trees and there is no discrimination or racism.
Organizational Design
For an HEI to open an online arm, this study suggests that there initially be around 10 team members for the first two years of operations :
a) The CEO cum TM who shall oversee the entire venture;
b) The CTO cum web developer who will create and manage the website, and the technical aspects of the venture;
c) The secretary who will liaise with the HEI and the public;
d) The program adviser who will be in charge of a program;
e) Three subject instructors who will each handle at most three subjects;
f) The teaching assistants (TAs, 1 TA per 200 students), who will check reaction, papers, essays, homework, help the subject instructors in creating educational materials, answer students' questions, to name a few,
g) The video editor cum animator for each subject.
The venture is repeatable and scalable. For each program added, new program advisers, subject instructors, teaching assistants and video editors will be hired.
Differentiation and Controls
Instead of pursuing a cost leadership strategy, the author suggests that a differentiation strategy be employed instead. This can be achieved by offering something that is currently not being offered in the local market : a purely online graduate school that offers Professional Master's degrees.
Suggested controls for monitoring ongoing operations include but are not limited to the following : devising a milestone review schedule, developing a tracking system for measurable goals, coordinating between and among the content makers and marketing, and backing up of data and content.
Scope of Product Activities
The suggested product initially offered would be a master's degree program called Professional Master's In Data Science. It is completely online, has no thesis, and is comprised of at most ten subjects six of which are core subjects, three are electives, and one is the special project. In year 1, the website and the content of the learning materials will be developed. Marketing will commence to create awareness and interest. In year 2, the program will be launched. In year 3, additional people will be hired to create the contents of five additional programs while implementing lessons learned from the first two years of operations. In year 4, the five new programs are launched. In year 5, the venture will turn cash flow positive and go beyond breakeven by end of year 6.
Value for Talent
The author suggests that the implementing HEI pay members of the venture above industry standard salaries to prevent attrition. Shouldering the costs for local and international seminars and training is highly suggested as well. Telecommuting options and annual teambuilding activities are encouraged.
Value for Profit, Projected Revenues, and Enrollment Figures
Marketing will be a key activity in the first few years of operations to create awareness, generate interest, and build an initial customer base. The main avenue for marketing will be via Facebook advertising as the target market segment is composed mostly of digital natives.
Possible Source of Funding
This capstone project is intended to be used by any HEI that has the financial capability. It is not the aim of this paper to teach HEIs how to secure financing. The implementing HEI should be able and willing to allot P178 million in the venture. This amount, though huge at the beginning, will be paid back with interest after five years of operations.
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