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A Case Study of Financial Consideration of eLearning at Assumption University. Prof.Dr. Srisakdi Charmonman Board Chairman and CEO College of Internet Distance Education Assumption University. www.charm.au.edu. [email protected]. Keynote Address - PowerPoint PPT Presentation
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A Case Study of Financial Consideration of eLearning
at Assumption University
www.charm.au.edu
Prof.Dr. Srisakdi CharmonmanBoard Chairman and CEO
College of Internet Distance EducationAssumption University
Keynote Address
International Conference on eBusiness 2008 (INCEB 2008)
Grand Mercure Fortune Bangkok Hotel
November 6-7, 2008
1. Introduction.
2. The College of Internet Distance Education of Assumption University.
3. Financial Consideration of M.Sc. in Management Program.
4. Financial Consideration of M.Sc. In ICT Program.
5. Financial Consideration of Ph.D. in eLearning Methodology Program.
6. Financial Consideration of Certificate Program.
7. Financial Consideration of Chorus Program.
8. Concluding Remarks.
A Case Study of Financial Consideration of eLearning at Assumption University.
2
The term “eLearning” may be defined as learning thru electronic means and the electronic means of choice is the Internet.
3
1. Introduction.
According to Sloan Consortium, the term “eLearning” should be used only when the Internet is employed 80-100% of all learning activities.
4
Introduction (Cont.)
As of the year 2008, about 96% of large US academic institutions (with at least 15,000 students) are offering eLearning.
5
Introduction (Cont.)
There is no subject in which eLearning is not used in the US.
There are many highly successful and profitable eLearning universities, notably University of Phoenix which has been making net profit per year of billions of baht.
6
Introduction (Cont.)
There have also been unsuccessful and unprofitable eLearning programs, notably UKeU (United Kingdom eUniversity).
Therefore, it is highly desirable to make financial consideration of eLearning programs.
7
Introduction (Cont.)
It may be said that there are three levels of eLearning- University level.- K12 level.- Corporate level.
8
Introduction (Cont.)
The university level includes mainly degree programs and certificate programs operated
by higher educational institutions. The K12 level includes eLearning
for kindergarten to Grade 12.
9
Introduction (Cont.)
Corporate level includes
training programs
at business organizations as well as governmentand semi-government organizations.
Introduction (Cont.)
10
Prof. Srisakdi Charmonman’s proposal to establish the College of Internet Distance Education was approved by the Board of Trustees of Assumption University on April 25, 2002, with himself as - Chairman of the Board. - Chief Executive Officer (CEO) of the College.
2. The College of Internet Distance Education of Assumption University.
11
Prof. Srisakdi Charmonman also wrote the first draft of the decree to legalize eLearning in Thailand which was later published in the Royal Gazette in October 2005.
CIDE of AU (Cont.)
12
The College is managed more or less like a business
in the sense that it is headed by: - Chief Executive Officer (CEO) similar to a university president. - Chief Technology Officer (CTO) similar to the Vice President for Technology.
CIDE of AU (Cont.)
13
- Chief Operating Officer (COO) similar to the Vice President for Administration. - Chief Academic Officer (CAO) similar to the Vice President for Academic Affairs
CIDE of AU (Cont.)
14
The College of Internet Distance Education was established to offer eLearning without the purpose of making profit. As a matter of fact, about 15 US$ million was invested to construct “Srisakdi Charmonman IT Center” with 12 floors and about 12,000 square meters as well as all the required IT and audio visual equipments.
CIDE of AU (Cont.)
15
Srisakdi CharmonmanIT Center.
16
The College of Internet Distance Education of Assumption University, - The first university in Thailand to offer a complete university
degree program.
- The first university in the world to offer
the Ph.D. program in eLearning
Methodology.
CIDE of AU (Cont.)
17
The College uses eBusiness for eLearning in the sense that all the processes are done thru the Internet, including- eAdvertising of the eLearning programs.- eApplication where students submit their applications thru the Internet.
CIDE of AU (Cont.)
18
- eInterview in which the admission officers interview the applicants thru the Internet.- eAdmission in which the announcements that the students have been admitted into the programs are made thru the Internet.- eRegistration where students register for the courses thru the Internet.
CIDE of AU (Cont.)
19
- eAttendance where students listen to or view the lectures thru the Internet.- eAssignment where students get the assignment and submit their work thru the Internet.- eExamination in which students take the examinations thru the Internet.
CIDE of AU (Cont.)
20
- eGrading in which the professors post the grades and students read the grades thru the Internet.- eGraduation in which students may join the graduation ceremony thru the Internet.
CIDE of AU (Cont.)
21
There have been over 300 students in the Master of Science in Management Program.
The program requires 36 credits or 12 courses.
22
3. Financial Consideration ofM.Sc. in Management Program.
There are 5 majors:1 Small Medium Enterprises
Management. 2 Human Resource Management.3 Technology Management.4 Strategic Marketing Management.5 Business Management.
23
M.Sc. in Management (Cont.)
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6 Core Courses
MS6501 Organization Management
MS6502 Marketing Management
MS6503 Financial Management
MS6504 Operations Research
MS6505 Research Methods
MS6506 Strategic Management
M.Sc. in Management (Cont.)
25
Small Medium EnterprisesElective Courses
MS6511 SME and New Venture Management.
MS6512 Venture Capital for Entrepreneurs.
MS6513 Managing Growing Enterprises.
MS6514 Managing the New Product Development Process and Innovation.
MS6515 Advanced Topics in Entrepreneurship.
MS6516 SME Venture Plan.
MS6517 Seminar in SME Management.
M.Sc. in Management (Cont.)
26
Human Resource Management Elective Courses
MS6521 Human Resource Management.
MS6522 Leadership and Interpersonal Dynam.
MS6523 Organization Design and Behavior.
MS6524 Motivation and Productivity.
MS6525 Employee Development and Training.
MS6526 Negotiation.
MS6527 Advanced Topics in Human Resource Management.
MS6528 Seminar in HRM Management.
M.Sc. in Management (Cont.)
27
Technology Management Elective Courses
MS6531 Technology Entrepreneurship.
MS6532 Operations & Technology Management.
MS6533 Marketing of High Technology.
MS6534 Information Communication Technology Management.
MS6535 Strategic Management of Technology and Innovation.
MS6536 Advanced Topics in Technology Management.
MS6537 Seminar in Technology Management.
M.Sc. in Management (Cont.)
28
Strategic Marketing Management
Elective CoursesMS6541 Consumer Behavior.
MS6542 Pricing Strategies.
MS6543 Product and Brand Management.
MS6544 Integrated Marketing Communication.
MS6546 Marketing Strategy.
MS6547 Customer Relationship Management.
MS6548 Advanced Topics in Strategic Marketing Management
MS6549 Seminar in Strategic Marketing Management.
M.Sc. in Management (Cont.)
29
Business Management
Elective CoursesMS6551 SME and New Venture Management.
MS6552 Venture Capital for Entrepreneurs.
MS6553 Managing Growing Enterprises.
MS6554 Managing the New Product Development Process and Innovation.
MS6555 Advanced Topics in Entrepreneurship.
MS6556 SME Venture Plan.
MS6557 Seminar in SME Management
M.Sc. in Management (Cont.)
Consideration I : Courseware Only.
The Contract for each Subject Expert
is to develop a courseware
to be used 9 times
or 3 years, each with 3 trimesters.
30
M.Sc. (Management) Financial
Each course includes 45 hours. In the classroom case,
the honorarium is 1,500 baht/hour
or 67,500 baht/trimester
or 607,500 baht for 3 years.
31
M.Sc. (Management) Financial Consideration I (Cont.)
It was decided to pay the Subject
Expert 180,000 baht per courseware
to use 3 years. The amount 180,000 baht is only
about 30% of 607,500 baht.
32
M.Sc. (Management) Financial Consideration I (Cont.)
A total of 30 coursewares have been
developed.
The cost for the Subject Expert
is 30 x 180,000 = 5,400,000 baht With 300 students each taking
12 courses the income would be
300 x 36 x 4,000 = 43,200,000 baht33
M.Sc. (Management) Financial Consideration I (Cont.)
The income over expenses or Gross Profit
is 43,200,000 – 5,400,000 baht
= 37,800,000 baht
34
M.Sc. (Management) Financial Consideration I (Cont.)
For the M.Sc. (Management) program,
the CLMS (Content and Learning Management System) was “AUplus” developed by Sarmart Telecoms (Samtel).
CIDE and Samtel made an agreement for Samtel to be paid about 3,000 baht
per student per trimester.
35
M.Sc. (Management) Financial Consideration I (Cont.)
Assuming that a student takes
4 courses/ trimester, each student
requires 3 trimesters.
The payment to Samtel would be about
300 x 3 x 3,000 = 2,700,000 baht The income over expenses or Gross Profit for
courseware development and CLMS
is 37,800,000 – 2,700,000
= 35,100,000 baht
36
M.Sc. (Management) Financial Consideration I (Cont.)
Consideration II : Income/Expenses
For One Year
Income
1) Entrance Fees
200 students @ 1,000 baht = 200,000 baht
2) Matriculation Fees
100 students @ 8,000 baht = 800,000 baht
37
M.Sc. (Management) Financial
3) Student Activities Fees 100 students @ 6,000 baht = 600,000 baht
4) Tuition Fees From all the batches 14,220,000 baht
5) Miscellaneous Fees Proposal defenses, 3,800,000 baht Final defenses, etc.
6) University Fees 12,500 baht each 4,218,000 baht Total Income About 23,838,000 baht 38
M.Sc. (Management) Financial Consideration II (Cont.)
Expenses
1) Samtel Expenses 1,200,000 baht
2) Facilitator Expenses 2,300,000 baht
750 baht/hour
3) Research Supervision, 3,800,000 baht
Exams, etc.
39
M.Sc. (Management) Financial Consideration II (Cont.)
4) Exam Supervising 1,000,000 baht
5) PR, Miscellaneous 3,000,000 baht
Total Expenses 11,300,000 baht
Income over expenses or Gross Profit about 23,800,000 – 11,300,000
= 12,500,000 baht40
M.Sc. (Management) Financial Consideration II (Cont.)
There have been over 100 students in the Master of Science in ICT Program with 4 majors :- Information Technology Major.- Computer Communications and Network Major.- Computer Graphics and Animation Major.- Technology Management Major.
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4. Financial Consideration ofM.Sc. in ICT Program.
42
ICT 6000 Computer System Organization.
ICT 6001 Information System Development.
ICT 6002 Internet Technologies.
The 3 Core Courses
M.Sc. in ICT Program (Cont.)
43
In each major, a student must take3 core courses, 3 major required
courses plus 5 elective courses from other majors or from M.Sc. in Management and a 3-credit project.
M.Sc. in ICT Program (Cont.)
44
Information TechnologyRequired Courses
ICT 6100 Database Design and Management.
ICT 6101 Mobile and Wireless Technology.
ICT 6200 Computer Communication Network.
M.Sc. in ICT Program (Cont.)
45
Computer Communications and Network Required Courses
ICT 6200 Computer Communication Network.
ICT 6201 Mobile and Wireless Technology.
ICT 6203 Computer and Network Security.
M.Sc. in ICT Program (Cont.)
46
Computer Graphics and Animation Required Courses
ICT 6300 Computer Graphics.
ICT 6302 Internet Multimedia.
ICT 6304 3D Modeling.
M.Sc. in ICT Program (Cont.)
47
Technology Management
Required CoursesICT 6400 Management Information System.
ICT 6401 Information Technology Management.
ICT 6404 Enterprise Database System.
M.Sc. in ICT Program (Cont.)
48
The CLMS used in M.Sc. (ICT)
is “SCITplus” developed at SCIT
from Moodle. The payments to Subject Experts
and Facilitating, Instructors are paid
only when the coursewares are used.
M.Sc. in ICT Program (Cont.)
49
The rate is
30,000 baht to Subject Expert
30,000 baht to Facilitating Instructor
Total = 60,000 baht
for each time the courseware is used. In case of the classroom mode,
the instructor is paid
45 hours x 1,500 baht = 67,500 baht
M.Sc. in ICT Program (Cont.)
50
Approximate Revenue Per Year
1) Entrance Fees 70,000 baht
70 students at 1,000 baht
2) Matriculation Fees 360,000 baht
45 students at 8,000 baht
3) Student Activities Fees 270,000 baht
at 36,000 baht
M.Sc. in ICT Program (Cont.)
51
4) Tuition Fees 6,000,000 baht
5) Miscellaneous Fees 2,000,000 baht
6) University Fees 2,400,000 baht
Total Income about 10,100,000 baht
M.Sc. in ICT Program (Cont.)
52
Approximate Expenses Per Year
1) Subject Expert 1,080,000 baht
3 trimesters x 12 course x 30,000
2) Facilitators Expenses 1,080,000 baht
3) Research Supervision, 1,500,000 baht
Exams, etc.
4) PR, Miscellaneous 1,500,000 baht
Total Expenses 5,160,000 baht
Gross Profit 4,940,000 baht
M.Sc. in ICT Program (Cont.)
As of October 2008, the Doctor of Philosophy Program in eLearning Methodology is the only such program in the world.
5.1 Graduation Requirements.5.2 Nationalities of Ph.D. in eLearning
Methodology Students. 5.3 Nationalities of Ph.D. in eLearning
Methodology Applicants.5.4 Income Expenses
53
5. Financial Consideration for Ph.D. in eLearning Methodology
Assumption University confers the degree of Doctor of Philosophy in eLearning Methodology upon students who meet all the requirementsas follows:
1) Pass the qualifying examination.2) Pass the dissertation proposal defense
and dissertation final defense.
54
5.1 Graduation Requirements.
3) Pass English language test such as TOEFL score of at least 550 PBT/213 CBT or IELTS score of 6.5 or other English tests that are of equivalent standard.
4) Have the dissertation or a part of dissertation published or obtain an acceptance by a scholarly publication with peer review.
55
Graduation Requirements (Cont.)
5) Complete at least 48 credits approved for the dissertation.
6) Library and financial clearance with the University.
56
Graduation Requirements (Cont.)
As of the year 2008, the Ph.D. in eLearning Methodology program has six batches which include 12 nationalities: - American - Canadian- British - Australian- New Zealander - Iranian- Filipino - Paraguayan- Vietnamese. - Burmese- Romanian - Thailand
Approximately 45 % of the students are Foreigners.
57
5.2 Nationalities of Ph.D. in eLearning Methodology Students.
Nationalities of Ph.D. in eLearning Methodology Students.
Ph.D. Students at CIDE, 2007
Thai
Iranian
Filipino
Australian
New Zealander
Canadian
Paraguayan
American
Vietnamese
Myanmese
British
Romanian 58
Based on the database the applicants included 20 nationalities: - Thai - Iranian- Filipino - Australian- New Zealander - Canadian - Paraguayan - American - Vietnamese - Burmese - British - Romanian
59
5.3 Nationalities of Ph.D. in eLearning Methodology Applicants.
- German - Chinese - Japanese -
Kenyan
- Srilankan Tamil - Pakistani
- Sri Lankan - Gambian Similar to the nationality
of Ph.D. students, approximately 44 % of applicants are foreigners.
60
Ph.D. Methodology Applicants (Cont.)
61
5.4 Income Expenses
There is no course requirement
for the Ph.D. program
and thus no courseware expense. The Ph.D. income:
1) Admission Processing 36,000 baht
24 students @ 1,500
62
Income Expenses (Cont.)
2) Matriculation Fees 192,000 baht
24 students x 8,000
3) University Fees 300,000 baht
24 students x 12,500
4) Tuition Fees 3,024,000 baht
48 students
x 9 credits x 7,000
63
5) Qualified Exams 720,000 baht
24 students x 30,000
6) Dissertation Proposal 288,000 baht
24 students x 12,000
7) Dissertation Final Defense 175,000 baht
7 x 25,000
Total Revenues 4,735,000 baht
Income Expenses (Cont.)
64
The Ph.D. Expenses
1) Q ualified Written Exams 126,000 baht
21 students x 3 instructors
x 2,000
2) Oral Exams 168,000 baht
21 students x 4 instructors
x 2,000
3) Dissertation Proposals 210,000 baht 21 students x 5 instructors x 2,000
Income Expenses (Cont.)
65
4) Seminar Speakers 60,000 baht
12 speakers x 5,000
5) Dissertation Advisors 1,000,000 baht
6) PR, Miscellaneous 500,000 baht
Total Ph.D. Expenses/year 2,064,000 baht
Income over Expenses or Gross Profit
4,735,000 – 2,064,000
= 2,671,000 baht/year
Income Expenses (Cont.)
CIDE Cooperates with SME to provide 18 courses:
66
6. Financial Considerationof Certificate Program
SME101 Concepts of Starting SME Business
SME102 Introduction to Marketing for SME
SME103 Financial Management for SME
SME104 Accounting and Budgeting for SME
67
Certificate Program (Cont.)SME105 Production and Service Management for
SME
SME106 Sustainable Growth in SME Business
SME107 Analysis of Trends, Opportunities and Strategies for SME
SME108 Creativities and Innovations for SME
SME109 Information Technology and eCommerce for SME
SME110 SME Business and Advanced Marketing
SME111 Risk Management and Internal Control for SME
SME112 Business Plan for SME
68
Certificate Program (Cont.)
SME201 The Roles of the Office of Small and Medium Enterprise Promotion
SME202 Promotion of Brand Names
SME203 Knowledge Management for SMEs
SME204 Cost Management
SME205 Import and Export
SME206 Supply Chain Management and Logistic
69
The 18 courses are available free
of charge because the project
has been paid by OSMEP (Office of Small and Medium Enterprise Promotion)
The approximate budget: 1) Personal 1,742,900 baht
2) Operating 5,957,100 baht
Total 7,700,000 baht
Certificate Program (Cont.)
70
There are 9 million members of SME. Over 20,000 have registered. We hope to get at least 1 million
participants.
Certificate Program (Cont.)
CIDE has cooperated with the Hospice Foundation of Thailand to produce “eLearning for Bedside Chorus for Palliative Care”.
71
7. Financial Consideration for Chorus Program
Ten songs have been implemented “อิ่��มอิ่� �น” หน�งในร้ อิ่ย“ ”“เร้าม�เร้า” วิ�มานดิ�น“ ”“ร้�กไม�ร้� ดิ�บ” ชั่��วิฟ้�าดิ�นสลาย“ ”“ย��มส� ” ฝากฟ้�าทะเลฝ"น“ ”“ขอิ่ไม�เป็%นเหม&อิ่นใคร้” ร้�ก“ ”
72
7. Financial Consideration for Chorus Program(Cont.)
73
CIDE provides the service free
of charge or as a charity:
- Courseware on how to sing
- Singing lessons
- Delivery of the courseware
Chorus Program (Cont.)
74
As of the year 2008, 96% of large
US academic Institutions
(15,000 students up)
are offering eLearning. Some institutions are highly successful and
profitable like Phoenix in the US. Some institutions are sadly unsuccessful and
waste a lot of money, like UKeU in the UK. Every institution should make financial
consideration of their eLearning programs.
8. Concluding Remarks
75
A case study at the College of
Internet Distance Education of
Assumption University is given:
- Ph.D. Programs
- Master’s Programs
- Certificate Programs
- Charity Program
Concluding Remarks (Cont.)
76
All parties should examine
case studies at various institutions
to apply the experiences
for the benefits of their own
organizations and, eventually,
their country.
Chorus Program (Cont.)