A university professor describes the educational experience in terms of value creation. What do residential college students require to get the most value out of classes and how does the experience compare in value generation to online competion?
This is real interesting stuff. One of a residential college’s traditional propositions is the lecture. Common wisdom would dictate that university planners should continue delivering this proposition to market.
José A. Bowen explains that the value that a university can compete with isn’t in the lecture anymore. Given the context of cheaper, higher quality online lectures from Harvard or Stanford, the average college can’t compete (as Bowen puts it, most of the lectures on his campus are crap”).
Instead, Bowen draws a value map which clearly identifies the competitive value as being not the lecture but the co-created value that is generated by a roomful of students ardently quizzing the lecturer.
I think most businesses could probably benefit from applying this value-mapping framework :-)