ETEC 522 Ventures in Learning Technology
Reflections
ETEC 522 covered business ventures relating to education technology. The most interesting aspect of this course was that the course took place on a WordPress platform, which allows everyone who took a course to return back and review the course content and blog posts made by students in various cohorts at any time. I was interested in ETEC 522 because it offered a good chance for me to learn more about the business of eLearning and develop my own business idea. I have also chosen it because the structure of this course closely resembled ETEC 565M, which I loved and found very useful and applicable. ETEC 522 allowed me to carry forward many of the ideas I have learned. For me, this course built a firm foundation in the practical business applications of building eLearning opportunities.
I found this course very challenging. One of my challenges was to keep up with the posts. I learned how to use tags, and it seemed to help in finding the threads I was interested in and organizing my own material for future reference.
Another challenge was the business terminology I had to learn to be able to participate in the course. It is great to be able now to understand how to determine if an educational technology venture is financially worthwhile. I believe this knowledge will help me to stand out in the job market as I can help a company to decide if implementing educational technology will be financially worthwhile.
In this course, we had to take a role of an Educational Venture Analyst (EVA) - someone who analyzes a venture to see if it is viable. We used various assessment strategies to analyze ventures and predict which of them are likely to succeed and which are not. Through the CUBE analysis, venture analysis, elevator pitch and overall evaluation of technology analysis using the Bates and Poole Sections Model (2003), I learned to think critically about the cost and effectiveness of educational ventures. These tasks helped us to prepare for creating our own venture and analyze its viability with a critical eye. I have also learned how to critically evaluate my work and deliver a better project.
As the course was focused on peer feedback and peer rating, all our contributions were evaluated by peers, and the course reminded me of the television show Dragon’s Den.
I found this course very challenging. One of my challenges was to keep up with the posts. I learned how to use tags, and it seemed to help in finding the threads I was interested in and organizing my own material for future reference.
Another challenge was the business terminology I had to learn to be able to participate in the course. It is great to be able now to understand how to determine if an educational technology venture is financially worthwhile. I believe this knowledge will help me to stand out in the job market as I can help a company to decide if implementing educational technology will be financially worthwhile.
In this course, we had to take a role of an Educational Venture Analyst (EVA) - someone who analyzes a venture to see if it is viable. We used various assessment strategies to analyze ventures and predict which of them are likely to succeed and which are not. Through the CUBE analysis, venture analysis, elevator pitch and overall evaluation of technology analysis using the Bates and Poole Sections Model (2003), I learned to think critically about the cost and effectiveness of educational ventures. These tasks helped us to prepare for creating our own venture and analyze its viability with a critical eye. I have also learned how to critically evaluate my work and deliver a better project.
As the course was focused on peer feedback and peer rating, all our contributions were evaluated by peers, and the course reminded me of the television show Dragon’s Den.
Artifacts
Artifact 1: YouSeeU Analyst Report
For this assignment, I have chosen to analyze YouSeeU, a tool that I, as an instructional designer, use for designing various video-based activities for courses in Nursing and Counselling programs at Bradley University. A common question the faculty I work with ask me is “How can I make my online class as interactive as my face-to-face class?” Some of them are frustrated that their students do not have experience comparable to their on ground students. They share that it is difficult to conduct oral communication assessment online as well as provide feedback in the moment of their students' presentation. They complain that they cannot connect with students and their experience is lacking. YouSeeU seems to solve many of these problems in online environment.
My other academic partners are considering adding YouSeeU to their programs. I designed this ‘opportunity audit’ to provide critical review of YouSeeU and support their investment decision.
The process of creating this report has given me tremendous insight into the EVA role and prepared me for my opportunity pitch. I realized that it is important to consider multiple resources of information, formal and informal. It is especially useful to interview/survey those who have been using the product or might be interested in using it and get their perspective. While preparing my opportunity forecast, I presented my venture idea to a few colleagues to get their feedback on my idea. In addition, the Cube Framework and SWOT analysis were useful in helping me organize all the information into meaningful points of consideration. I considered all the parts of the Framework while preparing my opportunity pitch.
My other academic partners are considering adding YouSeeU to their programs. I designed this ‘opportunity audit’ to provide critical review of YouSeeU and support their investment decision.
The process of creating this report has given me tremendous insight into the EVA role and prepared me for my opportunity pitch. I realized that it is important to consider multiple resources of information, formal and informal. It is especially useful to interview/survey those who have been using the product or might be interested in using it and get their perspective. While preparing my opportunity forecast, I presented my venture idea to a few colleagues to get their feedback on my idea. In addition, the Cube Framework and SWOT analysis were useful in helping me organize all the information into meaningful points of consideration. I considered all the parts of the Framework while preparing my opportunity pitch.
Artifact 2: Elevator Pitch and Venture Pitch for Schulich Startup Online Community
For this assignment I acted as a mock Director of Learning Innovation and Design of Schulich School of Business, Toronto, Canada.
I presented a new initiative, Schulich Startup Online Community, that I hope will change the way students learn business. The community mission is: Start your company during school!
I presented a new initiative, Schulich Startup Online Community, that I hope will change the way students learn business. The community mission is: Start your company during school!
- Venture Pitch and Reflection
I found writing this pitch very exciting as I strongly believe in the idea presented.
At the same time I found it challenging as my business knowledge is limited and it was really difficult to decide which idea to present on. My ideas are usually a mashup of what I have seen, heard, read about, discussed and worked on. I wish I could have created something really unique.
For this assignment, I have chosen what I would find most useful if I was a business student (however, students of any discipline would benefit from the initiative). I ran the idea by my family members and some colleagues, who liked it, and I decided to role-play how I would change the existing entrepreneurship club if I was in charge. I also reached out to Schulich existing groups and discussed the learning experience of my son, current Schulich business student.
I feel that some parts of my venture pitch (ex: problem, solution, vision and value proposition, product, differentiation and competition) are stronger than others (ex. the Ask and Financial Projections) as I lack some business knowledge.
For my elevator pitch I used an effective tool - video. Still, I could have improved it by using a video of myself in combination with some images and slides instead of just my image there. This would help me to create a better connection with prospective investors. I tried recording a video a few times using my cell phone and laptop, however, the attempts looked far from professional. I find that I have more experience with screencasts. I need to set up a small video studio with proper lights for recording myself on camera.
For the venture pitch I have chosen a Word document and PDF format as I think it is easier for prospective investors (as well as University administration) to get into details when they can skim the doc instead of watching a video repeatedly searching for a specific place. This could be my subjective opinion. However, ideally, I would love to have had both formats for the venture pitch: a video and a file. This would allow me to reach out to potential investors and offer them whichever format they prefer. I spent so much time on the marketing and financial parts of the pitch that I left little time for myself on video creation.
My instructor, Dr. David Vogt, thinks my elevator pitch is well-crafted. The video and narration are confident and unadorned; the basic idea of the venture shines through. David also shared a concern. He said that my role as "Director" doesn't give me sufficient gravitas for an investor community - they want to connect with the person who will lose their job, reputation and life savings if the venture won't succeed. I would have to be at least the Dean, if not the President, to make this pitch.
David thinks that my venture pitch is also very professional and effective. The document format works well to contain and direct my argument. It is well-designed. I have demonstrated a good mastery of the basic concepts of the course. His only real concern is market differentiation - every university in North America is striving to do exactly the same thing, so even if, and especially since, Schulich has a great brand it needs to do something different and exceptional here, and he does not see that yet in my writing. It isn't that the numbers are wrong, it is that the credibility of the university in these areas is low, so there needs to be some tangible 'skin in the game' before any serious investor will get involved.
I found writing this pitch very exciting as I strongly believe in the idea presented.
At the same time I found it challenging as my business knowledge is limited and it was really difficult to decide which idea to present on. My ideas are usually a mashup of what I have seen, heard, read about, discussed and worked on. I wish I could have created something really unique.
For this assignment, I have chosen what I would find most useful if I was a business student (however, students of any discipline would benefit from the initiative). I ran the idea by my family members and some colleagues, who liked it, and I decided to role-play how I would change the existing entrepreneurship club if I was in charge. I also reached out to Schulich existing groups and discussed the learning experience of my son, current Schulich business student.
I feel that some parts of my venture pitch (ex: problem, solution, vision and value proposition, product, differentiation and competition) are stronger than others (ex. the Ask and Financial Projections) as I lack some business knowledge.
For my elevator pitch I used an effective tool - video. Still, I could have improved it by using a video of myself in combination with some images and slides instead of just my image there. This would help me to create a better connection with prospective investors. I tried recording a video a few times using my cell phone and laptop, however, the attempts looked far from professional. I find that I have more experience with screencasts. I need to set up a small video studio with proper lights for recording myself on camera.
For the venture pitch I have chosen a Word document and PDF format as I think it is easier for prospective investors (as well as University administration) to get into details when they can skim the doc instead of watching a video repeatedly searching for a specific place. This could be my subjective opinion. However, ideally, I would love to have had both formats for the venture pitch: a video and a file. This would allow me to reach out to potential investors and offer them whichever format they prefer. I spent so much time on the marketing and financial parts of the pitch that I left little time for myself on video creation.
My instructor, Dr. David Vogt, thinks my elevator pitch is well-crafted. The video and narration are confident and unadorned; the basic idea of the venture shines through. David also shared a concern. He said that my role as "Director" doesn't give me sufficient gravitas for an investor community - they want to connect with the person who will lose their job, reputation and life savings if the venture won't succeed. I would have to be at least the Dean, if not the President, to make this pitch.
David thinks that my venture pitch is also very professional and effective. The document format works well to contain and direct my argument. It is well-designed. I have demonstrated a good mastery of the basic concepts of the course. His only real concern is market differentiation - every university in North America is striving to do exactly the same thing, so even if, and especially since, Schulich has a great brand it needs to do something different and exceptional here, and he does not see that yet in my writing. It isn't that the numbers are wrong, it is that the credibility of the university in these areas is low, so there needs to be some tangible 'skin in the game' before any serious investor will get involved.