The Flat World Knowledge instance survey discusses how the traditional text edition publication theoretical account is altering because of riotous progresss in engineering that have basically created the digital publication market. Although I believe that Flat World Knowledge will be recognized as a successful subscriber to the break in the text edition printing market in five years’ clip. I view on-line acquisition – accented by the development of digital text editions – as the riotous force that has changed the theoretical account for the instruction industry. In many ways. online acquisition ( or e-learning ) has created new experiences for learning and larning. which besides includes a new format of printing through digital text editions. eBooks. and digital media. E-learning has consistently created a new sense of healthy competition among larning establishments. text edition makers. and the broader instruction industry to supply advanced ways of presenting cognition. This competition. along with the surging monetary values of inflexible text editions. later shaped the thought behind Flat World Knowledge. Flat World Knowledge ( “FWK” ) has embraced a freemium concern theoretical account ( Piccoli 166 ) as a manner to offer a solution to better service pupils. writers. and pedagogues in the traditional text edition market.
FWK aims to supply its pupils with free online text editions and its writers and pedagogues with the ability to command text edition content. while bring forthing grosss from clients on accessory fee-based services such as low-priced print and nomadic device versions. To get down this analysis. it is of import to look at the strengths. failings. chances and menaces presently confronting FWK. The SWOT analysis demonstrates that FWK is good positioned to capture the increased demand for free and unfastened college text editions available online as the digital publication market has evolved. FWK has efficaciously expanded its catalog of book rubrics to suit pupils in assorted topics. while besides pulling new writers. pedagogues. and higher instruction systems. Although these strengths and chances have created a new and riotous concern theoretical account with some sustainability. FWK does confront important headwinds. SWOT Analysis of Flat World Knowledge
Strengths * “The First and Largest Publisher of Free and Open Textbooks” ( World Wide Web. flatworldknowledge. com ) * Strong initial acceptance: 12 published books earned 480 college acceptances. with 40. 000 pupils utilizing FWK ; by the terminal of 2011 FWK was adopted by 2000 establishments and 300. 000 pupils * Adoption from bookshops in front of outlooks in 2009. & gt ; 60 % of FWK grosss derived from minutess in bookshops * Educators have complete control over text edition content ( due to the unfastened beginning theoretical account ) * Strategic Financing in topographic point – FWK has completed 3 unit of ammunitions of venture financing numbering $ 25MM+ * At a clip when the higher instruction industry is encompassing engineering and invention. following a digital text edition ( like the FWK offerings ) aligns with the current scheme * Average nest eggs for usage of open-licensed text editions: 80 % or more | Opportunities * Future growing – As of the terminal of 2010. had an established grapevine of 50 new book rubrics. and 100 new writer contracts * Deriving grip among big higher instruction systems ( like University of Minnesota. University System of Ohio. Virginia State University. Indiana University. MIT )
* Reaching beyond economic sciences and concern topics and developing text editions for topics like English. mathematics. public talking * Premium services. particularly publishing and FLYX survey tools. are paid addendum options that expand the merchandise portfolio and gross chances * Expansion by supplying content on nomadic devices| Weaknesses * Barriers to entry are really low. big tech and publication companies could easy use a “me too” scheme * FWK’s scheme fundamentally shrinks the entire market gross potency by leting pupils an option to buying a text edition * Students must ever hold on-line handiness * Writers are non needfully vetted in the most effectual manner ; FWK relies on current module members who have non yet authored a text edition * It can be really hard to do money if you are giving off your merchandise ( Anderson ) |
Menaces * Chegg. Amazon and other companies focused on reselling used books will buttonhole against the freemium theoretical account and go on to vie on monetary value and handiness * Large engineering and publication companies have more fiscal resources at their disposal to deploy their schemes * Apple: iBooks Author and iTunes U applications allow anyone to print and administer digital text editions ; Apple besides joined with Houghton Mifflin Harcourt. McGraw-Hill and Pearson to establish digital text edition rubrics priced under $ 14. 99 and aimed at the K-12 market – this could easy be copied into the higher instruction market * Khan Academy and other universities like MIT and Harvard are offering categories and content for free * The incursion of e-learning could travel the educational procedure to a digital schoolroom and extinguish the demand for all textbooks|
First. it is of import to observe that FWK has developed a concern scheme that is easy replicable by a larger company. The barriers to entry in this industry are reasonably low. particularly sing that the competition – publication and engineering companies with a niche in instruction – are good resourced and have bing relationships with reputable writers and universities. If FWK’s grapevine of new writers begins to halt turning. or if FWK is unable to perforate higher instruction establishments. these printing companies ( viz. Pearson. Houghton Mifflin Harcourt. McGraw-Hill and Cengage ) could try to subscribe sole trades with writers to forestall them from seting their content on FWK. Second. FWK faces a important challenge to bring forth grosss as the company is giving off it’s merchandise for free. Although this may be viewed as FWK’s biggest competitory advantage. it is besides its biggest failing. In the hereafter. pupils utilizing FWK’s free online text editions may choose to non buy the auxiliary offerings. but instead portion bing stuffs with one another or utilize free addendums from the pedagogue and non FWK. Finally. FWK faces a important menace from a major participant: Apple.
Following the January 2012 proclamation by Apple that it launched a new iBooks 2 package for iPad. the iBooks Author publication platform. and the iTunes U application. Apple basically confirmed that it will vie in the digital publication market ( hypertext transfer protocol: //www. apple. com/pr/library/2012/01/19Apple-Reinvents-Textbooks-with-iBooks-2-for-iPad. hypertext markup language ) . These Apple applications allow pedagogues and pupils the ability to print and administer digital text editions. to learn and take full classs. and to hold entree to the largest catalog of free educational content. Apple besides joined with Houghton Mifflin Harcourt. McGraw-Hill and Pearson to establish digital text edition rubrics priced under $ 14. 99 and aimed at the K-12 market. Although the current focal point for iBooks ab initio refrains from the higher instruction market. Apple’s new theoretical account could easy be copied and used by pedagogues. publishing houses. and pupils in the university puting. As was antecedently discussed. FWK’s scheme to bring forth gross growing faces important challenges given that the company is offering its nucleus merchandise – online text editions – for free.