LE 02 KHAN ACADEMY

 MANAGEMENT LESSONS FROM KHAN ACADEMY:

The Khan Academy has transformed today’s educational world. It is a non profit educational organization, founded by Salman Khan in 2006. Salman Khan is a graduate of MIT and Harvard Business School. Slogan of Khan Academy is ‘it is our endeavour to accelerate learning for students of all ages’.

SALMAN KHAN

Mission:  The mission of Khan Academy is "providing a high quality education to anyone, anywhere". It has a goal of changing of the education system for the better.

Innovation: Khan Academy has a very innovative way to educate people all around the world. The website (http://www.khanacademy.org) supplies a free online collection of more than 3,200 micro lectures via video tutorials stored on YouTube. The Khan Academy's materials and resources are available to everybody completely free of charge.

A global classroom: Students can join millions of Khan Academy students from all over the world who learn at their own pace every single day.

Business Model:

Unique Features: Students can make use of the extensive video library, interactive challenges, and assessments from any computer with access to the web. Coaches, parents, and teachers have unprecedented visibility into what their students are learning and doing on the Khan Academy. The library of videos cover mathematics, history, healthcare and medicine, finance, physics chemistry, biology, astronomy, economics, cosmology, organic chemistry, art history, computer science. Each video is a digestible chunk, approximately 10 minutes long, and especially purposed for viewing on the computer. These videos are licensed under a Creative Commons Attribution-Non-commercial-Share Alike 3.0 License.

Feedback and Appreciation: The Khan Academy remembers what students have learned and where they are spending time. They keep all of this data private but expose powerful statistics to each user and their coaches. Users get at-a-glance information about everything they have been learning and whether or not they have been hitting their goals.    Appreciation is given on the basis of performance of students in the form of badges. Some of the smaller badges are very easy to earn, but the higher badges might require years of work.

Theory Y: Khan Academy believes in Theory Y. They believe that every student irrespective of his/her country, race, economic background is capable of learning if provided with ample learning opportunities.

Future Plans: In November 2011 Khan Academy received a grant of $5 million from Ireland-based The O'Sullivan Foundation .The Fund is being be utilized in expanding the teacher & faculty base, Extending content through crowd-sourced contributions. A series of summer school camps are planned to start in Northern California to test curricula for real-world schools.

The reason for the success of Khan Academy is the innovative way of educating the world. It was the first of its kind organisation to start this. So it had very few competitors. It simplified the way subjects are taught with the help of videos and made learning a fun. It brought various streams of education under its umbrella which helped it immensely in increasing its customer base. Also the study material was accessible to anybody and everybody in the world so it had no regional boundaries and the organisation grew by leaps and bounds. The simple and innovative business model with tremendous expansion capability helped Khan Academy to be successful organisation in todays competitive world.