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A Case Study of Financial Consideration of eLearning at Assumption University

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  1. 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 charm@ksc.au.edu Keynote Address International Conference on eBusiness 2008 (INCEB 2008) Grand Mercure Fortune Bangkok Hotel November 6-7, 2008

  2. A Case Study of Financial Consideration of eLearning at Assumption University. • Introduction. • The College of Internet Distance Education of Assumption University. • Financial Consideration of M.Sc. in Management Program. • Financial Consideration of M.Sc. In ICT Program. • Financial Considerationof Ph.D. in eLearning Methodology Program. • Financial Consideration of Certificate Program. • Financial Consideration of Chorus Program. • Concluding Remarks. 2

  3. 1. Introduction. • The term “eLearning” may be defined as learning thru electronic means and the electronic means of choice is the Internet. 3

  4. Introduction (Cont.) • According to Sloan Consortium, the term “eLearning” should be used only when the Internet is employed 80-100% of all learning activities. 4

  5. Introduction (Cont.) • As of the year 2008, about 96% of large US academic institutions (with at least 15,000 students) are offering eLearning. 5

  6. 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

  7. 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

  8. Introduction (Cont.) • It may be said that there are three levels of eLearning- University level.- K12 level.- Corporate level. 8

  9. 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

  10. Introduction (Cont.) • Corporate level includes training programs at business organizations as well as governmentand semi-government organizations. 10

  11. 2. The College of Internet Distance Education of Assumption University. • 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. 11

  12. CIDE of AU (Cont.) • Prof. Srisakdi Charmonmanalso wrote the first draft of the decree to legalize eLearning in Thailand which was later published in the Royal Gazette in October 2005. 12

  13. CIDE of AU (Cont.) • 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. 13

  14. CIDE of AU (Cont.) - Chief Operating Officer (COO)similar to the Vice President for Administration. - Chief Academic Officer (CAO) similar to the Vice President for Academic Affairs 14

  15. CIDE of AU (Cont.) • 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. 15

  16. Srisakdi CharmonmanIT Center. 16

  17. CIDE of AU (Cont.) • 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. 17

  18. CIDE of AU (Cont.) • 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. 18

  19. CIDE of AU (Cont.) - 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. 19

  20. CIDE of AU (Cont.) - 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. 20

  21. CIDE of AU (Cont.) - 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. 21

  22. 3. Financial Consideration of M.Sc. in Management Program. • There have been over 300 students in the Master of Science in Management Program. • The program requires 36 credits or 12 courses. 22

  23. M.Sc. in Management (Cont.) There are 5 majors: 1 Small Medium Enterprises Management. • Human Resource Management. • Technology Management. • Strategic Marketing Management. • Business Management. 23

  24. M.Sc. in Management (Cont.) 6 Core Courses 24

  25. M.Sc. in Management (Cont.) Small Medium Enterprises Elective Courses 25

  26. M.Sc. in Management (Cont.) Human Resource Management Elective Courses 26

  27. M.Sc. in Management (Cont.) Technology Management Elective Courses 27

  28. M.Sc. in Management (Cont.) Strategic Marketing Management Elective Courses 28

  29. M.Sc. in Management (Cont.) Business Management Elective Courses 29

  30. M.Sc. (Management) Financial • 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

  31. M.Sc. (Management) Financial Consideration I (Cont.) • 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

  32. 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

  33. 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 baht 33

  34. 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

  35. 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

  36. 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

  37. M.Sc. (Management) Financial • 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 bah t 37

  38. M.Sc. (Management) Financial Consideration II (Cont.) 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

  39. 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

  40. 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 baht 40

  41. 4. Financial Consideration of M.Sc. in ICT Program. • 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. 41

  42. M.Sc. in ICT Program(Cont.) The 3 Core Courses 42

  43. M.Sc. in ICT Program(Cont.) • 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. 43

  44. M.Sc. in ICT Program(Cont.) Information Technology Required Courses 44

  45. M.Sc. in ICT Program(Cont.) Computer Communications and Network Required Courses 45

  46. M.Sc. in ICT Program(Cont.) Computer Graphics and Animation Required Courses 46

  47. M.Sc. in ICT Program(Cont.) Technology Management Required Courses 47

  48. M.Sc. in ICT Program(Cont.) • 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. 48

  49. M.Sc. in ICT Program(Cont.) • 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 49

  50. M.Sc. in ICT Program(Cont.) 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 50