Business Model - Assignment

A STUDY ON FORMING WORLD
UNIVERSITY

EXECUTIVE SUMMARY
The concept related to online teaching has been recognised as a popular concept. Students
looking for specialisation in different subjects from around the world get a chance to connect
with the institutes, trainers and lecturers residing in different Nations and thus get an
opportunity to attain a degree from colleges and universities in different Nations without
actually travelling there. This report is concentrated on the idea of online education which
would be imparted under the logo of World University. We shall be discussing different
decisions taken by management and also the scope of business and significance of idea. The
report will also cover the needs and requirements to operate this university. Based on our
analysis we shall be concluding the applicability of the idea and also its acceptance at the
work place.

TABLE OF CONTENTS
Executive Summary...................................................................................................................2
Introduction................................................................................................................................4
Notion Of World University......................................................................................................4
Decision Taken By Senior Management....................................................................................4
Business Model For Selected Venture.......................................................................................6
Needs And Requirements Of Business......................................................................................8
Uses Of Social Media...............................................................................................................10
Significance And Contribution Of Study.................................................................................10
Conclusion................................................................................................................................10
References................................................................................................................................12

INTRODUCTION
Online Learning courses include different kinds of courses that may be offered by institutes
and individuals on virtual platform. One of the major forms of online learning that had been
existing in the market ever since 1990s is in form of Distance Education which is imparted
using internet. Under the following concept the World University will bring universities and
colleges from around the world to join the name and impart education using its platform.
They will be providing students with diplomas and degrees which shall be affiliated with the
colleges from different Nations.
NOTION OF WORLD UNIVERSITY
This concept is a step to bring number of private universities from around there world under a
single umbrella which shall be named World University. The university will work online and
the exams, lectures and study material would be provided online as well. Numerous
universities will provide different courses using the platform and the students from different
nations will be given options to choose these courses at any point of time and sign up to be
the part of the courses being offered by university in regards to diploma, graduation or simply
certification. This way student will not be required to travel around the world leaving their
homes to pursue education in the colleges of their choice (Mahassen, 2015).
DECISION TAKEN BY SENIOR MANAGEMENT
Understanding the concept of World University the Management as decided to take following
decisions which are meant to support and help students to understand and adopt the concept
in a better manner. Also management as tried to ensure students from different nations are
able to get access to different courses which are being offered by them and the modes of
payments are flexible to make the processing easier:
Student together loyalty scheme:
This scheme allows the students to win rewards by referring other students for the courses
which are being made available by World University. These rewards will be sanctioned once
the student has been registered and will be based on the type of course that he opt for with the
University. This step is to encourage the students to introduce new people to the concept and

thus support marketing of the concept and bring in maximum registrations. Also it is one of
the simplest ways to advertise the concept (Myslivec, 2016).
Captivating help of mediator
The management and university will reach out the agents to take their help in getting
employers and also to promote the idea. This step will help them to make sure that students
get jobs quickly after they have completed the course with the university (Rolain, 2018).
Application of Payments
For ensuring easy modes of payments and for making sure that people do not have to go
through a hassled process to get registered for any course with the University, the
management has made sure that all the applications will be processed within 5 minutes and
also that they would be taking the payments using credit cards and PayPal, though the
payments shall remain non-refundable (Turner, 2015).
E-Books and Laptops
Students will be given E-Books which shall cover all the requirements of the course and also
students will be provided with configured laptops which shall have pre-installed software
required to access the course that they have applied for. These laptops and books will be
delivered to the students on the address that they have registered with the University. It would
be ensured that payment and acceptance of books and laptops remain compulsory for each
student.
Daily Assignments:
The students will be given assignments and test on regular basis to make sure that their
learning is on the right path. This will also help them enhance their grounds of study and
figure their weaknesses.
Personal Attention:
Like the regular classes students will be allowed to ask for personal session with the teachers
and lecturers for the courses they are registered to and these sessions will be booked free of
cost for the students to enhance their scope of study (Štefan, 2014 ).

BUSINESS MODEL FOR SELECTED VENTURE
The business model has been defined to be a means of describing a framework for any
business that helps in understanding the major resources and strategies which are required by
the business to function well. These models can be specified as picturing of the processes of
the business.
Parameters Need
Key Partners These are the people who finance, sponsor or
invest in the idea of the business. In the case
of World University major partners shall
include private universities, employers and
financing companies from around the world
offering their services on the portal.
Key Activities These are the major activities of the business
which are targeted to help the business reach
the objective that is predefined and also fulfil
its term goals. In our case the key activities
of the business includes getting the
universities to join the concept, seeking the
help of the agents in order to get employers
and finally registering the students to courses
and using the references for more
registrations.
Key Resources These are termed as the major resources with
the business which is the reasons behind their
successful operations. These resources can be
in financial or non-financial forms. In our
case key resources which will be used to
promote the growth of business includes
employers, private universities, investments

companies and sponsors and agents.
Value Prepositions It is termed as the offer which is made by the
business to its target audience. These
prepositions are expected to different and
unique as compared to the competitors in
market so that they can help the business
achieve the targets and competitive
advantages. In our case variety of courses,
job options, laptops, e-books and simple
registration and payment process are the
prepositions to gain the students for
registration with the University.
Cliental Relationship The strategies in above terms helps in
depicting the techniques that can be or will
be used by the system to build better
relationship with clients and this may be
inclusive of features like promotions,
discounts and loyalty. In our case the
university has decided to provide referral
benefit to the students who bring new
registrations for the courses with World
University. This will not only ensure more
registrations but will also keep the student
loyal towards the brand.
Channels These are numerous forms of media which
are considered to be the part of supply chain
and also the means through which the
business will sell the services to the market.
In our case business shall be promoting the

concept using online promotions and
advertisements, web promotions, agents,
referral benefits and also use mouth to mouth
publicity.
Customer Segments It is termed as the part of the market which
the business has under the target for selling
the services. This e-education business shall
be targeting students from around the world
who may belong to any field or be of any age
group. But the major audience will be the
students who do not want to or are not
capable or travelling to different parts to
attain education and still have a desire to
have a degree from the college of their
dreams.
Cost Structure It consists of all the business areas that will
require investments and spending which in
our case includes major investments in
advertisements, marketing, distribution etc.
Revenue Stream These have been defined as the areas from
which the business earns the cash flow and
thus this area is responsible for the operation
and revenue for the business. In our case fees
from students is the major means of revenue
for the business.
NEEDS AND REQUIREMENTS OF BUSINESS

There are various needs to be fulfilled before the business gets started. They had been listed
as under:
Registration:
The first step to initiate the business to getting it registered. All the formalities in terms of
business modelling should be generated and fulfilled before registration is processed or is put
to action (CHATTERTON, 2000).
Getting the knowledge of the target Audience:
It is necessary for the business to understand and know its target audience. This helps the
management in designing a business model based on their needs and requirements. It is also
required to have a proper idea in regards to the market in which the business will function so
that the management can plan the strategies to run the business and also execute business
plan successfully (Alom, Abdullah, Moten, & Azam, 2016)
Indentifying the requirements of Software:
While planning to start the business in the e-learning industry it is really important to
understand the software on which the business may operate. Also it is required to understand
the most flexible platform which can promote the business concept and support the
environment. Also it is necessary to ensure that the platform remains user friendly and
contains all the major features which can aid e-learning process (Hare, 1981).
Website:
Website should be developed as per the needs of the business. The domain for the website
should be acquired and a development team is required to be appointed to manage the
development of the website and maintain it in future. The website shall be configured to
contain all major courses and modes of payments and also the list of universities which have
opted for World University (Nguyen, 2015).
Training Requirements:
Based on the analysis of the market the training needs and requirements should be identified
which will help in planning the courses that shall be offered on the website. This also
supports the choice of university to make sure that the business is able to reach all its target
audience.

Getting the registration of University:
It is necessary to make sure that all major universities from around the world accept the offer
from World University and dedicated their staff to work with the concept. Also it is necessary
to make sure that each course is in complete demand in the market and they do lead to
business failure (Cavusgil, 2015).
USES OF SOCIAL MEDIA
Social media platform is one of the most important platforms which shall be considered by
business for promoting its services. It will help the business explore its potential and also gain
the knowledge about the responses from its target audience. The social media will also
provide the ground to the business to promote its services before it actually launches itself in
the market (Inc, 2007).
It is necessary for the University to stay active on all social media platform to make sure it
reaches the maximum audience and gain exceptional results in financial and social terms.
SIGNIFICANCE AND CONTRIBUTION OF STUDY
By the help of the report we have been able to understand the scope and potential of the
business in field of e-learning. It also helped us to analyze the market for our services and
thus plan the business activities accordingly. The report also generated an idea on the
business model which is best suited for the field of business considered by us. Based on that
study we had been able to study about the major requirements of the business which are
required to be fulfilled to put the business to action and help it achieve the goals and
objectives (Krems, 2015).
The report has been a systematic overview in regards to the ways in which business should
function and the ways in which each activity should be initiated or executed. It has been a
proper brainstorming session for us and gave us a practical experience on how to plan a
business model and define business strategies to ensure the success of the business in the
particular field (Parikh, 2010).
CONCLUSION

By the end we can conclude that concept of e-learning or university is a successful one.
People from different parts of the world who cannot reach their desired state for education
can join the portal and gain education form their desired universities without actually
travelling to those cities. Also universities get broader area to connect with the students and
offer their courses and services worldwide. The concept is totally based on internet and also
uses electronic media to function which has opened wider gate to the market and also ensured
better education opportunities.
Also, as this portal has all major courses that any university can offer students have an option
of reaching out to the portal to pursue any course of their dream. As employment
opportunities are also offered students have better perspective of future and can have an
ensured career while they opt for a course with World University. Thus, the concept is
complete and successful in all varied sense and there are less chances that it may fail.

REFERENCES
Alom, F., Abdullah, M. A., Moten, A. R. & Azam, S. M. F., 2016. Success factors of overall
improvement of microenterprises in Malaysia: an empirical study. Journal of Global
Entrepreneurship Research.
Cavusgil, S. T., 2015. International Business, Michigan: Michigan State University.
CHATTERTON, P., 2000. The Response of Higher Education Institutions to Regional
Needs. European Journal of Education, 35(4), pp. 1-22.
Hare, V. C., 1981. READERS' PROBLEM IDENTIFICATION AND PROBLEM SOLVING
STRATEGIES FOR HIGH- AND LOW-KNOWLEDGE ARTICLES. Journal of Reading
Behavior Volume XIII, No. 4.
Inc, I., 2007. Bahrain Business Law Handbook Volume 1 Strategic Information and Basic
Laws. s.l.:Int'l Business Publications.
Krems, J. A., 2015. Something to talk about: are conversation sizes constrained by mental
modeling abilities?. Human Behaviour Journal, 1(8), pp. 423-428.
Mahassen, N., 2015. A quantitative approach to world university rankings, s.l.: Center for
World University Rankings.
Myslivec, L., 2016. The role of student satisfaction and student loyalty on intention to return
to the specific university: A comparative study of UK and Czech Republic university, s.l.:
Czech Republic university.
Nguyen, T., 2015. The Effectiveness of Online Learning:Beyond No Significant Difference
and Future Horizons. Journal of Online Learning and Teaching Vol. 11, No. 2, pp. 1-11.
Parikh, 2010. Significannce of a research report. s.l.:Tata McGraw-Hill Education.
Rolain, J., 2018. International Society of Antimicrobial. International Journal of
Antimicrobial Agents, 5(8), pp. 1-10.
Štefan, S., 2014 . Analysis of Business Models. Journal of Competitiveness 4, pp. 19-40,
December 2014, pp. 19-40.

Turner, S. J., 2015. Success Factors of Small Business Owners, Minneapolis: Walden
Dissertations and Doctoral Studies.