It can be very difficult to make money if you are giving away your product (Anderson) | Threats * Chegg, Amazon and other companies focused on reselling used books will lobby against the freemium model and continue to compete on price and accessibility. The Flat World Knowledge case study discusses how the traditional textbook publishing model is changing because of disruptive advances in technology that have essentially created the digital publishing market. Although I believe that Flat World Knowledge will be recognized as a successful contributor to the disruption in the textbook publishing market in five years’ time, I view online learning – accented by the evolution of digital textbooks – as the disruptive force that has changed the model for the education industry. In many ways, online learning (or e-learning) has created new experiences for teaching and learning, which also includes a new format of publishing through digital textbooks, eBooks, and digital media. Penn State Nittany Lions E-learning has it on mobile devices | Weaknesses * Barriers to entry are very low, large tech and publishing companies could easily employ a “me too” strategy * FWK’s strategy basically shrinks the total market revenue potential by allowing students an alternative to purchasing a textbook * Students must always have online accessibility * Authors are not necessarily vetted in the most effective way; FWK relies on current faculty members who have not yet authored a textbook *
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Large technology and publishing companies have more financial resources at their disposal to deploy their strategies * Apple: iBooks Author and iTunes U applications allow anyone to publish and distribute digital textbooks; Apple also joined with Houghton Mifflin Harcourt, McGraw-Hill and Pearson to launch digital textbook titles priced under $14.99 and aimed at the K-12 market – this could easily be copied into the higher education market * Penn State Nittany Lions Khan Academy and other universities like MIT and Harvard are offering classes and content for free * The penetration of e-learning could move the educational process to a digital classroom and eliminate the requirement for all textbooks First, it is important to note that FWK has developed a “That which is accepted as knowledge today is sometimes discarded tomorrow.” Consider knowledge issues raised by this statement in two areas of knowledge. This statement above basically says that information known as knowledge which is recognized same by everyone today will change tomorrow because it is changed.
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By breaking down and defining the important words like; “knowledge”, “sometimes”, “accepted” and “discarded”, will help understand the statement more clearly. “Knowledge” is defined as “facts, information, and skills acquired by a person through experience or education; the theoretical or practical understanding of a subject (merriam, 2014).” This means that in order to have the information and have common knowledge for all man Penn State Nittany Lions The statement “That which is accepted as knowledge today is sometimes discarded tomorrow”, refers to these developments made throughout human history. A theory or an assumption being accepted as knowledge remains this way until challenged by a new theory contradicting what was initially stated, or having been logically tested, resulting in the idea being disproved. However over time there haven’t only been advancements in technology and understanding, humanity have also experienced a decrease in knowledge/understanding of the world when confronted by crisis/the belief in an idea that is not supported by fact.