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HBX Business Blog

The Impact of Learning Online at Scale

Posted by Anne Bosman on March 31, 2015 at 2:11 PM

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As a Product Manager for HBX, I have the good fortune to work with Clayton Christensen, an expert on strategy, innovation, and growth. 

Professor Christensen’s MBA course Building and Sustaining a Successful Enterprise is the most popular elective at Harvard Business School and is based on his book The Innovator’s Solution, the sequel to the enormously impactful The Innovator’s Dilemma.

Having written more than nine books on disruption and innovation, Clay has also founded a nonprofit institute, a consulting firm, and a boutique investment firm – all focused on disseminating his research and ideas on innovation.  With such a large global presence, one would think that Clay Christensen wouldn’t need any more help scaling his ideas. 

However, last year, the team at HBX worked diligently with Clay to produce and launch the first ever HBX Course: Disruptive Strategy with Clayton Christensen.  We recently caught up with Clay and asked why he chose to put his content online, even after seeing success with his other initiatives.  The answer was two-fold and (not surprisingly) mirrors Clay’s very own theories.

Creating maximum exposure

According to Clay, online learning can scale in a way that no other type of learning can. Harvard Business School is a selective and expensive graduate program that only benefits 900 students per year; and even then there are enough seats in Clay’s course for only a third of them. 

As Clay explained, “I put [my content] on the HBX platform because if I don’t do that, then every year at maximum 900 people will be exposed to the theories…and many more people need to have access.”

By using the HBX platform as a digital thoroughfare, the theories of disruption, innovation, and successful strategic growth no longer need to be exclusive and can now help organizations that are both large incumbents in need of change, but also small and agile that may not be able to afford a consulting session. 

Reaching new audiences

By leveraging the reach of the internet, Clay’s theories can now be consumed by organizations in distant locales that don’t have access to conferences and speaking events. While Clay often travels, HBX Disruptive Strategy can travel to any place in the world that has electricity and an internet connection, thus opening up new markets for this high level educational content.

In fact, one of HBX’s most recent cohorts is a small nonprofit organization in Lagos, Nigeria called West Africa Vocational Education (or WAVE).  WAVE’s mission is to tackle youth unemployment in West Africa, and they believe that Clay’s theories will help them execute on their mission in a much more effective and sustainable way, making a much larger impact on their community.

Clay agrees: “Managers will be much more successfully innovative if they take this course. If they don’t take the course, either they have to try to be successfully innovative by trial and error, or listen to opinions of where the market is going.  But there is no data that can guide [them] as [they] look into the future. Having a theory to guide you gives a tremendous advantage.”

The power of collective learning

One might argue that with so many copies in print and the tremendous growth of online retailers like Amazon.com, Clay’s books would be able to reach many more people, and thus be the vehicle to scaling his theories.  However, a book cannot capture the power of collective learning, particularly when the theories are needed by a team that is aiming to execute on difficult strategic change. 

Clay is cognizant that when someone reads his book, they don’t always describe his theories in the best way. And then, like a game of telephone, the theories become distorted and lose their effectiveness as each person tells the next. 

As Clay puts it, “I thought of myself as writing to millions of people, but I have realized that’s the wrong way to frame things. Because what I write is consumed individually by individual people who have a book or an article…everybody else on the team didn’t learn that way of thinking about the problem. Your readers are your resellers of the ideas; [and through] the process of selling and reselling, the idea just loses its momentum.”         

Small group dynamics

Disruptive Strategy is designed with a strong, peer learning structure. Organizations are broken into teams who meet regularly to discuss what they have learned and how it applies to them and their unique strategic challenges.  By creating this small group dynamic, participants of the course are not only motivated to engage with their fullest attention, but they all have the same experience and by the end of the course speak the same language.

“The ideas are consumed by a group – and that’s when you come up with a new idea.  There’s a whole cadre of people who understand the same concepts, [have] the same language and together they can teach everyone else [with] much more fidelity…and a consistent lens.”      

We too believe that by utilizing our online platform and the technologies that are available to us, Clay’s timeless theories will have their maximum impact. We look forward to helping companies far and wide refine their strategies and implement innovative thinking.

Learn more about HBX Disruptive Strategy with Clay Christensen

Topics: Strategy and Innovation, Disruptive Strategy, HBX Courses

CORe Week 3: Applying the Concepts

Posted by HBX on March 26, 2015 at 4:43 PM

This week Conor, Michael, Dan, and Elizabeth share the ways in which they've already applied CORe concepts to their daily lives. 




As an ESL teacher, I encounter a wide variety of students and therefore a wide variety of student needs.  One area that has often been a challenge to teach is business English.

My students are typically adults who have vast real world experience in business-related fields. They completely understand concepts but lack the language skills to express them in English. It is sometimes difficult because although I can help them with their vocabulary, my limited knowledge on the subject minimizes just how much help I can provide.

Last week, one of my students, an accountant, came to me with questions directly related to her work.  I had just finished the second module of the financial accounting course.

I realized mid-lesson that because my understanding of the material has increased, I can better articulate how the material is expressed in the English language to a non-native speaker.   I walked out thinking that, had I not just been exposed to and engaged in these ideas, I would not have been as helpful to my student.



Learning these accounting concepts directly relates to my goal of starting my own business one day. This exact scenario was depicted in one of the videos: investing money in a new business, which starts with no assets, no liabilities, and no owners’ equity. That investment raises the company’s assets, as well as its equity, thus signifying the beginning of every company.

Fast forward to our current lesson, financial statements. The Balance Sheet is something my company works with on a daily basis. Currency risk comes to the surface for a breath of fresh air on every international company’s Balance Sheet. In fact, foreign exchange fluctuations can sometimes mean the difference between a company having a profitable and unprofitable quarter. When I was an undergraduate, without the context of real world business examples, I couldn’t see the connection.

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When companies transact in multiple currencies, they have risks in translation, transaction, and economic exposure. Previously, I was unable to decipher where companies recorded this exposure on the Balance Sheet.

After progressing through the module, I can now pinpoint where exactly companies show their currency exposure (usually under “other assets” and “other liabilities”). This will help tremendously going forward in quickly being able to comprehend and analyze a company’s foreign exchange picture, and will pay huge dividends in the future of my professional life, and my company.



Last week, I went to IKEA to buy some furniture. As I walked into the parking lot, I saw a huge billboard. The big poster advertised IKEA day-care, for free! I connected the dots between an actual case and the teaching material on "the strategies for assessing and increasing demand" delivered by Prof. Bharat Anand in Economics for Managers. IKEA, the multinational company that sells ready-to-assemble furniture worldwide, acts now as a babysitter! How come?

If you do a conjoint analysis, you would probably find out that there is a substantial customer segment - parents with small children - that values "peace of mind while shopping at IKEA".   For parents, having children going around these stores aisles might be dangerous as well as time- and energy-consuming. For young children, shopping with parents can be extremely annoying. Having a place for children just to have fun, and for free, is a perfect fit.

As you deconstruct the willingness to pay for IKEA products, there is this strange attribute, "peace of mind while shopping at IKEA", that appears. Conjoint analysis is an excellent tool to figure this out: by revealing the relative preference for different attributes, business developers at IKEA were able to isolate a relative important underlying request for customers and consequently, to formulate the right response for it: "free day-care."

In this real-life case, "day-care" as a service and "IKEA ready-to-assemble furniture" as products are wonderful complements. "Day-care" helps IKEA core business. I am confident that there are parents that used free childcare at IKEA and became customers. I am also quite sure that parents with "peace of mind while shopping at IKEA" are more willing to spend their money at IKEA.

Great way to increase demand.



 
A common question that I have been asked about CORe is, “Why are you doing this?”.  At first, I gave the initial reasons that I had applied to CORe: it will help me to perform better in my job, it is a good indicator if Business School might make sense, etc.; but what I have come to realise is that CORe offers much more than that.  

I have found that the teachings and concepts from CORe are slowly creeping into my daily lexicon and understanding of the world. If you now asked me why I was doing CORe, I would tell you it's because it is so cool to go into a shop or to buy a ticket for a show or to be sitting in a meeting and understand why the object is priced that way or why a company might be running that type of survey or A/B test, etc.  

Let me give you an example: The Rockettes.  My friends and I have organised a reunion in NYC for the first weekend of May (very excited), and the Rockettes are doing a special short run of their “Spring Spectacular”, clearly a winner.  

We clicked right through to the cheapest tickets we could find (Sunday at 5pm in the back of the room), and the ticket price was $50.  When we went through to check-out, suddenly the price was lifted to $64.05.  We redid the check out process to try and understand why the price had changed and found that there was a $14.05 “processing fee”.  

We were angry that Radio City would do this.  We talked about how deceptive it was and how unjust, etc., and then we bought the tickets… Radio City could add this processing fee (which is likely pure profit for them) because we were in the elastic part of the demand curve with regards to ticket pricing.  

The increase in the price of the tickets, whilst making us angry, did not actually affect whether we bought the tickets or not.  

Radio City’s assets would have immediately increased due to our payment at the time of the ticket purchasing. This translates into an increase in owners’ equity for Radio City (Financial Accounting module of CORe).  I could go on but I will spare you…

Was I annoyed that Radio City had used their CORe-like knowledge to make more money from me?  Sure. However, it was empowering to understand the logic behind what Radio City was doing and the likely steps that it had taken to get there.

Topics: HBX CORe, Student Bloggers

CORe Week 2: The HBX Learning Structure

Posted by HBX on March 19, 2015 at 10:00 PM

This week, Dan, Sam, and Chelsea share their take on the unique learning style of HBX CORe, the flow of course content on the platform, and the engagement of the CORe community.


I believe that the basic problem with online education is that of constantly capturing a student’s attention. Care is crucial if the learner is to become involved in the task he has set himself: learning.

Normally the student’s incentive and the attention he brings to the courses, which strike his 15-inch screen so monotonously in the form of not engaging videos, tend to decrease exponentially.

The form of the online education platform is, therefore, a vital factor in the transmission of the teaching material. Here, I must say that Harvard’s made-to-measure HBX method presses all the buttons of successful distance learning.

The courses themselves, alternating between carefully explained videos, interactive 

schemes, stressful cold calls, and other exercises are the good recipe for virtual teaching, which becomes real and attractive.

Each of the subjects – Financial Accounting, Economics for Managers, and Business Analytics – is taught purposefully, as the teaching method allows me to engage effortlessly. The concepts I am learning follow naturally from each other, based on the way the brain learns, making me constantly experiment with what I have just learned.

For example - a typical lesson flow:

  1.        We are shown a video describing a concept called “Willingness to Pay”,
  2.        are next asked to complete an exercise testing our knowledge,
  3.        then posed a difficult open-ended question,
  4.        finally, are shown another video explaining the correct way of thinking about the question.

This learning structure transverses the three different subjects (Financial Accounting, Economics for Managers, and Business Analytics). I, therefore, make natural connections between the statistical tools in Business Analytics and the conjoint analysis that in Economics for Managers.

I believe that as a participant in the HBX CORe, I am taking part in a revolutionary and extremely rewarding learning experiment.


 
My experience of the CORe platform has been influenced by my undergraduate college experience, and I find myself drawing comparisons between “live” and “virtual” classrooms.  My alma mater is a small liberal arts college governed by an honor code, which allowed the school to cultivate an intentionally respectful intellectual community. 

As a proponent of liberal arts education, I was dubious that CORe could replicate the seminar classroom experience.  I’m extremely impressed with how immersive CORe is, and I like the way that the platform manages to teach standardized material and be interactive. 

The cold calls, knowledge checks, and discussion sidebar help hold my attention, and it’s fascinating to see the way my peers respond to the material I’m covering.  The software is slick and seamless.  When I pose a question in the discussion forum I typically get an answer within minutes, and I learn a lot by seeing how my colleagues’ responses to cold calls differ from my own. 

The fact that I engage in this online program from my basement and can interact with live classmates is a revelation to me.

I’ve taken online text-only courses with knowledge checks interspersed, but what sets CORe apart are the brief videos embedded in the modules. The graphics on screen sync up with the concepts that the professors explain and typically alternate between explanations by professors, interviews with business managers, and graphics clarifying principles of economics or accounting.

The videos make it easier to understand concepts that had previously seemed abstract, like the relationship between a frequency distribution and a demand curve.  The program is strictly linear—it’s impossible to skip over sections at will—which has led me to revisit and gain new insight into subjects that I already felt comfortable with. 

After completing a knowledge check or cold call, the program displays responses from other cohort members, allowing me to see where our answers align and how other people came up with different responses to the same prompt.  The transitions between videos and sections are smooth, which gives a sense of fluidity to the material.  



Chelsea_PompadurChelsea Pompadur
So far, my CORe experience has been pretty great. I think the platform is fantastic. It’s much more interactive than I initially thought it was going to be, and I think it’s particularly good that we get to have interactions with our peers on it, through asking and responding to questions and commenting on other people’s cold call or shared reflection answers.

I was a bit concerned that I wouldn’t be able to add much input, but I’m finding it easier to interact virtually than I thought I would. The modules haven’t been too challenging thus far and generally move at a good pace and in a logical way.

For example, to understand Journal Entries in Accounting, we were taken through some basic examples before being given more complicated ones with prepayments and payments received in advance.

I like this step-by-step approach because it means that I don’t have to have any prior knowledge of the subject material. I’ve also found it easier to remember different things due to the use of case studies. They really make what we’re learning seem real and relevant.              

One of the best parts about the experience thus far has been the warm and encouraging nature of the CORe community.

I didn’t know if I would necessarily feel like I was part of a community by doing CORe, as not only is it online, but people are from all around the world, which means we aren’t online all at the same time, and they have all different sorts of backgrounds.

One post I remember most came from a fellow student who was a bit intimidated by the incredible backgrounds of so many others in the cohort. Instead of everyone ignoring his post, he got over a dozen messages of support from others in the cohort, which encouraged not only him, but also others including myself who were feeling exactly the same way (though weren’t brave enough to post it in the group!).

I’ll be interested to see how the community evolves as we continue through the course.

Topics: HBX CORe, Student Bloggers

CORe Week 2: Managing Your Time

Posted by HBX on March 17, 2015 at 4:59 PM

This week Conor, Elizabeth, and Michael offer advice on how to effectively balance CORe with jobs, travel, and big life events! 




My CORe experience so far has been overwhelmingly positive.  I won’t lie, though; it has been challenging.  That said, I feel I have already learned more about the material than I have thus far in my life.  Terminology that I had previously heard or read, but never fully understood, has now become a clear and useful part of my lexicon. 

My biggest concern in the weeks leading up to the start was this:  How will I be able balance the CORe material with my full time teaching schedule?

I owe my capacity to do so to the accessibility of the CORe platform.  That is, it is not necessary to devote 2 or 3 or even 4 hour chunks of time in a day to do the work. 

Even if you only have 45 minutes free, you can log in from anywhere (home, coffee shop, library, etc.), make some progress through a module, then get back to your daily tasks feeling like you’ve made some headway. 

A single lesson usually consists of a short video (3 or 4 minutes), some further written explanations or diagrams, followed by some ‘knowledge check’ questions or a short written reflection. The platform does not allow you to continue to the next concept until after you’ve completed the current questions or reflection, which ensures that you are actively participating as opposed to simply reading or listening passively. 

The compact nature of each lesson can really drive home a point without taking up too much time.   Logging in a couple of times a day not only allows me to pace myself, but also keeps the material fresh in my mind without feeling overworked.  This routine fits my schedule well as I teach in the evenings and am not able to designate that time for CORe.

Also, my advice is to take pen to paper notes while going through the modules.  It has helped me thus far on the quizzes which can be a little nerve racking :)



 

The February 2015 cohort of CORe has started, and the race to learn the material and to complete the assignments due is most definitely on.  The HBX team is right when they let the applicants know that CORe is not for the faint hearted (especially if one has a full time job). 

It is fascinating, the technology behind the platform is breath-taking and getting to knowledge bomb your team at work is great fun, but it is a true commitment of time, energy and mind. 

So what happens when you are doing CORe and have a full time job and simultaneously your sister is getting married…?

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For those of you avidly following my blog posts you will know that I have three sisters (I’m about as lucky as they come).  One is getting married this week which immediately raises the question, “How do I complete my CORe work and celebrate with my sister?”.

The CORe team does a great job of pacing the modules and assignments which helps to keep the panic levels down but also means that it is more difficult to “get ahead”.

Good news, there is room for manoeuvring for those willing to work hard. It is absolutely possible to ramp up on CORe ahead of a big event or a holiday.

You have to be willing to devote a significant portion of your time leading up to the event to working on CORe to obtain this mobility, but in my mind, if the trade-off is a couple of late nights to be able to enjoy your sister’s wedding, then the choice is clear.




My CORe experience thus far has exceeded expectations already. I am very pleased with the interactive platform, the case study method, and the quality of interaction between my peers in the course.

I find myself surprised at how engaging the platform makes each module. The videos, the animations, and the cold calls and reflective responses all together have made my learning experience very enjoyable.

The first modules for each course laid the foundation, and I’m looking forward to diving deeper in the upcoming weeks. I’m also really looking forward to meeting up with my fellow HBX peers in the Boston area, as we plan on meeting soon.

I was fascinated reading through everyone’s background as they introduced themselves on the HBX group Facebook page. It’s evident the individuals assembled here are very bright, courteous, and respectful.

While I continue to work at my job during the week day, I try and dedicate an hour to the course before work and an hour or two after I get home. I traveled to Arizona for work this week and I found myself doing classwork on the plane. The course is flexible enough to allow me to do both work and class, on top of other commitments.

Topics: HBX CORe, Student Bloggers

CORe Week 1: Meet Our Student Bloggers!

Posted by HBX on March 16, 2015 at 11:22 AM

These six intrepid CORe students have agreed to contribute to our blog by sharing their experiences throughout the 11-week HBX CORe program.

Please take a minute to read through their profiles, and stay tuned for new posts each week on subjects ranging from advice for future students to the case-based learning model, the dreaded "Cold Call" and much more! 

 

Dan-Grunstein

Dan Grünstein
Co-founder of a tech startup in Strasbourg, France

Conor_Blute

Conor Blute
Currently teaching English in Vilnius, Lithuania 

Elizabeth-Malkin

Elizabeth Malkin
Working at RallyPoint.com in Cambridge, MA

Michael_Colletti

Michael Colletti
Working for a cutting-edge SaaS startup in Boston

Chelsea Pompadur
College graduate working with youth in London

Sam-Gant

Sam Gant
Pursuing a career in International Development

Topics: HBX CORe, Student Bloggers

6 Tips for Incoming HBX CORe Students

Posted by Megan Burkes on March 3, 2015 at 5:46 PM

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We asked our HBX CORe credential holders what advice they would share with incoming students to help you better prepare for CORe and position yourself for success in the program. Here's what they had to say:

 

1. Don't Procrastinate!

This is, by far, the biggest tip from our ambassadors. CORe is a rigorous, time-intensive program. Make it a priority and manage your time well so you can get the most out of the course. 

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2. Take Good Notes

Break out the ol' pen and paper (or an online tool like Evernote) - these notes will help you retain more of what you're learning and make your life easier when taking quizzes or studying for the final exam.

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3. Be Social

A huge benefit of CORe is the ability to learn from and interact with a cohort of really engaged peers. To get the most out of the program, you should ask and answer questions regularly, participate in discussions, and get to know your fellow students. 

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4. Get Real 

CORe teaches business concepts by using real-world examples so you can really understand why they are important. By paying attention to the world around you and looking for examples of the concepts you've studied, you will retain more of what you're learning and hone your skills.

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5. Slow and Steady

Did we mention the importance of time managment? Many of you are juggling jobs, internships, school, friends, vacations, and more, so it's crucial that you plan ahead and block out some time for your CORe coursework each week.

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6. Enjoy It

Just because you're working hard doesn't mean you can't have fun!

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Topics: Business Fundamentals, HBX CORe

Setting the Stage – and the Table – for a Successful Career

Posted by Jill Baker on February 27, 2015 at 3:29 PM

 

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Ellie Andersen, a senior at Amherst College majoring in History, participated in CORe during the summer of 2014. It may be fitting that she helped pioneer this first cohort because she comes from hearty stock.

Raised on a family farm in Pennsylvania, she never had formal business training but appreciated the value of it. Her older sister and eldest brother had both graduated from Harvard Business School, and in her parents, she observed the business savvy required to build a successful livestock and produce operation.

“I always saw myself going to business school at some point,” Ellie explains, “but HBX CORe gave me a way to test the waters. It supplemented my education and complemented my lifestyle.”

That lifestyle included an unpaid summer internship with Blue Hill at Stone Barns, a Rockefeller-founded agricultural site in New York State with a field-to-table restaurant. “I get a kick out of combining history, food, farming, and events because they all hinge on business,” she explains. “Sometimes that combination surprises people,” she says with a twinkle in her eye.

BlueHillatStoneBarnsAndersen

Ellie was able to integrate her interests by exploring business fundamentals through CORe. “I particularly enjoyed the Enhanced Participation,” she says. “I had a chance to ask questions as well as answer them and to engage with my fellow cohorts.”

Establishing a community of learners is one of the goals of HBX. Peers can reach out to each other individually or in groups without the intervention of faculty. 

Utilizing the case study method that distinguishes HBS classrooms, CORe presents real-world examples via video interviews with executives from a diverse range of companies. Ellie found this approach extremely effective. “I learned about economics, statistics, and principles I can apply to daily life” – and she’s already doing that.

Powerhouse Ellie Andersen

As Campus Community Coordinator for Amherst, Ellie serves on The Power House team, a group of students charged with transforming a former power plant into a venue for social gatherings. Tasks include making building improvements, setting policies, and establishing operational systems. Thanks to HBX, Ellie has brought her budgeting skills and inter-personal finesse to the project.

That confidence has carried over into her personal life where she can now converse with a family friend who works in Finance. “I think of business differently now.  I have a whole new source of understanding, and I’m excited to learn more,” Ellie explains. “I know I don’t know everything, but I can at least talk to people on a basic level.”

What advice does she have for others considering HBX? “Throw yourself into it and remember that no question is a bad one. Approach CORe with a blank slate and be open-minded. I never saw myself as particularly math-oriented, but I moved through Financial Accounting step by step, and it all worked out. It was fun.”

Lucky for us that Ellie sees connections where others might not.  Thanks to that – and some HBX training – we may some day dine on locally grown cuisine at her historically-correct establishment while enjoying live entertainment.

 

Topics: Student Profiles, HBX CORe