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Khan academy founded by Mr. Salman Khan in late 2004 is something which started as tutoring an individual online lead to an evolution that became the future of education all over the world.

VISION

Providing education to every student in the world in the most simplistic and innovative manner.

MISSION

Bringing classroom on the Internet. Making education easy, fun and effective.

Technical - Human- conceptual skill

Consider yourself sitting in a classroom where the professor is teaching you a chapter on algebra. You do not understand a concept but are too shy or scared to ask thinking that you might make a fool of yourself. Rather if you are watching the same thing online you can pause and go back to the concept taught, refer to some material or revise the basics again.

In today’s age man and machine are meant to go hand in hand. It not only eases the work but also enables the optimized result required. By providing an online platform there are advantages like optimized utilization of time & resources, possibility of graphical representation & animations and overcoming barriers of geographical constrains.

New Generation Organization

Students can learn a wide variety of topics in math, science, economics, history, and much more at the click of the mouse. They can watch thousands presentations given by experts, do math exercises, and keep track of their progress with different tools. With high-quality lectures and an interactive format, Khan Academy empowers kids to set goals and learn at a comfortable pace.

Revenue/Business Model

The project is funded by donations. Khan Academy is an NGO with significant backing from the Bill & Melinda Gates Foundation and Google. Several people have made contributions resulting in total revenue of about $150,000 in donations. Additionally, it also earned $2,000 a month from ads on the Web site in 2010, until Khan Academy ceased to accept advertising. In 2010, Google announced it would give the Khan Academy $2 million for creating more courses and for translating the core library into the world’s most widely spoken languages, as part of their Project.

Business Model is based on the concept of uploading videos on YouTube. These videos consist of the experts in respective fields. Provisions for test, reviews and analysis are also provided to enable students, teachers and parents to understand and work on the strengths and weakness of each individual.

Bounded rationality

Rationality of an individual is bounded by the information they have. Khan academy provides a varied source of information for students to learn and understand every concept in detail and proficient manner.

The tutor can also have better access about the student’s abilities as it provides graphical information regarding the performance of an individual. Assume a case where a student has given an online test. After submitting the result a graphical display of the answers given is shown. Here he/she can have access to the number of answers answered correctly, time spent on each answer and strength and weakness on a particular subject. The graph below shows the same:

The idea here is to provide as much data to the teacher as possible. This will help him/her evaluate and understand the problem of every student. Hence resulting in max results

Teamwork/Organization Control

Any organization is incomplete without a team. Teamwork is very essential for an organization as it helps to build and grow. This academy is incomplete without Academic team featuring in different videos, innovation team, technical team and sponsors. Each one of them has different roles and with absence of any, the organization cannot function.

Organization control is equally essential as it is required to set parameters, evaluate the performance and make changes according to the feedback received. If there is no scope for improvement then the organization comes to a stagnation and there always are competitors ready with new ideas and take away your market share.

Future

Online education is the near future as it has several advantages over classroom tutoring both in the student’s and teacher’s perspective. This could be the DNA for a physical school where students spend 20 percent of their day watching videos and doing self-paced exercises and the rest of the day doing whatever pleases and interests them the most.