Harvard Case - WeSkill: Sustainability Challenges of a Platform Start-up in an Emerging Market
"WeSkill: Sustainability Challenges of a Platform Start-up in an Emerging Market" Harvard business case study is written by Ambrish Dongre, Sourav Bikash Borah, Laxminarayana Yashaswy Akella. It deals with the challenges in the field of Marketing. The case study is 23 page(s) long and it was first published on : Nov 28, 2023
At Fern Fort University, we recommend WeSkill adopt a multifaceted approach to address its sustainability challenges, prioritizing a hybrid business model that leverages both paid and free content, incorporating social impact initiatives into its core operations, and strategically utilizing technology and analytics to optimize resource use and user engagement. This strategy will enable WeSkill to achieve long-term growth while contributing positively to the socio-economic landscape of the emerging market.
2. Background
WeSkill is a platform start-up operating in an emerging market, offering online courses and skill-building programs. The company faces sustainability challenges related to its business model, user acquisition, and social impact. WeSkill's core challenge is to achieve profitability while maintaining user engagement and promoting social good in a resource-constrained environment.
The main protagonists in this case study are:
- Asif Khan: CEO of WeSkill, passionate about providing accessible education and skill development opportunities.
- The WeSkill Team: A dedicated group of individuals working to achieve the company's mission.
- Potential Users: Individuals in the emerging market seeking to enhance their skills and career prospects.
3. Analysis of the Case Study
WeSkill's sustainability challenges can be analyzed through the lens of the following frameworks:
a) SWOT Analysis:
- Strengths:
- Strong mission aligned with social good.
- Experienced team with expertise in technology and education.
- Potential for high user growth in an emerging market.
- Weaknesses:
- Limited financial resources.
- Dependence on free content for user acquisition.
- Lack of established brand recognition.
- Opportunities:
- Growing demand for online education and skill development.
- Potential for partnerships with government agencies and NGOs.
- Development of innovative business models and technology solutions.
- Threats:
- Competition from established players in the online education market.
- Economic instability and fluctuations in the emerging market.
- Challenges in user retention and monetization.
b) PESTEL Analysis:
- Political: Government policies supporting education and skill development.
- Economic: Emerging market with potential for growth but also economic instability.
- Social: High demand for skills development, especially among youth.
- Technological: Rapid advancements in online learning platforms and technologies.
- Environmental: Limited resources and infrastructure in the emerging market.
- Legal: Regulations governing online education and data privacy.
c) Marketing Analysis:
- Market Segmentation: WeSkill needs to identify and target specific user segments based on their needs, demographics, and learning preferences.
- Target Markets: Focus on youth, professionals seeking career advancement, and individuals seeking to upskill for new opportunities.
- Brand Positioning: Emphasize WeSkill's commitment to accessibility, affordability, and social impact.
- Marketing Channels: Utilize digital marketing, social media, and partnerships with local organizations to reach target audiences.
- Marketing Communications: Create engaging content that highlights the value proposition of WeSkill's platform.
4. Recommendations
To address WeSkill's sustainability challenges, we recommend the following:
a) Hybrid Business Model:
- Free Content: Offer a core set of free courses and resources to attract users and build brand awareness.
- Premium Content: Develop high-quality, paid courses and programs that offer advanced skills and career development opportunities.
- Freemium Model: Allow users to access a limited amount of premium content for free, encouraging them to upgrade to a paid subscription.
- Partnerships: Collaborate with government agencies and NGOs to offer subsidized or free access to specific courses for underserved communities.
b) Social Impact Initiatives:
- Skill Development Programs: Partner with local organizations to provide free or low-cost skills training to marginalized communities.
- Mentorship Programs: Connect experienced professionals with aspiring individuals to provide guidance and support.
- Job Placement Assistance: Help graduates secure employment opportunities through partnerships with employers.
- Corporate Social Responsibility: Integrate sustainability practices into WeSkill's operations, minimizing environmental impact and promoting ethical business practices.
c) Technology and Analytics:
- Data-Driven Decision Making: Utilize data analytics to understand user behavior, optimize content delivery, and personalize learning experiences.
- AI and Machine Learning: Implement AI-powered features to personalize learning paths, provide intelligent recommendations, and automate content creation.
- Information Systems: Develop robust information systems to manage user data, track progress, and ensure platform security.
d) Marketing Strategy:
- Digital Marketing: Leverage social media, search engine optimization (SEO), and online advertising to reach target audiences.
- Content Marketing: Create engaging and informative content that educates users about skill development and career opportunities.
- Influencer Marketing: Partner with relevant influencers to promote WeSkill's platform to their followers.
- Community Building: Foster a sense of community among users through online forums, events, and networking opportunities.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies: WeSkill's core competencies lie in technology, education, and social impact. The recommended strategies leverage these strengths to create sustainable growth.
- External Customers: The recommendations cater to the needs and preferences of WeSkill's target audiences, including youth, professionals, and underserved communities.
- Internal Clients: The recommendations align with WeSkill's mission and values, fostering a culture of social responsibility and innovation.
- Competitors: The recommendations differentiate WeSkill from competitors by focusing on affordability, accessibility, and social impact.
- Attractiveness: The recommendations are expected to generate positive financial returns through increased user engagement, revenue generation, and social impact.
6. Conclusion
By adopting a hybrid business model, incorporating social impact initiatives, and leveraging technology and analytics, WeSkill can achieve sustainable growth while contributing positively to the emerging market. This approach will enable the company to attract and retain users, generate revenue, and build a strong brand reputation.
7. Discussion
Other alternatives not selected include:
- Purely Free Model: This option would be unsustainable in the long run due to limited revenue generation.
- High-Cost Premium Model: This option would limit access to individuals with limited financial resources.
Key assumptions for the recommended approach:
- User Demand: There is a significant demand for online education and skill development in the emerging market.
- Technology Adoption: Users have access to internet and technology to utilize WeSkill's platform.
- Government Support: The government will continue to support initiatives promoting education and skill development.
8. Next Steps
To implement the recommendations, WeSkill should:
- Develop a detailed business plan: Outline the specific features of the hybrid business model, social impact initiatives, and technology investments.
- Secure funding: Seek funding from investors who support social impact businesses.
- Build a strong team: Hire experienced professionals in technology, education, and marketing.
- Launch pilot programs: Test the hybrid business model and social impact initiatives in specific target markets.
- Monitor and evaluate results: Track key performance indicators (KPIs) to assess the effectiveness of the strategies and make necessary adjustments.
By taking these steps, WeSkill can successfully navigate the challenges of operating in an emerging market and build a sustainable and socially responsible business.
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Case Description
In May 2022, Praneet Agarwal, Shashank Patidar and Shaurya Joshi-founders of WeSkill, a live, online "extracurricular" learning platform for children below the age of 14 years-were contemplating ways to sustain their business going forward. The venture, which had been launched in September 2020 when the entire world was fighting COVID-19, had traversed multiple twists and turns. The team had worked hard and enjoyed some success during the COVID-19 pandemic. However, as the impact of the COVID-19 pandemic waned, challenges began to mount. The case documents multiple issues that arise when creating a platform start-up and sustaining it over a long period. It also examines why start-ups that experience initial success may not sustain operations as time progresses.
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