Distance Learning Division of the Academy - Research Proposal Example

S.A.Ferozie Order # 161985 Proposal Essay PROPOSAL Mr. Alexander Polasky, Director, Pearl Academy of Fashion Dean Jones 3rd April2007 Re: Distance Learning Division of the Academy The Purpose The purpose of this paper is to justify the introduction of Distance Learning at the Academy for outstation applicants who are unable to attend regular classes at the Academy. Our popularity has reached far and wide and we could easily double the number of our student, only if we could. We have already reached our optimum level of student intake and are forced to deny further admissions each year. A sustained demand has now been established for setting up of Distance Learning options under the brand of the Academy. For the last two Academic Sessions we have been receiving numerous enquiries from students located in other cities, even from other neighboring countries. I believe that it a great opportunity for expansion of the Academy’s reach over larger geographical area. This is also a reflection of the acceptance of our academic courses. No doubt the good word has spread through our students who have passed out during the last 10 years of our existence. It is proof of our success in the field of teaching and training students in the growing spectrum of Fashion Technology. The Problem/Opportunity Although the idea has been around for the better past of one year, the faculty has been divided on the issue and there have been passionate debates against this move. The perceived perceptions of the problem are summarized below. There will be a great strain on resources and we are not prepared for it We do not have faculty that can take the stress of teaching in absentia Our courses are not designed to satisfy a student staying at a distant location In absence of one-to-one interaction the quality of learning will suffer Evaluation of students and their capability will be impossible without their presence at the Academy The faculty will not be aware of aptitude and will not be able to assist in confidence building measures during a difficult period Both the student and also the faculty will adopt relaxed attitudes due to the distance and results will be poor All above will damage the high reputation of the Academy that has been painstakingly built up over the years. I must however strongly state that all these reservations are unsubstantiated and are the result of both misinformation and lack of knowledge. Distance Learning is being offered the world over and there are numerous successful models that have been proven over the years. The Solution I have made a detailed study of available resources and requirements, together with a budgeted forecast that goes to prove that the fears are entirely unfounded and that the Academy is fully capable of not only delivering a competent course option to students in far flung areas, but also make it a viable proposition. I have divided the solution in three distinct areas and will briefly describe each one of them. We are to use three resources; these are faculty, the course and the financial requirements for the same. i. Faculty Presently we have a student: faculty ratio of 12:1 with support staff: student ratio at 40:1 For Online course additional faculty that will be recruited can be hired in the ratio of 25:1 and the support staff, mainly in accounts and communications, will be in the ratio of 100:1 This translates into the huge margins as described in the attached annexure. ii. Finances You are aware, Sir, that the current fee structure is such that for a bench strength of 1000 students the annual fees of $ 4500 per student gives an annual return of about 29% net margins. This includes costs like faculty and other support staff remunerations, energy costs, maintenance, financial costs and equipment replacement costs. Our present campus facilities do not allow us to expand hence this is the limit of our revenue, unless we either expand the campus or build a new one. In both cases several million dollars will be required for the infrastructure and supporting facilities. However we can achieve this additional number on our rolls if we offer Distance Learning through On-Line Courses. Considering a lower fee structure and reduced cost of energy, maintenance and equipment replacement cost, our combined margins have been calculated to go to about 57% of revenue earned. There is a strong case of reduction in fees of these students, which in turn will increase their numbers even more. The best part is that the greater number pays for itself and will not be a strain on the infrastructure. The overall estimates have been submitted to you in a separate financial annexure and I am only highlighting the results. 3 The Course Finally the course itself, and this is the Academys real strength. This is the star attraction that brings in the students. The added advantage is that they can now study it from the comfort of their homes. The course remains the same, but some modifications will be required to break down the components into small segments that will be uploaded on the company website. The paying student can download these from the website and study and reply using flexible hours. The time frame will however be under a routine that will be set out for them. Appropriate exam papers that will be evaluated by the faculty that will be hired for this. They will accompany the course materials sent to the students. The additional faculty will supervise the course and the evaluation process, so that existing faculty is not stressed. Conclusion It is my recommendation that the Academy should commence the Distance Learning programme from this year itself. This will serve several objectives 1. The Academy will be able to increase the number of students without adding significantly to its infrastructure 2. Extra expenditure on hiring new faculty will be more than adequately covered by the extra fees earned and will leave better margins 3. The Academy will gain both national and international recognition as more students join from distant areas including other countries as well. 4. This will pave the way for the Academy to get into meaningful partnerships with other reputed Institutions for exchange programmes. This will enhance its international reputation and will give greater depth to its course materials. 5. As the Fashion Industry is Global in nature, the Academy’s students will find better placement at more locations. Such a decision requires your personal conviction and approval. You have stated in your last annual vision statement that you wish to see the Academy’s name among the top rated institutions of Learning in the world. Believe me, this is the opportunity to realize your dreams. Of course you shall have my full support and co-operation in this effort. Indeed it will be singular honour to serve under your able leadership. BUDGET FORECAST FOR DISTANCE LEARNING PROGRAMME YEAR 2007-08 INCOME AND EXPENDITURE ACCOUNT INCOME NUMBERS REGULAR FEES @ $ 4500 EACH ONLINE FEES @ $ 2500 EACH SUB TOTAL REGULAR STUDENTS 1000 4,500,000 4,500,000 ONLINE STUDENTS 2000 5,000,000 5,000,000 TOTAL INCOME $ 9,500.000 EXPENDITURE REGULAR STUDENTS ONLINE STUDENTS FACULTY 1,008,000 960,000 SUPPORT STAFF 150,000 75,000 ACCOUNTS 300,000 400,000 MANAGEMENT 1,000,000 250,000 ENERGY 250,000 100,000 MAINTENANCE 150.000 100,000 FINANCE 40,000 20,000 EQUIPMENT REPLACEMENT 200,000 400,000 COMMUNICATION 20,000 100,000 SUB-TOTAL 3,118,000 2,405,000 EXCESS OF INCOME OVER EXPENDITURE RETURN RATIO FOR REGULAR STUDENTS 29% FOR ONLINE STUDENTS 48% REGULAR/ONLINE COMBINED 57% Read More