Taking a course is fine and dandy, but does it actually make a difference? Studies say yes

Winner: Online Courses

Blame the pandemic again, or in this case, thank it. While online courses, particularly MOOCs (Massive Open Online Courses) offered by platforms like Coursera and Udemy were on the rise pre-COVID, the pandemic accelerated that growth; a third of all users on MOOCs joined in 2020.

Many courses are free or offered at a minimal fee compared to what someone would pay for the course in a college setting (think $50 versus $1,500). Additionally, many of these courses are offered by prestigious universities with the same professors that offer them in person.

20% of courses are in business, another 19% technology, the rest is split in smaller segments including Science, Social Science, Humanities, Education, Health and Medicine, Engineering, and others.

Taking a course is fine and dandy, but does it actually make a difference? Studies say yes. Entrepreneurs and small business owners can increase their skill set at with minimal cost in both time and money. Employees who completed courses (“completed” is the key word here) also saw advancements in their careers, achieving promotions, raises, and more responsibility.

Loser: Traditional MBA programs

While enrollment in MBA programs has been in decline for the past five years, this past application season has seen a record number of applicants. That’s because many programs lowered the barrier to entry by extending deadlines and lower standardized testing requirements.

This sounds like good news, but it’s really exclusive for the big guys: Harvard, Wharton, Stanford, and the like. The middling guys are likely to be hurt because of the decline in foreign students due to — say it with me — COVID.

Also consider that the value in offered in online courses, and the sticker-shock price tags of MBA programs, make people less likely to enroll in the latter — even in a down economy that generally sees people enrolling in college to improve their market chances.

Get to know

A few years ago, coding was the new literacy. Hasty people took courses on Python; wise people waited. Today, no-code or low code companies have developed, and continue to grow, amazing platforms and products, enabling no-coders to create digital tools and apps for their businesses. The interfaces often feature drag-and-drop design, making them simple enough for the slowest among us. Check out Zapier, Bubble, and Webflow, and witness the magic you can make. Even if you can code, don’t be a snob — these platforms are great for prototyping an idea or creating a quick app. Keep an eye on these companies and more for 2021.

(Originally featured in Mishpacha, Issue 851)