I never thought that working from home will be so easy and so comfortable with so many online platforms where virtual meetings, video conferencing and so many online platforms of keeping real-time work and employees engaged. The one industry which finds significant radical change post-Covid 19 is the education sector & the work from home concept. Well, don’t underestimate the power of these two segments which are going to reshape the Indian markets. Every slowdown brings significant growth opportunities. This opportunity helps to reshape a particular economy.
Smartphone replaces a laptop demand but it does not reduce the process of getting educated. The cost of virtual education is low compared to the physical cost structure and this grey segment will increase the demand for many schools to come up with a virtual school model simultaneously with physical. This is now going to be a billion-dollar industry in the coming years for the school education alone. I am not considering management and executive courses in a virtual class. That is another industry already established. The school industry is just in the wings to see a significant jump of growth.
Technology has replaced the process of reaching the end-user. Corporates and Education provider will now explore the virtual world of providing the knowledge and also the process for providing the same. Teachers and student who are now currently both at home will get connected together through the technology platform.
In the coming 10 years be very clear that your child will hardly need to go to school for education purpose. Most of the content or classes will be virtual and school will turn out to be only a place of extracurricular activity followed with exams. These schools will be more tuned towards personality development and other segments of the education world. The child education model is now changing at the grass-root level which earlier used to be from top rich schools and colleges. The whole industry is under a tremendous overhaul currently.
The surprising part is that there is no content challenge. The teacher will take an online class just like normal class and students will give virtual attendance, the teacher will give homework and will take classes accordingly. Video lectures and assignments are no longer dependent on face to face meeting.
Some institutions are uploading lectures to YouTube, while the Kendriya Vidyalaya Sangathan is deploying its Swayam Prabha portal, which has lectures on DTH and online, to help students. Andhra Pradesh is trying to tap Doordarshan to remove access barriers. Some institutions have adopted the Zoom app, other Google Classroom. Yet, the instructors are unable to say how effective they are, and not every student is tuning in. Here is how the system has rolled out. These are now lockdown instruments which will soon become permanent modules for extended classes and education model.
Now just imagine those who cannot afford to have entry or affordability of having education from a school they can easily now have the same with a low-cost module provided by these schools under a different package.
Every house in India may not have WIFI but they have mobile internet which is sufficient under the 4G plan to run a virtual class. Education is now no longer limited to classroom bricks neither the work of the office is now under the compulsion of daily Biometric impression. 4G connectivity is a problem and slow internet problem might be an issue. This also gives birth to the demand of having WIFI connectivity.
This lockdown will open up many new industries and new opportunities since the great mind who are yet to be identified are working at home to create something new. The germination of an idea needs solitude and lockdown have provided the same. There are multiple avenues of conducting virtual classes and using free services will push up the demand for paid long term virtual class programmes.
Professional courses are already conducted through virtual class model now me will move a few steps further where the fixed cost component will be reduced and virtual classes will be taken up.
Coming to work from home concept many non-critical departments of back-office will be now on virtual connected platform and hence the salaries will come down as trade-off and also the fixed cost will come down for the companies.
Various types of online interaction and connected modules between employees are available at free of cost. Under the current lockdown, we are using them like anything. Post-COVID these free services will be purchased by the companies or they will be under a subscription model where the trade-off of the fixed cost will be beneficial to the companies.
The lockdown also threatens to throw out many people from the full-time job to part-time job and hence cut down on cost part. This may not happen so aggressively but it cannot be ignored.
We are about to explore new opportunities and new business strategies. Lockdown module has changed the architecture of the traditional business model.