Julio Serrano Bridging Educational Frontiers AI-Adaptive Learning, Subscription Strategies, and the Quest for Global Online MBA Accessibility Vaasa 2023 School of Management Master’s thesis in Strategic Business Development 2 UNIVERSITY OF VAASA School of Management Author: Julio Serrano Title of the Thesis: Bridging Educational Frontiers: AI-Adaptive Learning, Subscription Strategies, and the Quest for Global Online MBA Accessibility Degree: MSc. Programme: Strategic Business Development Supervisor: Rodrigo Rabetino Year: 2023 Page Count: 109 ABSTRACT: This research dives deep into the rapidly evolving realm of postgraduate online education, mainly focusing on online MBA programs. The study unveils significant patterns and fresh per- spectives through comprehensive content analysis and participant interviews. The transforma- tive potential of AI in personalizing learning experiences has been recognized, with AI-AL tools highlighted as not just tools for automation but as dynamic partners in curating individualized learning experiences. Another significant discovery is the “resignated acceptance” phenome- non, revealing society's shift towards accepting technology’s omnipresence in education. More- over, the rise of subscription-based models indicates a shift towards democratizing elite educa- tion, though questions arise regarding its long-term implications on educational quality. Practi- cal implications suggest educational institutions could leverage AI to optimize student learning experiences and explore subscription-based pricing strategies to increase access. However, a balanced approach, ensuring the human touch in education remains, is crucial. Furthermore, emphasizing local collaborations when expanding into new regions is essential. This study un- derscores the importance of adapting to technological advancements while ensuring holistic, high-quality, and globally inclusive educational experiences. KEYWORDS: Artificial intelligence, Adaptive learning, Online MBA, Subscription pricing model, Accessibility to higher education in developing regions 3 Contents 1. Introduction 8 1.1 Motivation for the study 8 1.2 Research gap 8 1.3 Research problem and contribution 9 1.3.1 Conceptual contributions 9 1.3.2 Managerial implications 10 1.4 Thesis structure: 10 2. Literature review 12 2.1 Breaking boundaries: The rise and progression of distance learning and MBA programs 12 2.1.1 The MBA history 12 2.1.2 Emergence and evolution of distance education and the online MBA 16 2.2 Breaking boundaries: The rise and progression of distance learning and MBA programs 21 2.2.1 The shift from traditional MBAs to emerging educational trends 21 2.2.2 Ensuring access to MBA education for underprivileged students: The promise of digital platforms in developing countries 22 2.3 Exploring the world of virtual education: A comprehensive look at modern online MBA programs 25 2.3.1 Virtual classrooms 26 2.3.2 Program structure 28 2.3.3 Social presence 30 2.3.4 Learning Management Systems (LMS) 32 2.3.5 AI and adaptive learning 34 2.4 The subscription-based payment model 35 2.4.1 Benefits of the subscription-based payment model 36 2.4.2 Challenges of the subscription-based payment model 36 2.5 Synthesis 37 3. Methodology 39 4 3.1 Research design 40 3.2 Participant selection 41 3.2.1 Criteria for selection 41 3.2.2 Sampling strategy 41 3.2.3 Participants profiles 42 3.3 Data collection 44 3.3.1 Development and structure of the interview guide 44 3.3.2 The process of conducting interviews 45 3.3.3 Rationale for chosen interview approach and its advantages 45 3.4 Data transcription 46 3.5 Data analysis 46 3.6 ChatGPT as a research assistant while performing content analysis 48 4. Findings 50 4.1 Introduction to the findings 50 4.2 Content analysis 50 4.3 Theme-specific analysis 54 4.3.1 AI-AL 54 4.3.2 Subscription-based pricing models 55 4.3.3 Accessibility in developing regions 55 4.4 Interlinking or overarching observations 56 4.4.1 The intersection of AI and accessibility 56 4.4.2 Pricing models and developing regions 57 4.4.3 AI’s role in pricing 57 4.4.4 Cultural sensitivities across themes 58 4.5 Discrepancies or outliers 58 4.6 Conclusions 59 5. Discussion 61 5.1 Ethical considerations 61 5.2 Conceptual implications 62 5.2.1 Comparison with existing theories 62 5 5.2.2 Discrepancies with existing literature 64 5.2.3 New insights 64 5.2.4 Modify or propose theories 65 5.2.5 Contribute to debates 65 5.3 Managerial implications 66 5.3.1 Practical applications 66 5.3.2 Recommendations 66 5.3.3 Caution 67 5.3.4 Broaden perspectives 67 5.4 Suggestions for future research 68 5.4.1 Extensions of the research 68 5.4.2 Unanswered questions 68 5.4.3 Methodological advancements 69 5.4.4 Case selection limitations 69 5.4.5 Subjectivity 70 5.4.6 Scope limitations 70 References 71 Appendices 82 Appendix 1. List of questions for every individual interview 82 Appendix 2. Content analysis for every participant 87 Appendix 3. Example of a ChatGPT query 97 Appendix 4. GDPR privacy notice shared with interview participants 101 Appendix 5. Data Management Plan 107 6 Figures: Figure 1. Medieval vs Humboldtian: A Comparative Analysis of University Pedagogic Models (Bowden & Marton, 1998). Page 13 Figure 2. Tertiary gross enrolment ratio by geographical region, 2000 and 2007, post- secondary education (Altbach, Reisberg, & Rumbley, 2009). Page 23 Figure 3. An extensive list of terms and concepts that define online education (OpenAI, 2023). Page 26 Figure 4. Community of Inquiry framework (Garrison, Anderson, & Archer, 1999). Page 31 Figure 5. LMS Market Share for US and Canadian Higher Education Institutions (Hill, eliterate.us, 2016). Page 33 Figure 6. AI-Driven Education Cycle (Baraishuk, 2021). Page 34 Figure 7. Advantages of Content Analysis for Interview Interpretation (Hsieh & Shan- non, 2005). Page 47 Figure 8. Broad topics and their mention frequency in the interviews. Page 52 Figure 9. Interviews buzzwords. Page 53 Tables Table 1. Exploring the Diversity of Pre-Internet Distance Learning Methods (Harting & Erthal, 2005). Page 15 Table 2. Notable Virtual Learning Platforms of the 1990s: A Table of Pioneering Distance Education Systems. Page 17 Table 3. Distance Learning and MBA Programs: A Journey of Milestones and Innovations. Page 19 Table 4. Distance Learning and MBA Programs: A Journey of Milestones and Innovations. Page 24 Table 5. Types of courses by delivery method (Allen & Seaman, 2011). Page 28 Table 6. Codified participants’ profile: from Alpha to India. Page 43 Table 7. Overview of Interview Parameters. Page 45 Table 8. The rationale for Incorporating ChatGPT as a Research Assistant in Content Anal- ysis. Page 48 Table 9. Voices from the field: Summary table of the theme-specific analysis. Page 57 7 Abbreviations AACSB Association to Advance Collegiate Schools of Business ACSB American Association of Collegiate Schools of Business AI Artificial Intelligence AI-AL Artificial Intelligence Adaptive Learning CA Content Analysis CEO Chief Executive Officer ECTS European Credit Transfer and Accumulation System EMBA Executive Master of Business Administration ESCP École Supérieure de Commerce de Paris 1IR The First Industrial Revolution 2IR The Second Industrial Revolution 3IR The Third Industrial Revolution ILS Integrated Learning System ITS Intelligent Tutoring Systems LMS Learning Management Systems MBA Master of Business Administration MOOC Massive Open Online Courses RQ Research Question SP Social Presence US United States 8 1. Introduction 1.1 Motivation for the study Management education stands at a crossroads. As the global labor market's demands shift, traditional teaching methodologies are becoming increasingly misaligned. The COVID-19 pandemic has further spotlighted the pressing need for educational institu- tions to innovate and adapt. Diaz, Halkias, and Thurman (2022) emphasize that business schools must embrace experimentation and innovation, cultivating ecosystems that champion reskilling and upskilling. Furthermore, a study by Çeviker-Çınar, Mura, and Demirbağ-Kaplan (2017) highlights the slow and partial integration of design thinking into business education, despite its potential to address the shortcomings of conven- tional pedagogical tools in preparing individuals for 21st century challenges. As the land- scape of business education evolves, there's a compelling need to explore transforma- tive tools and strategies that can bridge educational divides, ensuring that the next gen- eration of business leaders is equipped to navigate an ever-changing world. 1.2 Research gap Much has been discussed about the rise of AI in education. AI can revolutionize learning by tailoring it to individual needs (Tapalova & Zhiyenbayeva, 2022). The potential of AI in education is undeniable, yet its deep integration into online MBA programs, especially in developing regions, remains barely explored. Subscription models, despite their growing popularity, remain a contentious topic. As Brown and Adler put it (2008), "merely increasing access does not guarantee the same quality of education." There is plenty of research showcasing the potential of these mod- els but less diving into their practical implications, successes, and failures, especially in the context of online MBAs. Developing regions, with their unique challenges and op- portunities, have not been at the forefront of these discussions. Teferra and Knight (2008) emphasized the significance of local and international partnerships in higher education 9 for these regions, but the integration of AI and subscription models is a largely uncharted territory. 1.3 Research problem and contribution This study addresses the pressing need to explore the confluence of AI adaptive learning systems (AI-AL), subscription-based pricing strategies, and their feasibility in developing regions for an online MBA program. The specific objectives of this thesis are as follows: • Investigate the combined impact: To explore whether the combination of AI-AL and subscription-based pricing strategy could make online MBA programs more accessible and feasible in developing regions. • Provide integration guidelines: To provide guidelines for educational institutions on effectively integrating AI-AL and subscription-based pricing in their online MBA programs. • Assess current barriers: To identify and analyze the challenges students from de- veloping regions face in accessing online MBA programs and explore how AI-AL and subscription-based pricing can address these barriers. As such, the central research question driving this study is: How can AI-AL and subscrip- tion-based pricing models be effectively integrated to make online MBA programs more accessible and feasible for developing regions? 1.3.1 Conceptual contributions This research enhances the current literature by profoundly exploring the role of AI-AL in online MBA programs, an emerging area of global interest. In addition, it offers a thor- ough comprehension of the potential and hurdles associated with subscription-based pricing strategies, with a specific focus on their application in developing regions to cre- ate a more equitable educational landscape. Furthermore, this study bridges the 10 information gap on the feasibility of such innovative education models in developing re- gions, bringing unique insights, challenges, and opportunities to light. 1.3.2 Managerial implications Institutions looking to broaden their presence in developing regions can utilize the in- sights from this study to refine their offerings and pricing structures. Similarly, policy- makers in these nations can consider this research as a fundamental framework to shape their educational technology and affordability approaches. Additionally, online MBA pro- viders can incorporate these findings into their AI-driven platforms, ensuring they ad- dress the needs of a diverse student body, particularly those from developing areas. 1.4 Thesis structure: This document is structured systematically to provide clarity and coherence. Also, it has been penned using the University of Vaasa’s writing guidelines. The thesis begins with an Introduction in Chapter 1. It starts by elucidating the study's motivation, setting the tone for the reader to grasp the essence of the research. It then highlights the research gap, presenting the uncharted territories this study aims to explore. The research prob- lem and theoretical contributions are then outlined, giving readers a clear picture of the study's significance and anticipated academic contributions. Chapter 2 delves deep into the Literature Review, highlighting previous works, theories, and findings relevant to the study. This chapter lays the foundation, positioning the cur- rent research within the more extensive academic dialogue. In Chapter 3, the Methodology is detailed. It walks the reader through the research de- sign and then transitions into the participant selection process. A thorough outline of data collection follows, leading to data transcription. Ethical considerations are then highlighted to address the moral dimensions of the research. An intriguing aspect of this chapter is the mention of ChatGPT as a research assistant during content analysis, 11 indicating the integration of AI in the research process. The chapter then concludes with discussions on the limitations and a conclusive summary. Chapter 4 presents the Findings. A comprehensive content analysis follows an introduc- tory segment. The analysis is then broken down into theme-specific observations and overarching interlinkages, mainly focusing on the intersection of AI and accessibility. Any discrepancies or outliers observed during research are also brought to light, with the chapter concluding with its key takeaways. Lastly, Chapter 5 offers a Discussion. It starts by laying out the theoretical implications of the findings, followed by managerial implications, providing practical insights for institu- tions and policymakers. The chapter also offers suggestions for future research, show- casing potential avenues for academic exploration. It wraps up by highlighting the limi- tations of the current study. This thesis comprehensively examines AI-adaptive learning and subscription models within online MBA accessibility, structured meticulously for easy navigation and understanding. 12 2. Literature review After reviewing the literature on the history of MBA programs, the author of this thesis has found an interesting correlation with the concept of the three industrial revolutions popularized recently by Jeremy Rifkin (2011). The First Industrial Revolution (1IR) began in the late 18th century and was characterized by steam and waterpower to mechanize manufacturing and transportation. The Second Industrial Revolution (2IR) started in the late 19th century and was characterized by using electricity to create mass production and assembly lines. The Third Industrial Revolution (3IR), which Rifkin argues is currently underway, is characterized by the use of digital technology and renewable energy to cre- ate a “smart, green economy” and a “collaborative common” (Rifkin, 2011). All three industrial revolutions also coincide with significant disruption points in the development of the MBA program. One can easily discern the trend in question by examining the lit- erature review section of this thesis. It should be readily apparent to the reader upon review. 2.1 Breaking boundaries: The rise and progression of distance learning and MBA programs 2.1.1 The MBA history The first Industrial Revolution marked a significant shift in how work was performed. Before the 1IR, work was primarily done by hand, using muscle power. However, with new technologies, such as the steam engine and factory system, work began with ma- chines powered by fossil fuels instead of human labor (Mokyr, 2004). This work shift transitioned from muscle to brain power as people used their cognitive abilities to oper- ate and manage new machines and processes. The first successful business school, the École Supérieure de Commerce de Paris (ESCP), was born in 1819 as a response to the new needs that arose during the 1IR (Jones & Zeitlin, 2008). The Industrial Revolution brought about significant economic changes, including the growth of large-scale industry, the rise of a capitalist system, and the emergence of new forms of business organization 13 (Mokyr, 2004). These changes created a demand for a new type of professional with specialized knowledge and skills in business management. The ESCP was established to meet this demand by providing education and training in accounting, finance, marketing, and management (Jones & Zeitlin, 2008). The school was the first of its kind and set the standard for business education, leading to the creation of similar institutions across Eu- rope and eventually throughout the world. With time, businesses grew in size and com- plexity; there was a growing need for individuals with the knowledge and skills to man- age these organizations effectively. The birth of business programs can be traced back to the late 19th and early 20th centuries, at the crossroads between 1IR and 2IR, and the need for managers with a broader set of skills was on the rise (Jones & Zeitlin, 2008). The early business programs were designed to provide individuals with a comprehensive understanding of business operations and the ability to make strategic decisions that would drive the success of their organizations (Jones & Zeitlin, 2008). Figure 1. Medieval vs Humboldtian: A Comparative Analysis of University Pedagogic Models (Bowden & Marton, 1998). Harvard University created the first MBA program in 1908 (HBS, 2023). The school was founded by a group of alumni who believed that the study of business should be taught in a university setting, and it was modeled after the Humboldtian model of higher edu- cation, also referred to at the time as the German model. Figure 1 provides a comparison Research Teaching Learning Teaching Learning Medieval Universities Universities of the Humboldtian tradition 14 between the Medieval model and the Humboldtian models. The Medieval pedagogic model focused on religious studies, a rigid instruction system, and served the Church, while the Humboldtian model emphasized critical thinking, research, and contributing to society. During the Prussian reforms, Wilhelm von Humboldt developed the Hum- boldtian model, which depended on an expanding, educated middle class to support his views that education should be accessible to all (Bowden & Marton, 1998). Harvard Business School’s first Dean, Edwin F. Gay, was instrumental in its creation and development (HBS, 2023). The program offered courses in accounting, finance, and mar- keting, among others, and it was initially intended for students with a business back- ground. The HBS program quickly became a model for other business schools and re- mains one of the world’s most prestigious and well-respected business programs (HBS, 2023). The Association to Advance Collegiate Schools of Business (AACSB) was founded in 1916 as the American Association of Collegiate Schools of Business (ACSB). The crea- tion of the ACSB marked an important milestone in the history of MBA programs, as it was the first organization to establish accreditation standards for business schools in the United States (AACSB, 2023). The organization aimed to ensure that business programs met a certain level of quality and rigor and that the business schools were producing well-prepared graduates for their careers. This was important because it helped to es- tablish the MBA degree as a respected and valuable credential in the business world (DeBevoise, 2017). AACSB will be instrumental for the online MBA programs later on. The first Executive MBA (EMBA) program was formed at the University of Chicago’s Booth School of Business in 1943. This program was created to allow working profes- sionals to earn an MBA degree while still maintaining their jobs. The program was de- signed to be flexible, with classes held on weekends and evenings to accommodate stu- dents’ busy schedules. The Booth School of Business’s EMBA program was innovative in that it was the first program to cater to working professionals and it set the standard for other business schools to follow. The program’s success helped to establish the EMBA as a respected and valuable degree for professionals looking to advance their careers (The 15 University of Chicago Booth School of Business, n.d.). INSEAD, a French Business School, created the world’s first one-year MBA program in 1957 (DeBevoise, 2017). This is the first recorded attempt to create a shortened MBA program, an idea that is further ex- ploited in the present. Table 1. Exploring the Diversity of Pre-Internet Distance Learning Methods (Harting & Erthal, 2005). Methods of Distance Learning Description Correspondence Education A system of education where students receive lessons and assignments through postal mail. Examples include Caleb Phillips’ shorthand lessons advertised in the Boston Gazette in 1728 and Anna Eliot Ticknor’s correspond- ence school in Boston, Massachusetts. The Lyceum and Chautauqua Movements The Lyceum movement taught adults about arts, sciences, and humanities through lec- tures and correspondence components. The Chautauquas offered home-study courses supplemented with material from the pub- lishing house. They also offered a four-year reading and correspondence instruction pro- gram through which participants could earn certificates. University Extension Services A system of lectures at various sites and a sys- tem for correspondence instruction began in Great Britain in the mid-1800s. The University of Chicago developed a correspondence pro- gram, and William Rainey Harper is consid- ered by many to be the father of modern cor- respondence education. The Open University The world’s first university to teach only at a distance, admitted more than 24,000 stu- dents in 1971, its first year. Open University pioneered admission without qualifications and the concept of degrees built upon credits obtained by taking several modular courses. Students used various media, including spe- cially produced textbooks, TV and radio pro- grams, audio and video tapes, computer soft- ware, and home experiment kits. 16 Radio Schools began using radio for adult education in credit and self-enrichment courses in 1928. Early broadcasts were accompanied by read- ing lists and notes, and the librarians were asked to make available the books cited in the bibliographies. Television and Microwave The University of Iowa began experimenting with transmitting instructional television courses in 1932. Universities began to set up microwave networks in the early 1970s. In the early 1980s, the Adult Learning Service (ALS) of the Public Broadcasting Service master- minded the first nationally coordinated initia- tive designed to make television college credit courses and other formal learning op- portunities available to adults. 2.1.2 Emergence and evolution of distance education and the online MBA Before online programs were created concurrently with the expansion of the Internet, distance learning was achieved by correspondence education, radio or television broad- casting, or degrees earned “in absentia”; see Table 1 for more info on distance learning before the Internet (Harting & Erthal, 2005). Asynchronous, synchronous, and hybrid de- livery techniques were soon adopted by online programs (OMBA, 2022). Electronic learning environments and online courses emerged in the late 1960s and early 1970s. The first online MBA program was introduced in 1987 by Aspen University located in Denver, Colorado (OMBA, 2022). In the late 1980s and early 1990s, as more institutions started to provide online courses for working adults and adult learners, they also began to offer business degrees. The program was created to give working people a flexible and convenient method to complete their MBA while continuing to fulfill the demands of their existing employment. The program was delivered online and could be completed part-time, allowing students to continue working while earning their degrees. This for- mat proved to be highly innovative and ahead of its time, as it was one of the first online MBA programs available and predates the widespread accessibility of the Internet as we know it today. Aspen University’s online MBA program made MBA education accessible to anyone with an internet connection, regardless of location (OMBA, 2022). AACSB 17 accredited the first online MBA at Auburn University in 1989 (DeBevoise, 2017). This is an important milestone because a prestigious accreditation body such as AACSB vali- dated the relevance of an online MBA and set the standards for years to come. Initially, online courses were provided by universities like the University of Phoenix using Com- puServe, a 1969-founded computer time-sharing service (OMBA, 2022). Table 2. Notable Virtual Learning Platforms of the 1990s: A Table of Pioneering Dis- tance Education Systems Virtual Learning Environment Year Introduced Features FirstClass 1992 Web-based and desktop client interface, multimedia con- tent, synchronous and asynchronous communication tools, and customizable interface (The Open University, 1992) Blackboard 1993 Web-based interface, multimedia content, synchronous and asynchronous communication tools, more focused on trainer’s needs (Bradford, Porciello, Balkon, & Backus, 2007) Virtual-U 1995 Web-based interface, multimedia content, synchronous chat and whiteboard tools, and customizable interface (Fisher, Conway, & Groeneboer, 1999) TopClass 1995 Web-based interface, multimedia content, synchronous and asynchronous communication tools, and student tracking and assessment (Graziadei, 1997) WebCT 1996 Web-based interface, multimedia content, asynchronous dis- cussion forums, synchronous chat and whiteboard tools, and student tracking and assessment (Goldberg, Salari, & Swoboda, 1996) The World Wide Web’s launch in 1991 led to a change in education toward the Internet. The following year, the Alfred P. Sloan Foundation unveiled the Asynchronous Learning Networks, further advancing the “anytime, anywhere” concept of education (OMBA, 2022). Table 2 summarizes some of the most notable virtual learning environments in distance education during the 1990s. The platforms included in the table were pioneers in online learning, offering web-based interfaces, multimedia content, asynchronous and 18 synchronous communication tools, student tracking and assessment features, and cus- tomizable interfaces. The table provides a glimpse into the early stages of distance edu- cation and showcases the innovation and progress made during this period. Nowadays, these systems are called Learning Management Systems (LMS), and some of them, such as Blackboard, have endured over the years and are still available today. In addition to on-campus programs, online MBAs were available by the mid-1990s to meet the 100,000 students enrolling in advanced business degrees in the United States. Early online learning included both synchronous and asynchronous as well as hybrid components. Many of the first online MBA programs had weekend and evening require- ments, allowing students to continue working (OMBA, 2022). Typical MBA programs are two years long. They provide complete business skills by combining core and advanced education. Unlike traditional MBA programs, online programs combine fundamental business subjects with advanced and specialized study (Herrington, 2010). Online learn- ing may shorten the time required to complete an MBA and provide part-time enrolment. The growing need for specialization in business was foreshadowed by programs with a narrow focus, such as the MBA with an emphasis on entrepreneurship, launched by the University of Calgary in the 1970s. Soon after, more MBA specializations in leadership, marketing, healthcare administration, and accounting appeared (OMBA, 2022). Table 3 presents a timeline summary of Section 2.1, and other significant milestones rel- evant to this research. Note that the three industrial revolutions eras can be found in the timeline. 1IR allowed the creation of an academic need for business programs; establish- ing the ESCP marked an important date in 1819. The 2IR (late 19th, 20th century) shaped the history of MBA programs, from the conception of the Harvard MBA in 1908 to the creation of the first genuinely online MBA by Aspen University in 1987, an event that also coincides with the advent of the 3IR (Rifkin, 2011). 19 Table 3. Distance Learning and MBA Programs: A Journey of Milestones and Innova- tions Year Milestone 1728 Caleb Phillipps advertised in the Boston Gazette, offering to teach via weekly lessons sent by mail, making it one of the earliest attempts at distance educa- tion. (Debter, 2014). 1819 The first business school in the world, the École Supérieure de Commerce de Paris (ESCP), was born (Jones & Zeitlin, 2008). 1858 The University of London pioneered correspondence courses, providing ac- cess to higher education for global students. Charles Dickens called it “Peo- ple’s University”. While in prison, Nelson Mandela studied law as a University of London student (Debter, 2014). 1881 The Wharton School of Business was established as the first collegiate busi- ness school in the USA, in Philadelphia, Pennsylvania (Jones & Zeitlin, 2008), (OMBA, 2022). 1900 An MSc. degree, the forerunner to the MBA, was granted by the Tuck School of Business at Dartmouth College (OMBA, 2022). 1908 The Harvard Graduate School of Business Administration established the world's first MBA program (HBS, 2023; DeBevoise, 2017; Jones & Zeitlin, 2008; OMBA, 2022). 1915 Wendell Thomas Cunningham, the first African American to enroll in an MBA program at Harvard Business School, graduated (OMBA, 2022). 1916 AACSB is established (OMBA, 2022), (AACSB, 2023), (DeBevoise, 2017). 1921 Wharton created the first business research facility in history (OMBA, 2022), (The Wharton School, 2022). 1943 World’s first EMBA at The University of Chicago’s Booth School of Business (OMBA, 2022), (The University of Chicago Booth School of Business, n.d.). 1950 The first MBA program outside of the United States was introduced by the Ivey School of Business at the University of Western Ontario in Canada (OMBA, 2022). 1955 Pakistan’s University of Karachi was the first Asian university to offer an MBA degree (OMBA, 2022). 1956 Education over television: Chicago public television station WTTW broadcasts college courses for credit, attracting over 15,000 students in five years. Sunrise Semester, a similar initiative by New York University and CBS, is also lauded for awarding degrees through televised courses (Debter, 2014). 20 1957 The Institut Européen d’Administration des Affaires (INSEAD) created the first one-year MBA program (DeBevoise, 2017; OMBA, 2022). 1962 HBS started enrolling women in their MBA program (OMBA, 2022; Harvard Business School, n.d.). 1984 The National Technological University became the first accredited online uni- versity, funded by corporations such as IBM, Motorola, and HP. It used televi- sion to provide educational courses to employees (Debter, 2014). 1987 The first online MBA program was introduced in 1987 by Aspen University (OMBA, 2022). 1989 AACSB accredited the first online MBA at Auburn University (DeBevoise, 2017; OMBA, 2022). 2003 The US government reports that 41% of homeschoolers participate in distance learning, with 20% using TV, video, or radio, 19% using the Internet, and 15% taking mail correspondence courses (Debter, 2014). 2012 Elite universities, including Stanford, Harvard, and MIT, are rapidly developing and releasing massive open online courses (MOOCs) accessible online and free for students. Some of the most popular MOOCs have enrolled tens of thousands of students worldwide (Debter, 2014). 2019 COVID-19 was discovered on December 19th in Wuhan, China (CDC, 2021). 2021 Online MBA programs now have more students than their in-person counter- parts (OMBA, 2022). 21 2.2 Breaking boundaries: The rise and progression of distance learning and MBA programs 2.2.1 The shift from traditional MBAs to emerging educational trends Despite their widespread appeal, MBA programs have faced scrutiny over the years. Crit- ics have pointed out gaps in the curricula, a mismatch between taught skills and those needed in real-world managerial positions, and general fatigue associated with the tra- ditional MBA model. Mintzberg (2003) delivered one of the most pointed critiques, arguing that MBA pro- grams often miss the mark when producing effective managers. Instead of offering prac- tical management training, these programs tend to gravitate towards theoretical knowledge, which might not always translate to practical managerial skills. In his book, Mintzberg emphasizes the difference between mastering managerial practices and the abstract knowledge that MBA programs often prioritize (Mintzberg, 2003). Further supporting this perspective, Pfeffer and Fong (2002) highlighted concerns about MBA education's true success and relevance. They argued that while MBA degrees might offer some advantages regarding initial job placements and salary hikes, their role in producing competent and successful managers in the long run remains questionable. This is because managerial roles often require competencies not sufficiently covered in MBA curricula (Pfeffer & Fong, 2002). Bennis and O’Toole (2005) echoed similar sentiments, pinpointing a vital issue with busi- ness schools: they have strayed too far from their practical roots. The authors believe that business schools, while attempting to pursue academic respectability, have priori- tized scientific research over practical applicability. As a result, graduates often find themselves armed with theoretical knowledge but not necessarily with the skills they need to tackle day-to-day challenges (Bennis & O'Toole, 2005). 22 Rubin and Dierdorff's (2009) research further illustrates this gap. Their study assessed the alignment of MBA curricula with the competencies required in managerial roles. Findings suggest that while specific competencies like decision-making and leadership are adequately covered, other vital skills are often glossed over. This misalignment only serves to amplify the challenges MBA graduates face in the real world (Rubin & Dierdorff, 2009). Finally, Datar, Garvin, and Cullen (2011) emphasized the urgent need for change. They argued that business education stands at a crossroads and must undergo significant transformations to remain relevant. The authors stressed that the current target is a re- vised MBA curriculum, more aligned with the actual demands of leadership roles (Datar, Garvin, & Cullen, 2011). In conclusion, while MBA programs have paved the way for many to delve into manage- ment, there is a growing consensus that these programs need restructuring. The tradi- tional model focuses more on theory than practice, which results in fatigue and calls for a more balanced approach to business education. 2.2.2 Ensuring access to MBA education for underprivileged students: The promise of digital platforms in developing countries Equal access to quality education, including MBA programs, remains a challenge. Socio- economic disparities often create barriers that limit educational opportunities for un- derprivileged students. This is particularly pronounced in developing countries, where challenges include financial constraints, inadequate educational infrastructure, and re- stricted access to quality resources (Altbach, Reisberg, & Rumbley, 2009). Online pro- grams offer a promising solution to bridge this gap, especially in poor regions. Brown and Adler (2008) emphasize the potential of online education to democratize learning. They illustrate how online platforms, supported by Learning Management Systems (LMS), AI, and adaptive learning technologies, can offer a cost-effective alternative to traditional MBA programs, making them more accessible to a broader audience (Daniel, 2016). This democratization process is especially crucial for developing countries, where traditional MBA program costs often become prohibitive due to high tuition fees and related 23 expenses such as travel and living costs (Knight, 2011). Over the past decades, there has been a substantial transformation in response to the mass demand for higher education. Global tertiary education enrollment has risen, but developing countries continue to trail behind. Significant financial barriers exist for students in these regions, as evidenced by the tertiary gross enrollment ratios (see Figure 2) (Altbach, Reisberg, & Rumbley, 2009). Figure 2. Tertiary gross enrolment ratio by geographical region, 2000 and 2007, post- secondary education (Altbach, Reisberg, & Rumbley, 2009) Another formidable challenge for developing nations is the lack of adequate educational infrastructure such as advanced classrooms, libraries, and technological labs (Marginson, The Confucian Model of Higher Education in East Asia and Singapore, 2011). By harness- ing the power of LMS, AI, and adaptive learning technologies, online platforms can by- pass these physical limitations, offering students access to top-notch resources and learning experiences irrespective of vocation (Daniel, 2016). The scarcity of qualified fac- ulty in these regions can also be mitigated with AI-driven solutions, allowing students to tap into global expertise without the constraints of geography (Kulik & Fletcher, 2015; Nye, Graesser, & Hu, 2014). 0 10 20 30 40 50 60 70 80 2000 2007 24 However, the integration of these technologies is not without challenges. Potential road- blocks include inconsistent internet access, digital literacy concerns, and data privacy issues (Holmes, Bialik, & Fadel, 2019). Collaborative efforts from educators, technolo- gists, and policymakers are vital to ensure these online MBA programs are not only ac- cessible but also equitable. In conclusion, while the challenges are multifaceted, the po- tential of online platforms, coupled with modern technologies, presents a promising av- enue to democratize access to quality MBA education. Beyond mere recognition, imple- menting actionable measures is crucial to making quality education accessible to all, es- pecially in the developing world. Table 4. Distance Learning and MBA Programs: A Journey of Milestones and Innova- tions Factor Description Forms of Capital Encompasses social, cultural, and symbolic assets (Bourdieu, 1986) Social Capital Focuses on relationships and support networks (Coleman, 1988) Family Influence Role of family in shaping educational choices (Freeman, Brown, & Brown II, 2005) Online Platforms Democratizing access through digital means (Brown & Adler, 2008) Integrated Model of Access Multi-layered influences on education access (Perna, 2006) 25 2.3 Exploring the world of virtual education: A comprehensive look at modern online MBA programs Table 3 displays that online MBA program enrolments exceeded those in on-campus pro- grams in 2021. Although COVID-19 could be a significant factor in this shift, further re- search is required to verify this paradigm. QS.com reported that 82% of European busi- ness schools with online MBA programs expect an increase in international applicants in the coming three years (QS, 2022). Two primary motivations for pursuing an online MBA include the flexibility to balance other commitments and the possibility of working while studying (Kibelloh & Bao, 2014). Notably, there's a trend of younger candidates, a rise in applications from women and underrepresented groups, and an increase in schools of- fering test exemptions—currently, 47% of institutions with online MBA programs provide this (QS, 2022). Distance education enrollment saw an over 90% boost between 2019 and 2022 (Lederman, 2021). However, some data presents a less favorable perspective on online MBAs. Of the insti- tutions surveyed by QS.com, 92% that don't provide an online MBA (74 out of 167) don't plan to introduce one in the next three years. Even though a vast majority adapted to online platforms during the pandemic, many still believe in the intrinsic value of face-to- face experiences in MBA programs. They argue that hands-on learning and in-person interactions form the core value of an MBA (QS, 2022). Given the potential influence of the pandemic on online MBA trends, further rigorous, peer-reviewed research is essential. At the time of this thesis, it's early to make definitive conclusions, but online MBA programs have undeniably found their footing in academia. The subsequent sections will discuss the defining traits of contemporary online MBA programs. 26 2.3.1 Virtual classrooms Online learning or e-learning is an educational approach that relies on the internet and various multimedia tools for instructional delivery (Maddison, Doi, Lucky, & Kumaran, 2017). Its popularity has surged with different terms used interchangeably to denote it. For a more detailed list of these terms, refer to Figure 3. Online education is designed to provide flexibility, enabling learners to access educational materials from any location and at any time through different digital devices and platforms. As mentioned in the previous section, online learning evolved from the concept of distance education, which was initially based on correspondence courses. While the Internet arose, the scope of online learning also expanded, presenting an array of educational resources, and allow- ing better communication between instructors and learners (Means, Toyama, Murphy, Bakia, & Jones, 2010). This type of learning is essentially a virtual form of distance edu- cation with a geographical distance between learners and instructors. Figure 3. An extensive list of terms and concepts that define online education (OpenAI, 2023) 27 Online learning occurs digitally, facilitating interaction between students and teachers using tools like video conferencing, online forums, email, and social media. It operates asynchronously, allowing students to engage with the content whenever they choose, provided they have internet connectivity. Moreover, the burden is on the students to direct their learning, which encompasses setting objectives, tracking their development, and actively seeking instructor feedback (Muilenburg & Berge, 2005). While online learning provides flexibility, catering mainly to those with external respon- sibilities like work or familial obligations (Kibelloh & Bao, 2014), it also broadens the ac- ademic horizon for students. Those residing in remote areas or developing nations might lack access to elite educational facilities but can still enroll in global online courses. How- ever, one cannot overlook specific challenges associated with online learning. The ab- sence of direct, face-to-face communication can sometimes hinder immediate feedback, leading to a sense of isolation (Muilenburg & Berge, 2005). It also necessitates significant self-motivation and discipline due to the lack of set timelines. Technical issues like incon- sistent internet connections or software glitches can further obstruct a seamless learn- ing experience. Different course delivery models have emerged in the realm of online education. There’s blended/hybrid learning, which marries online with traditional instruction. Significant course content is delivered online and supplemented with periodic face-to-face interac- tions. On the other hand, fully online courses function entirely on the internet without physical meetings. Different variations include traditional and web-enhanced courses in- tegrating online tools to enrich classroom instruction (Allen & Seaman, 2011). For an in- depth understanding of these delivery types based on online content percentage, see Table 5. 28 Table 5. Types of courses by delivery method (Allen & Seaman, 2011) Proportion of Content Delivered Online Type of Course Typical Description 0% Traditional A course that does not utilize online technology but presents content through written or oral means. 1-29% Web Facilitated It utilizes web-based technologies to assist and enhance face-to-face instruction, a web-facilitated course. The course may use a course man- agement system (CMS) or web pages to post the syllabus, course mate- rials, and assignments. The primary focus of web-facilitated courses is in-person instruction, with technology as a supplementary tool to sup- port the traditional classroom setting. 30-79% Blended/ Hybrid A blended course refers to a course that combines both online and face- to-face delivery methods, where a significant amount of course mate- rial is delivered online, often through the use of online discussions and a course management system. Typically, blended courses require fewer face-to-face meetings than traditional courses, and the frequency of face-to-face meetings varies based on the course structure and the in- structor’s preferences. 80+% Online A course primarily conducted online, with little to no in-person meet- ings. 2.3.2 Program structure Online MBAs are noted for their flexibility. Students often prefer them because they can complete coursework at their convenience, without mandatory scheduled in-person classes, which suits those juggling other commitments like work and family (Rydzewski, Eastman, & Bocchi, 2010). Furthermore, many such programs allow for rolling admis- sions, breaking away from the traditional academic calendar's constraints. The history of MBA programs provides exciting insights. In the early 1900s, Harvard Uni- versity had a straightforward MBA curriculum consisting of only three courses, with elec- tives as diverse as railway accounting (Herrington, 2010). By the 1950s, the structure of the MBA courses began to stabilize across different institutions. The Association to Ad- vance Collegiate Schools of Business (AACSB) made concerted efforts from 1925 to 29 establish curriculum standards, progressively including subjects like economics, indus- trial management, ethics, and computer science (Flesher, 2007). AACSB’s regulations evolved, with the most notable shift in 1969 when they set clear definitions for core coursework durations and credit hours (Flesher, 2007). The credit hour system marks the academic workload fundamental to American educa- tion. While it's prevalent in the US, Europe employs the European Credit Transfer and Accumulation System (ECTS). An average MBA program in the US is around 60 credit hours, typically spanning two years (Herrington, 2010). On the other hand, European MBA programs demand 90 to 120 ECTS credits, translating to roughly 45-60 US credit hours (European Commission, European Credit Transfer and Accumulation System (ECTS), 2023). The credit hour approach varies, with the US emphasizing classroom instruction hours, while ECTS credits account for all aspects of student work, including classroom hours, reading, and assignments (U.S. Department of Education, n.d.; European Com- mission, ECTS users' guide, 2015) Notably, there are differences in the emphasis of US and European MBA programs. While European courses often dive deeper into theory, US programs prioritize real-world, prac- tical skills. Furthermore, European programs might offer more adaptability in course choices, letting students mold their learning to personal preferences (Mazza, Sahlin- Andersson, & Jesper, 2005). A recent European trend leans towards more affordable one-year MBA programs (60 ECTS). Contrarily, some leading US business schools are aligning with online platforms to offer economical online courses and flexible payment options. These US institutions are also expanding their curricula to encompass subjects like data, analytics, and program- ming, veering away from conventional business teachings. Interestingly, this move to- wards a tailored MBA education style in the US seems inspired by European models (The Economist, 2019). 30 2.3.3 Social presence Online MBA programs have grown in popularity due to their flexibility. A central aspect of these programs is the concept of social presence (SP). The American Psychological Association describes social presence as the feeling of being with another person, espe- cially when interacting in online groups. This essentially means the ability of students to connect with their instructors and peers in online settings. Yet, there are challenges in cultivating SP in online MBA programs (Garrison, Anderson, & Archer, 1999). Online learning environments have significantly changed how education is delivered. This change has made nurturing a social presence in online MBA programs pivotal for student engagement and satisfaction. Social presence is about how participants in online communities perceive each other as real individuals (Garrison, Anderson, & Archer, 1999). This feeling of connection is fundamental for promoting active participation (Smith & Flaherty, 2013). The shift towards online education has been influenced by evolving student demographics, societal changes, and efficiency (Smith & Flaherty, 2013; Allen & Seaman, 2011). Various stakeholders, including governments and startups, are leveraging online models to cater to the growing interest in online education. For instance, the Canadian Federal government and Ontario have initiated projects incorporating technology in higher edu- cation. Additionally, initiatives like edX by Harvard and MIT and platforms like Udacity and Coursera, both rooted in Stanford University, have disrupted traditional educational offerings (Smith & Flaherty, 2013). In the realm of online education, fostering meaningful interactions is imperative. The interactions within these settings are critical determi- nants of learning outcomes. Social presence is essential (Garrison, Anderson, & Archer, 1999), and the environment must encourage positive exchanges (Cleveland-Innes & Emes, 2005). 31 Figure 4. Community of Inquiry framework (Garrison, Anderson, & Archer, 1999) The Community of Inquiry framework, illustrated in Figure 4, posits that effective com- munication and cognitive presence are prerequisites for critical thinking. SP supports this cognitive presence, enriching the learning experience. However, the role of the teaching presence, often seen as the domain of faculty, is equally significant alongside social and cognitive presence (Garrison, Anderson, & Archer, 1999). Before an online course starts, learners often have online identities due to the prevalent use of platforms like blogs, wikis, YouTube, and Twitter. These identities can help set an initial interaction level, making it easier for students to connect within their new online classroom (Smith & Flaherty, 2013). The increasing popularity of online MBA programs underscores the importance of social presence. It is pivotal in ensuring students are en- gaged, satisfied, and can connect meaningfully with one another. The role of Learning Community of Inquiry Communication medium EDUCATIONAL EXPERIENCE Social Presence Cognitive Presence Teaching Presence (Structure/Process) Supporting Discourse Setting Climate Selecting Content 32 Management Systems (LMS) is to enhance this learning experience. The specifics of how LMS does this will be delved into in the following section, but it's worth noting the po- tential of LMS in enhancing SP in online MBA programs. 2.3.4 Learning Management Systems (LMS) The evolution of Learning Management Systems began in the 1990s. Initially, LMS mainly handled administrative aspects of training, like course registration and progress tracking (Watson & Watson, 2007). With advancements in the Internet and technology, LMS started facilitating online learning delivery, management, and assessment (Ally, 2004). In the 1980s, the Integrated Learning System (ILS) was introduced to manage computer- based training, offering functionalities to develop content, track student progress, and offer feedback (Watson & Watson, 2007; Ally, 2004). With technological progress, LMS platforms like Blackboard, Moodle, and Canvas became prevalent (Coates, James, & Baldwin, 2005). These platforms introduced features that improved online learning ex- periences, from course management to content development (Dobre, 2013). The LMS market shifted to 2016, with Canvas’s rapid growth and Blackboard’s market share de- cline being significant changes. Other platforms like Pearson’s LearningStudio and WebCT had notable market movements and surges in smaller systems with limited im- plementations (Hill, eliterate.us, 2016). In recent years, the fusion of AI with LMS has been a notable development. AI-equipped systems can modify instructional content based on learner data (Chi, VanLehn, Litman, & Jordan, 2011). For instance, platforms like Knewton utilize AI for real-time personalized content and feedback (Knewton, 2023). Additionally, intelligent tutoring systems (ITS) have been developed, which leverage AI techniques to mimic one-on-one human tutor- ing (Nye, Graesser, & Hu, 2014). An example is the Cognitive Tutor by Carnegie Learning, which uses AI to offer personalized learner feedback (Koedinger, Anderson, Hadley, & Mark, 1997). Studies have indicated that incorporating AI and adaptive learning into LMS can positively impact learner outcomes (Kulik & Fletcher, 2015; Vanlehn, 2011). The 33 capability of AI-driven LMS to offer more tailored learning experiences has been recog- nized (Daniel, 2016). Figure 5. LMS Market Share for US and Canadian Higher Education Institutions (Hill, eliterate.us, 2016) In summary, LMSs have progressed from essential administrative tools to complex sys- tems enhanced by AI and adaptive learning technologies. This section provided an over- view of LMS’s evolution. The subsequent discussion will explore AI and adaptive learning, focusing on their fundamentals, techniques, and implications for online education. The challenges and prospects of deploying these technologies in online MBA programs will also be addressed. 34 2.3.5 AI and adaptive learning Artificial Intelligence (AI) and adaptive learning technologies are increasingly being rec- ognized in the context of online education. These technologies have been noted for po- tentially offering personalized learning experiences that align with individual learner needs. As online MBA education becomes popular, there's growing interest in under- standing the role and implications of such technologies in this domain. Adaptive learning is an educational method where students receive tailored learning ex- periences (Baraishuk, 2021). AI's role in education has been highlighted through the emergence of tools and applications, such as intelligent tutoring systems (ITS) and adap- tive learning platforms. These platforms are designed to offer instruction tailored to in- dividual needs and provide real-time feedback (Nye, Graesser, & Hu, 2014). Figure 6. AI-Driven Education Cycle (Baraishuk, 2021) AI adaptive learning in education Assesment Providing content Data interaction 35 Adaptive learning utilizes AI algorithms to modify content according to individual learner requirements (Woolf, 2007), described as a pedagogical approach. It factors in prior knowledge, learning style, and pace (Xie, Chu, Hwang, & Wang, 2019). Some studies even indicate higher learner engagement and academic performance with adaptive learning systems than traditional methods (Kulik & Fletcher, 2015). The Cognitive Tutor by Carnegie Learning is a notable example of utilizing AI to offer personalized feedback to enhance problem-solving skills (Koedinger, Anderson, Hadley, & Mark, 1997). However, alongside the potential advantages, there are challenges. Implementing AI and adaptive learning technologies requires vast amounts of quality data to train AI algorithms effec- tively. Ethical issues arise from the immense data collection and its potential misuse, raising privacy concerns (Holmes, Bialik, & Fadel, 2019). Also, employing AI in decisions like grading or admissions introduces transparency and fairness concerns (Baker & Siemens, 2014). In sum, AI and adaptive learning technologies are showing promise in reshaping online MBA education. As discussed in preceding chapters, tools like LMS or AI-AL are vital in broadening access to quality business education. Yet, understanding and navigating these technologies’ challenges is equally critical for building accessible, inclusive learn- ing environments. 2.4 The subscription-based payment model The subscription-based payment model has emerged as a promising solution to improve the accessibility of quality education, particularly in online MBA programs. This model, which involves paying a fixed periodic fee for unlimited access to educational resources and courses, can potentially alleviate the financial burden on students and promote greater participation in higher education (Hill, EDUCAUSE Review, 2012). In this chapter, we will explore the benefits and challenges associated with implementing a subscription- based payment model in online MBA programs and discuss how the integration of LMS, AI, and adaptive learning technologies can contribute to the success of this approach. 36 2.4.1 Benefits of the subscription-based payment model One of the primary benefits of the subscription-based payment model is its potential to make education more affordable for students from diverse backgrounds. By allowing learners to access a wide range of educational resources and courses for a fixed, recur- ring fee, this model can help reduce the upfront costs associated with traditional MBA programs (Wildavsky, Kelly, & Carey, 2011). Additionally, the flexibility of subscription- based plans enables students to choose a payment plan that aligns with their financial capabilities, further enhancing accessibility (Hill, EDUCAUSE Review, 2012). Another ad- vantage of the subscription-based payment model is its ability to promote continuous learning and skill development. As students have unlimited access to courses and re- sources, they are encouraged to explore various subjects and acquire new skills beyond the scope of a traditional MBA program (Wildavsky, Kelly, & Carey, 2011). This enhances the learning experience and contributes to the development of well-rounded profession- als better prepared for the demands of the modern business world. Furthermore, the subscription-based payment model can benefit online MBA programs that leverage LMS, AI, and adaptive learning technologies. Integrating these technologies enables the deliv- ery of personalized learning experiences and real-time feedback, allowing students to make the most of their subscriptions and maximize their learning outcomes (Daniel, 2016). 2.4.2 Challenges of the subscription-based payment model Despite its potential benefits, the subscription-based payment model also presents spe- cific challenges that must be addressed to ensure its successful implementation in online MBA programs. One of the critical challenges is the model’s sustainability, particularly in generating sufficient revenue to cover the costs of developing and maintaining high- quality educational resources and infrastructure (Hill, EDUCAUSE Review, 2012). To ad- dress this issue, institutions may need to explore additional revenue streams, such as partnerships with industry, government funding, or philanthropic support (Wildavsky, 37 Kelly, & Carey, 2011). Another challenge is the potential for reduced student engagement and motivation, as the subscription-based payment model may lead to a perception of lower value for the educational experience (Hill, EDUCAUSE Review, 2012). To counter this, institutions must ensure that they provide high-quality educational content and support services that meet the expectations of students and promote a sense of value and satisfaction (Daniel, 2016). Moreover, implementing the subscription-based payment model may require significant organizational and technological changes for institutions, such as developing new billing systems, course structures, and student support services (Wildavsky, Kelly, & Carey, 2011). Institutions must be prepared to invest in the necessary infrastructure and re- sources to support the transition to a subscription-based model and ensure its long-term success. 2.5 Synthesis Throughout the literature review, we have explored various facets of online MBA educa- tion, focusing on leveling the playing field and enhancing accessibility for learners from diverse backgrounds. The journey began with examining the origins and progression of distance learning and MBA programs, highlighting the transformation brought about by technological advancements and the emergence of virtual education. The discussion then developed into the intricacies of modern online MBA programs, encompassing as- pects such as virtual classrooms, program structure, social presence, and the critical role of LMS in delivering seamless educational experiences. As we ventured further into the realm of AI and adaptive learning, we discovered the potential of these technologies in addressing some of the challenges developing countries face in accessing quality busi- ness education. Through the democratization of education, LMS, AI, and adaptive learn- ing have the power to break down barriers and create more inclusive, equitable, and effective learning environments. 38 The final section of the literature review examined the subscription-based payment model as a potential solution to enhance the accessibility of online MBA education. By discussing the benefits and challenges of this model, we shed light on the importance of balancing financial sustainability and providing affordable, quality education for all. Hav- ing laid the foundation for understanding the significance of AI, adaptive learning, and subscription models in making online MBA education more accessible, we now prepare to delve deeper into these concepts’ practical implications and real-world applications. In the upcoming sections, the author will present the results of interviews with experts in the field, providing valuable insights and perspectives on the convergence of these various components. By synthesizing the knowledge gained from the literature review and expert opinions, we can envision a future where online MBA education becomes a catalyst for social and economic development, leveling the playing field for learners across the globe. 39 3. Methodology Research objectives, the nature of the topic, and the type of data required to answer the research questions guide the methodological choices in a research study (Creswell, 2018). This study does not only aim to ascertain whether AI-adaptive learning tools and subscription-based pricing strategies can make online MBA programs more accessible, especially to developing regions, but also seeks to explore how and under what condi- tions these tools can be best utilized. Such an inquiry needs a research approach that is qualitative, exploratory, and interpretive in nature. Thus, a qualitative research method- ology was deemed most suitable for this study. Qualitative research focuses on the “why” and “how” of decision-making rather than just “what”, “where”, and “when” which are often the focal points of quantitative re- search (Merriam & Tisdell, 2015). This approach allows for the exploration of nuanced perspectives, the contextualization of experiences, and the understanding of phenom- ena in depth. Given the complex, multifaceted nature of technology in education and the intricacies of pricing strategies, a qualitative approach offers the depth required to capture the complexity of the issues. Semi-structured interviews, in particular, were chosen as the primary data collection tool. These interviews balance the structure of standardized questions and the flexibility to delve deeper into specific areas based on the interviewee’s responses (Brinkmann, 2014). This flexibility is especially beneficial when dealing with experts and academics, as they can offer insights or introduce nuances that might not have been anticipated at the out- set of the research. It provides an avenue to gather first-hand experiences, expert opin- ions, and insights that quantitative data might overlook. Furthermore, the semi-struc- tured nature of the interviews allows the researcher to establish a conversational tone, fostering an environment where participants feel free to share their insights, experiences, and concerns openly and reflectively (DiCicco-Bloom & Crabtree, 2006). 40 In conclusion, the qualitative research approach, with its emphasis on depth and context, combined with the adaptability and conversational nature of semi-structured interviews, offers an effective strategy for achieving the objectives of this study. 3.1 Research design The process of research could be compared to piecing together a puzzle. While quanti- tative methods can provide broad snapshots, offering vast data sets and general patterns, they might inadvertently neglect intricate details comparable to missing puzzle pieces. Qualitative research, on the other hand, fills these gaps, shedding light on the complex nuances and subtleties that are crucial for a comprehensive understanding (Creswell, 2018). Such an approach gives voice to those finer, often overlooked details, adding depth and dimension to the broader research narrative. Semi-structured interviews play an essential role in qualitative research, as they can fa- cilitate a dynamic conversation flow. Unlike structured interviews that rigidly adhere to pre-set questions, semi-structured interviews allow the respondent and researcher to organically navigate through the topic, bringing forth insights that might have been un- intentionally left behind in a more structured setting (Smith J. A., 2015). This fluidity in conversation can often lead to the emergence of unexpected yet critical viewpoints. Such a design is beneficial when the subject matter is multi-layered, as when exploring AI-AL tools for online MBA programs and subscription-based pricing. Furthermore, as Smith (2015) stated, the essence of qualitative research is to “under- stand the world from the perspective of its participants, leading to a deeper understand- ing.” By utilizing semi-structured interviews, researchers are granted the flexibility to adapt, ensuring that emergent ideas, even those initially left in the periphery, are given the attention they deserve, providing a fuller, richer picture of the research landscape. 41 3.2 Participant selection In qualitative research, the success often hinges on the sampling techniques employed, given that they influence the depth and richness of the data collected. For this study, purposeful sampling was utilized to ensure that the participants were information-rich cases, aligning with Patton's (1990) assertion that this method focuses on selecting indi- viduals who can provide deep insights due to their knowledge and experience. This ap- proach ensured that the interviewees were knowledgeable and authoritative in their re- spective fields (Patton, 1990). 3.2.1 Criteria for selection Central to the participant selection process was the aim to identify the most peer-re- viewed and frequently cited authors within each primary topic. A focus on these indica- tors was adopted as they often signify expertise, influence, and academic contributions to a field (Harzing & Alakangas, 2016). Authors with extensive peer-reviewed publica- tions and citations have typically introduced innovative ideas, conducted pioneering re- search, or provided significant commentary on existing findings. Also, practical experi- ence was considered to create a balance among the interviewees. Pivotal to this research is to provide insights for the online MBA providers. Consequently, for instance, two par- ticipants are such organizations’ CEOs. 3.2.2 Sampling strategy Given the vast academic landscape and the richness of the explored subject areas, iden- tifying potential participants necessitated a broad outreach approach. Approximately 50 invitations were dispatched via email to potential participants. This strategy aligns with Dillman, Smyth, and Christian’s (2014) recommendation for achieving meaningful partic- ipation through extensive outreach. The resultant pool of nine interviewees can be clas- sified as a “purposive sample”. Purposive sampling, unlike random sampling, involves selecting participants based on specific characteristics or qualities they possess, ensur- ing they are exceptionally knowledgeable about the topic in question (Palinkas et al., 42 2015). By targeting authors with significant peer-review and citation contributions, a sample rich in insights and deep in expertise was curated. Simple logic was utilized to select participants with industry expertise. The aim was to contact the most prominent MBA providers possible, of which two executive education organizations in Finland an- swered the call. 3.2.3 Participants profiles In qualitative research, participant confidentiality is paramount, especially when the in- terviewees are notable figures within their fields, as it could make them easily identifia- ble. Nicknames were used for each participant to ensure privacy and confidentiality. Spe- cifically, the nine participants will be Alpha, Bravo, Charlie, Delta, Echo, Foxtrot, Golf, Ho- tel, and India. This approach aligns with best research practices, ensuring that the par- ticipant’s identity is protected and the richness and authenticity of their insights are re- tained (Saunders, Kitzinger, & Kitzinger, 2015). Understanding the importance of confidentiality in research, the author has taken delib- erate measures to protect the participants’ identities. However, it is noteworthy that while keeping their identities concealed, a thorough profile for each has been put to- gether. These profiles, found in Table 6, are detailed yet carefully crafted to avoid identi- fying information. They offer a deep dive into the participant’s academic history, areas of expertise, and other relevant details without jeopardizing their anonymity. By choosing to take this approach, the study strikes a crucial balance. On one hand, it ensures that the research is credible and trustworthy. Conversely, it emphasizes respect- ing the participants' rights and protecting their personal information. 43 Table 6. Codified participants’ profile: from Alpha to India Participant Background Alpha D.Sc. (Econ), Board member of an Executive Education company a well-respected scholar in the field of manage- ment. Bravo Ph.D. Economics and Education. One of the most cited scholars in the field of business schools and industry-spe- cific strategies. Charlie Ph.D. Industrial Engineering and Management. CEO of a Finnish mid-tier Executive Education company/provider. Delta Professor Emeritus, a former editor-in-chief of the Interna- tional Journal of Higher Education. A highly cited author of higher education topics, including several historical per- spectives of the field. Echo MSc, CEO of a top-tier Executive Education company/pro- vider in Finland Foxtrot D.Phil. Science and Technology Policy Studies, Vice-rector of a Finnish university, innovation expert, prolific author, and global innovation advisor. Gulf Ph.D. in Computer Science and Analytics. A top-cited scholar and associate professor in the field of learning-ana- lytics. Hotel Ph.D. in Cognitive Science with extensive experience of re- search and teaching in Human-Technology Interaction. India Ph.D. in Economics (Oxford). An independent development economist, World Bank leader in African affairs, and inno- vator in development policy. 44 3.3 Data collection The intricacies of data collection are vital to the integrity of any qualitative study. This section delves into the data collection process of the present research, providing insights into its design, execution, and underlying rationale. 3.3.1 Development and structure of the interview guide All interviews were conducted via Zoom. This platform was specifically chosen due to its integrated artificial intelligence capabilities that facilitate audio transcription to text, of- fering both convenience and accuracy. Each participant got a custom set of questions. The aim was to review their contributions to academia and create questions to serve as conversation starters. For the academic participants, a meticulous review was under- taken wherein their topmost peer-reviewed and frequently cited articles were amassed from Scopus. These articles were then segregated based on their direct relevance to the study. A comprehensive review was conducted for articles pertinent to the thesis’s core themes. For those deemed tangentially related, only the abstracts were perused. This selective reading strategy enabled a thorough yet time-efficient examination (Holloway & Todres, 2003). After this review, tailored questions were crafted for each participant, aligning with the thesis’s research question (RQ) and objectives. Each set was methodically organized in a PowerPoint document to ensure a seamless flow during the interview process. Charlie and Echo were not scholars but instead fell into the category of practitioners. Both are CEOs of companies that might implement the findings of this thesis, so their real-world experience was highly valued. The questions for these two participants were also tai- lored to their personal and institutional capabilities. See Appendix 1 to review all the set of questions for every individual interview. 45 3.3.2 The process of conducting interviews The interviews followed a systematic pattern, ensuring consistency in the research pro- cess. Upon receiving participants’ consent, they were emailed a specific set of questions. This preemptive step was rooted in the belief that foreknowledge of the questions en- hances the depth and thoughtfulness of responses (King, Horrocks, & Brooks, 2019). Be- fore every interview, a brief 10-minute introduction regarding the study's background was presented. Each participant was heartily thanked for their invaluable contribution following the query phase. Key to the ethical considerations was the explicit request for permission to record and transcribe the session using Zoom's AI capabilities. Unani- mously, all participants agreed. Table 7. Overview of Interview Parameters 3.3.3 Rationale for chosen interview approach and its advantages Central to this study’s methodology was the adoption of a semi-structured interview for- mat. Such a format, characterized by a blend of predetermined questions and the flexi- bility to incorporate spontaneous ones, offers a dynamic and adaptable conversation structure (DiCicco-Bloom & Crabtree, 2006). This ensures the dialog is rooted in the re- search’s primary aims while being receptive to unforeseen yet essential insights that might emerge during the discussion. It lends itself to the depth, adaptability, and granu- larity that this study sought, effectively tailoring each interaction to the unique expertise and perspectives of the interviewee. Duration Forty-five minutes to an hour. Setting The interviews were conducted online and facilitated through Zoom. Number of Interviews A total of 9 interviews were conducted. 46 3.4 Data transcription Data transcription is a crucial phase in qualitative research, where participant’s spoken words are turned into written records. This step ensures the integrity of the data while providing a clear framework for analysis (Bailey, 2008). Upon the completion of each interview, the recording and its corresponding raw transcript were made available within the Zoom platform. However, it was observed that the initial AI-generated transcripts had an accuracy rate of about 60-70%. Such discrepancies could be attributed to various factors, including the participant’s fluency in English and the inherent limitations of AI- based transcription tools. Given this, the researcher meticulously reviewed each record- ing, making the necessary corrections to ensure that every transcript mirrored the spo- ken words with 100% accuracy. This revision process was not uniform; it took 1 to 3 hours per interview. The fluency of the participant significantly influenced the time and effort needed. Native or fluent English speakers generally yielded better initial transcripts, while the transcrip- tion required more intensive refinement for those whose first language was not English. This observation underscores a broader issue within automated transcription services: their capacity to handle diverse accents, dialects, and speech patterns may not always be optimal. After the transcription refinement process, the amended transcripts were transferred to Notepad on Windows. This platform was chosen for its simplicity and ease of use. Each dialogue was formatted for clarity, ensuring a streamlined format to facili- tate subsequent reviews and analyses. 3.5 Data analysis A critical phase of this research involved dissecting the vast qualitative data derived from the interviews to extract meaningful insights directly aligned with the RQ and the thesis objectives. The method adopted for this meticulous task was Content Analysis (CA), a systematic qualitative research technique used extensively for interpreting and summa- rizing textual information. 47 CA enables the systematic examination of communication material. It aids researchers in identifying, quantifying, and interpreting recurring patterns or themes within the text. Initially employed for textual content in media, it has gained prominence in diverse re- search fields, especially for analyzing and condensing voluminous qualitative data like interview transcripts (Hsieh & Shannon, 2005). Figure 7. Advantages of Content Analysis for Interview Interpretation (Hsieh & Shannon, 2005) The primary step involved creating summaries of each interview while focusing on high- lights of significance to the study. Each summary was then analyzed, particularly as- sessing how the shared perspectives contribute or diverge from the resolution of the RQ and the objectives of the thesis. While this section outlines the analysis method and its application, readers should anticipate a comprehensive examination in the “Findings” chapter. This upcoming section will delve deeper into the nuanced insights, dissecting each interview’s contribution in the broader context of the research’s goals. Co nt en t a na ly si s Provides a structured methodology to analyze the interviews systematically. Facilitates the extraction of crucial concepts and themes pertinent to the study's core objectives. Adeptly handles the challenge of distilling lengthy interview transcripts into concise and relevant insights. 48 3.6 ChatGPT as a research assistant while performing content analysis In the evolving domain of qualitative research, choosing tools and techniques is pivotal for maintaining the analysis's rigor, depth, and unbiased nature. The digital transfor- mation has equipped researchers with various software platforms to facilitate qualitative content analysis. These software options provide an array of functionalities, ranging from coding assistance to thematic categorization. However, as the digital frontier ex- pands, so do the capacity and capabilities of artificial intelligence. ChatGPT emerges as a revolutionary tool in this context, providing unprecedented advantages over traditional qualitative analysis software. Table 8. The Rationale for Incorporating ChatGPT as a Research Assistant in Content Analysis Reasons for Selection Explanation Depth and Breadth of Knowledge ChatGPT, based on OpenAI’s GPT-4 architecture, is trained on vast amounts of text, granting it an extensive knowledge base. It can con- textualize data more comprehensively than other tools, potentially leading to deeper insights. Objectivity and Unbiased Coding Human researchers, despite their best efforts, come with their own biases. Using ChatGPT, the coding process aims to be more objec- tive, reducing potential human bias that might tint the analysis. Flexibility and Adaptability Unlike many other software options confined to their initial pro- gramming, ChatGPT can adapt to the researcher's needs, answer queries in real-time, and provide clarifications where needed. State-of-the-Art Technology It would be careless to ignore the monumental advancements AI has achieved. By choosing not to employ a tool as powerful as ChatGPT, we might inadvertently limit our analysis's potential depth and breadth. In an era where technology continually redefines research paradigms, using the most advanced tools is not just a choice; it's an ethical imperative to ensure the highest quality of research. The motivation behind using ChatGPT is to obtain the main ideas discussed in every in- terview in bullet points over predetermined areas of focus carefully selected. These bul- let points were then used to write the final analysis. For a more detailed understanding 49 of how ChatGPT was integrated into the content analysis process, an example of a prompt used for coding purposes and the answer from ChatGPT has been provided in Appendix 3. In conclusion, the integration of ChatGPT as a research assistant is a testa- ment to the fusion of traditional research methodologies with the power of AI, ushering in a new era of qualitative research. 50 4. Findings 4.1 Introduction to the findings This chapter unveils the rich insights obtained from detailed interviews with leading ex- perts in the fields covered in this study. Through these conversations, a deep dive was performed into the multifaceted aspects of AI-adaptive learning tools, subscription mod- els, and accessibility of online MBA education. Central to the findings is the content anal- ysis of each interview. This method systematically breaks down the invaluable wisdom shared by each participant, offering clarity and depth to their thoughts. The names of our renowned participants are confidential, but their insights ring clear and profound throughout this section. The author remains deeply grateful and, admittedly, awed by the opportunity to interact with such a remarkable group of professionals. Jokingly, there is wonderment if such a star-studded gathering could ever happen again, or if it was a stroke of rare luck. Up ahead, interviews will be methodically dissected, each section corresponding to a central theme of the thesis. These themes serve as lenses, offering focused perspectives that answer the RQ. Readers can anticipate a clear walkthrough of the analysis process, an in-depth exploration of each theme, and how these insights relate to existing litera- ture. In short, this chapter is a guided journey through expert opinions, blending estab- lished knowledge with fresh perspectives. It is a collective effort to add another layer of understanding to the subject. As we embark on this section, prepare for a deeper dive into the heart of the study. 4.2 Content analysis Content analysis is a research technique used to quantify the content of textual infor- mation systematically and objectively. This method enables researchers to sift through large volumes of data to identify prevalent patterns and themes. According to Krippen- dorff (2019), content analysis “is a research technique for making replicable and valid 51 inferences from texts, or other meaningful matter, to the contexts of their use” (Krippendorff, 2019). For this study, content analysis was employed to scrutinize each interview, transforming narratives into structured insights that echo the objectives of the RQ. Krippendorff’s (2019) book was also used as the primary parameter presented to ChatGPT to code the transcripts. It is essential to mention that the data obtained from ChatGPT is as good as the prompt used. This systematic approach summarized each par- ticipant's content analysis insights in a table. These tables present distilled and coherent findings from each interview, offering readers a clear pathway to understanding the heart of each dialogue concerning the study's goals. Refer to Appendix 2 for a review of each content analysis table. During the interviews the three main topics of this study were widely discussed. The first pattern identified is that AI-AL has emerged as a pivotal tool in reshaping the educational landscape, especially in the context of online MBA programs. The interviews reveal a consensus on the transformative potential of AI-AL, especially in customizing curricula to meet individual learner needs. Many participants alluded to the limitations of tradi- tional, rigid, and standardized educational models, hinting at the vast potential of AI to offer curriculum customization and language translations, ensuring content relevance and comprehension. Table 9. Analysis overview of the three main topics of this study Topic Instances identified Artificial Intelligence and adaptive learning (AI-AL) 31 Subscription-based pricing strategy 21 Accessibility for developing regions 20 Moreover, the discussions frequently circled back to the power of AI in bridging the gap between Western-centric educational models and the unique challenges, needs, and so- cio-political landscapes of developing regions. The emphasis on mutual learning further 52 underscores the importance of leveraging AI to facilitate a bi-directional flow of knowledge, moving away from a colonial, one-sided teaching approach. Another pattern identified is that cost barriers are prominently featured in the narratives, with participants consistently highlighting the financial impediments faced by students in developing regions. This emphasis on cost barriers implicitly supports the idea of a subscription model as a viable solution to make MBA education more affordable. By piv- oting to subscription-based models, online MBA programs can offer a flexible and eco- nomically feasible solution, opening doors to a broader demographic. Such a strategy democratizes access to quality education and aligns with the evolving consumption pat- terns of the digital age, where subscription models are increasingly favored (Wildavsky, Kelly, & Carey, 2011). Figure 8. Broad topics and their mention frequency in the interviews. A subsequent pattern is that accessibility for developing regions is a multifaceted chal- lenge that transcends mere financial considerations. While cost is a significant barrier, the socio-political landscape, language, and the historical context of education being an 0 1 2 3 4 5 6 7 Access and Barriers Educational Models and Quality AI and Technology Subscription and Pricing Cultural and Socio- political Implications Mention frequency 53 export from dominant Western regions further compound the issue. The interviews re- vealed a pressing need for more inclusive curricula, which not only aligns with global perspectives but also caters to the diverse socio-political and cultural nuances of devel- oping regions. There is a palpable call for innovative strategies that prioritize localized experiences, academic flexibility, and cultural sensitivity. Immersing students in real- world international settings, such as experiential learning in Peru, was frequently men- tioned as a holistic educational model. Figure 9. Interviews buzzwords 0 10 20 30 40 50 60 70 80 AI Learning Education Tools Online MBA Potential Regions Developing Model Subscription Programs Challenges Need Adaptive Based Approach Cultural Implications Frequency of appereance during the interviews 54 In synthesizing the insights from the interviews, it’s evident that integrating AI-AL and subscription-based pricing models is critical to revolutionizing online MBA programs for developing regions. AI-AL can address the curriculum and language challenges, en-suring content relevance, while subscription pricing can dismantle financial barriers. However, institutions must go beyond these solutions for a truly inclusive and global MBA program, embedding academic flexibility, cultural sensitivity, and real-world ex-periences at the heart of their offerings. Only then can online MBA programs be genu-inely accessible, feasible, and enriching for students from developing regions. 4.3 Theme-specific analysis 4.3.1 AI-AL The interviews show that AI-adaptive learning plays a pivotal role in the future of online MBA programs. Each participant brings unique perspectives that interlace to form a com- prehensive understanding of this theme. Alpha discusses the flexibility and segmenta- tion of the market in online MBA programs, stating, "The demand side and the challenges of differentiating between those who want an MBA and those who merely want profes- sional development." Charlie highlights, "This AI word is now becoming part of our daily lives... I see that there are many opportunities to enhance the quality of these training programs." From an educational export background, Echo underscores that developing regions often employ mechanical systems. Echo mentioned, "Online education in devel- oping regions speaks to a different audience." This sentiment parallels Foxtrot’s empha- sis on tailoring learning to individual needs, with Foxtrot stating, "The main benefit in general for higher education is that you can personalize the learning experience." But while AI’s potential is clear, so are its limitations. Gulf delves into the delicate balance between AI’s prowess and inability to replace the genuine human social aspect of learn- ing, emphasizing "The value of personal feedback and the limitations of AI in providing that." This sentiment echoes Foxtrot’s emphasis on the irreplaceable value of personal feedback. Hotel takes it a notch further, discussing the emotional implications of AI, 55 suggesting that although AI can personalize learning, it might also inadvertently make students feel constantly observed. The many views from the interviews show how AI is used in education. Also, it can be discerned from the conversations that AI is no longer just a tool; it’s a potential game-changer but requires sensitive implementation to ensure that the “human touch” in education is not lost. 4.3.2 Subscription-based pricing models The subscription-based pricing model for online MBA programs emerges as a significant topic of interest across the interviews. The participants view its feasibility, strengths, and challenges through different lenses. Bravo hints at the subscription model’s adaptability stating, "Subscription models could also work for organizations who sponsor employees to attend. Potentially a subscription-based price model could work... You have to have some value-added components beyond the education that's being offered." Echo em- phasizes its potential to make programs cost-effective, noting, "online education is obvi- ously very scalable and pairing it with subscription can help the scalability." Foxtrot pro- vides a nuanced perspective, delving deep into balancing the model’s price and reputa- tion, mentioning, "Online programs... will compete on reputation to some extent the per- ception of quality, and then, especially price." India circles back to this theme, emphasiz- ing the need for a flexible pricing model in developing regions. India and Echo highlight the importance of collaboration by engaging in local partnerships. The consensus seems to be that while the subscription model offers great promise regarding accessibility and affordability, it is not without its challenges. A one-size-fits-all approach might not work, and a nuanced, region-specific strategy is the key. 4.3.3 Accessibility in developing regions Accessibility in developing regions is the third most discussed theme, mentioned in every interview with varying emphasis. Bravo and Charlie’s insights indicate the challenges and opportunities of technology adaptation in different regions. Their focus on localizing con- tent to match cultural nuances underscores the need to customize rather than generalize 56 solutions. Bravo stated “Students, at least in the US, still want some form of face-to-face. They want the flexibility that online can offer, but they want some face-to-face compo- nents while this might not be the case in Africa.” Echo and Foxtrot further discuss the importance of accessibility, touching on different facets like differently abled inclusivity and cultural barriers. Echo mentions, "There are cultural challenges. There are different customs from place to place that could affect the outcome of learning, but not so much the access." Especially in regions like the Middle East, Foxtrot suggests that cultural ex- pectations might need a hybrid learning model. India, with its leadership role in African affairs, brings invaluable insights. India delves deep into the intricacies of making online MBA programs accessible in developing re- gions, pointing to economic contexts, infrastructural challenges, and the necessity of un- derstanding cultural nuances. India’s emphasis on forging local partnerships echoes the earlier sentiments, hinting that local collaborations might be the “secret sauce” to mak- ing online MBAs genuinely accessible. This can be appreciated when India states, “The key for you is to have really solid partners.” In conclusion, accessibility is about providing content, understanding, adapting, and collaborating. The richness of insights from the participants underlines the multifaceted nature of this challenge and suggests an inclu- sive and innovative way forward. 4.4 Interlinking or overarching observations 4.4.1 The intersection of AI and accessibility AI’s potential for adaptive learning was primarily recognized as a beacon of hope for in- creased accessibility. For instance, Echo touched upon the mechanical systems used in developing regions, suggesting that AI could modernize these systems. Yet, with Hotel’s perspective on AI’s emotional implications and the idea of students feeling constantly watched, there's an inkling that accessibility is not just about reaching more people but ensuring they feel secure and comfortable in their learning environments. This 57 convergence suggests that while AI can bridge accessibility gaps, its application needs sensitivity to regional cultural, emotional, and social nuances. Table 9. Voices from the field: Summary table of the theme-specific analysis Theme Key Insights AI-AL • AI-AL plays a pivotal role in online MBA programs. • AI-AL offers flexibility, segmentation, and personalization. • AI-AL has limitations, especially in replacing the human touch in education. Subscription-based pricing models • Subscription models are adaptable and can be cost-effective. • They offer potential for scalability. • It could provide a nuanced, region-specific strategy. Accessibility in developing regions • Need to customize solutions based on cultural nuances. • Importance of understanding and adapting to cultural barriers and expectations. • Local partnerships are crucial for genuine accessibility. 4.4.2 Pricing models and developing regions The subscription-based pricing model stands out as an avenue to democratize education. None of the participants provided an example of another pricing tool that could be as effective as a subscription model. With Echo and Foxtrot emphasizing cost-effectiveness, and India stressing the need for flexible pricing in developing regions, it becomes clear that this model can be instrumental in increasing accessibility. However, it's not a straightforward solution. The consensus hints at a need for regional customization, sug- gesting that understanding local economic landscapes is crucial for the success of such models. 4.4.3 AI’s role in pricing While AI’s adaptability in learning was a primary point of discussion, its potential impli- cation in subscription-based pricing models wasn’t directly mentioned but can be in- ferred. AI can dynamically assess regional preferences, economic climates, and user 58 behaviors to suggest region-specific pricing strategies. The contributions of particip