$5M to Khan Academy is a donation that Elon Musk made few days ago, as per the announcement of Sal Khan, the founder of Khan Academy (2nd below video). Donating $5M to Khan Academy nowadays within the current severe financial conditions that world is facing looks weird, even if it is made from the richest person in the world (1st below figure). Is it worth to give $5M to Khan Academy ?! Why only Khan Academy? The Academy is a global educational online non-profit organization whose mission is to educate the whole world, as per the 2nd below figure. Therefore, Khan Academy has succeeded to become a global leader in the online educational market. Besides, the noble mission of the academy, as well as the generous donation of Elon Musk, prove the importance of sustainable business and marketing. Businesses should not care only about the development of their own operations and customers, but also the prosperity of future generations socially, environmentally, and economically. This session discusses global, competitive, and sustainable marketing: the topics of the last Part (4) of Marketing 2018 Book (last below figure). It is the 1st book in the 2nd Year Program of Books within the service of Global English Management & Leadership Books in your channel Management with Merits (MANWIM) – Manage to Prosper. This session concludes Marketing 2018 Book. To download the associated presentation with this session, kindly go to the video at our YouTube Channel and click on the appropriate link in the description section below the video.
Global and Competitive Marketing : Why $5M to Khan Academy Only?
The donation of $5M to Khan Academy from Elon Musk enhances the importance of global business and marketing. Elon Musk, the founder and CEO of Tesla and SpaceX, is a global person who leads global organizations. To enhance his global approach in business and sustainability, Musk established his profitable fund (Musk Foundation) in 2002 to support global initiatives in science, technology, and other fields that develop future generations. This foundation was the institution that donated the $5M to Khan Academy, the global online educational and learning institution (1st below figure). Khan Academy does so because of the global need for each person to “tap into their potentials”, as per Sal Khan, to discover themselves, and utilize their capabilities. This global need requires specific wants that must be tailored to our levels, cultures, languages, and preferences. The academy responds to these global wants by providing free online global education in several subjects and majors for different levels (Kindergarten to University) in different languages via variety of global online platforms (2nd Figure Below).
Therefore, the Academy practices successful online education where the organization provides global value that fulfills the needs and wants of global customers. In today’s global marketplace, it is difficult not to find any area in the marketing process where global or international issues are not of concern. Thus, international marketing is an integral marketing aspect of all companies, even if they don’t operate internationally. The 1st below figure provides some major marketing decisions that have international dimensions. In Khan’s Academy, the approach was to serve the whole globe. Sal Khan said in his above video when he was talking about the Academy’s mission: “Is this mission too big to actually try to educate all of humanity?!” In this channel, we will discuss international and global business in general, including marketing, in one of our future books (last below figure).
Marketing is based on fulfilling customers needs and wants by providing superior value that exceeds what competitors do. Thus, it is crucial to understand and analyze competitors and the competitive marketing environment. The primary objective of the analysis is to know the strengths and weaknesses of the competitors in order to find at least one competitive area where the company can provide sustainable competitive advantage better than all competitors. In a previous session (below video), we discussed competition and competitors analysis within the 2nd book (Entrepreneurship 2016) in the 1st Year Program of books. Based on the competitive position of the company, it can serve as a market leader, market challenger, market follower, or market nicher, as per the below figure. Each of these roles have their own business and marketing strategies that they use to maximize their competition and utilize their strengths. Definitely, Khan Academy is a market leader in the online educational market with more than 120 million registered users in their online courses and 6.34M subscribers in their YouTube Channel as shown in a previous figure.
Sustainable Marketing – $5M to Khan Academy Enhances Global Sustainability
Sustainability is the strongest and most convincing reason for donating $5M to Khan Academy because the Academy and the donors believe in the importance of the prosperity and development of future generations. In Sal Khan’s video embedded above, he noted that the Academy’s educational efforts satisfy the need at which “future Elon Musks of the world are also able to tap into their potential”. Sustainable businesses and marketing take responsible actions to thrive and prosper the future generations economically, socially, and environmentally (1st below figure). Sustainability is also evident from the huge amount of global support that the academy receives, as per the 2nd below figure. Thus, it is not only the $5M to Khan Academy via Musk Foundation, but also several worldwide contributions. Furthermore, Musk Foundation does not only support educational initiatives, but also plenty of sustainable initiatives and projects as shown in the last below figure. Finally, it’s important to know that such donations and the sustainability business approach are also prosperous for the businesses themselves because they reflects responsible public image about the firms which in turn increases its customer base, market share, and profits.
Sustainability of Management with Merits (MANWIM) Channel
Sustainability is also at the heart of the business model and services of this channel: Management with Merits (MANWIM), which is evident from its slogan (Manage to Prosper). The channel enhances its global audience to achieve their goals by developing their management and leadership competencies and skills (1st below figure). Thus, the channel’s primary mission is to empower future generations and provide them with the knowledge, tools, and practices in management and leadership that thrive them to prosper. This approach makes the channel a global business whose marketing responds to the needs and wants of global customers via providing them superb value in a simple, attractive, and practical management and leadership content and skills that lead customers to success and prosperity. Despite all of that, the channel has never received any monetary support or donation except for a single “offer” that was not actually made in practice. Therefore, taking the example of Elon Musk and Khan Academy, I strongly urge and encourage the global community to support the channel in all aspects, especially in sharing the word and engaging with it. Simple actions like YouTube subscriptions and turning on its bells; website’s mail list subscriptions and RSS feed activation; likes and comments at YouTube; comments and messaging at the website and the official email; Likes, comments, messages, and follows at Facebook & Instagram; and widely sharing the channel and all its electronic platforms have great contribution, value, and benefit to the individuals and the whole society in the present and the future. Supporting the channel by these means will ensure spreading knowledge, benefits, and fun, which will positively impact the society and enhance the sustainability of current and future generations. With respect to monetary donations, my reply to the comment in the 2nd below figure explains several points. What further emphasizes the importance of such acts is that the channel is purely an individual endeavor made by one person only in a country that suffers from catastrophic humanitarian disasters (Yemen). The channel doesn’t have any affiliation to any business, political, religious, sectoral, or any other parties. Thus, the channel will be more than glad to receive any kind of support, including monetary support. You may contact the channel via all its electronic platforms for details. In the near future, the channel will establish official electronic donation gates at the website and at YouTube via Patreon and other crowdsource funding means. All fans and viewers will be notified accordingly.
End of Session and Important Announcement
Completion of Part 4 (Extending Marketing) within the 1st Book (Marketing 2018) concludes our sessions and discussion of this book within the 2nd Year Program. We have spent four months in discussing the book, namely Oct, Nov, Dec (2020), and Jan (2021). Thus, this accomplishment is the biggest achievement for the channel in its 2nd Year. Thank you so much, our great fans, for your support. We hope that you continue and strengthen your great support to enhance society’s growth and development as we explained above.
Having finished our 1st book in the 2nd Year Program (Marketing 2018), two books will be remaining for us in the Program. As per the 1st below figure, the books are the 2nd Book: Human Resource Management (2020) and the 3rd Book: Financial Management (2019). Unfortunately, I have plenty of urgent and important tasks and duties nowadays, which will prevent the weekly production for the channel each Thursday. Thus, our production will be each 2 weeks: A week for the Arabic session, the other week off, the 3rd week for the English session, and the then week off. Consequently, next week (Thurs, Jan 28, 2021) will be off and then the cycle will apply. The next English session will be on Thurs, Feb 18, 2021. During the off weeks, the channel will be in touch with its global audience via posting relevant content, texts, figures, and so forth that are related to the last discussed lesson. This will be done on Thursdays at the channel’s Community Page of YouTube and its official Facebook & Instagram pages. This new temporary schedule will apply to all our sessions for the 2nd Book: Human Resource Management 2020 until we finish it on the 2nd Annual Anniversary of the channel on Aug 13, 2021. After this anniversary date, I hope that I will have finished my urgent duties to resume our normal weekly production each Thursday that we have maintained since launching the channel on Aug 13, 2019. Because of this bi-weekly production, the channel will not be able to cover the 3rd book (Financial Management 2019) in the 2nd Year Program. However, we will delay the book and make it the first book in the channel’s 3rd Year Program of Books (2nd below figure).
That was our session for today, my friends. Thank you so much for being with us. Please support the channel strongly so we can continue our glorious, global, and sustainable mission as shown before. Our production is every (next) Thursday temporarily. Please subscribe to the channel at YouTube and activate the notifications bell there. Please stay with us, follow us, participate with us, and widely share the channel and all its electronic contact platforms.