Labster Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Labster Case Solution

Introduction

Labster is an innovative platform providing services for virtual labs. Virtual labs are the simulations of the actual physical labs for creative and innovative activities of the actual performances in a lab. These account for highly trained professionals for guiding and dictating the creation of virtual labs.

The equipment, tools, procedures, and tests that are used for biology, chemistry, medicine, physics, etc. are all made similar to the tests in an actual lab. These labs have the major advantage of avoiding expensive budgets by spending on a physical lab with heavy equipment and chemicals.

Labster aims in providing the necessary lab equipments and the tests that are necessary academically. Labster first introduced the software back in 2013 when the world was heading actively towards the idea of simulations and has created around 71 simulations until now. They are ranked among the top virtual labs in the world. they offer a wide range of simulations from handling small tests like those of acids or bases and observing the corrosive nature of the toxic chemicals to complex experiments like handling and usage of a confocal microscope.

In addition to handling the equipments and testing chemicals, they have also included games and puzzles to keep the students engaged. They designed the simulation similarly to avoid the students from getting bored and participating actively in the testimonials.

Situation

Labster is an interactive platform for the science simulations used by educators. The world is heading towards simulation programs rather than costly budget labs. Labster has provided around 71 simulations for different life sciences courses. The majority of the students and educators are using Labster because (Stauffer, 2018)

They provide an interactive medium for student learning outcomes.
Advance student retention in the subject.
No limitation of instruments to the usage.
Easy access to lab equipments.
Convenient tracking of the progress or decline.
Provides feedback.
Easily integrate with moodle, blackboard, etc.
Aligns easily with the curriculum.

They have decided to increase the number of simulations to 150 by the end of 2018. They are also heading towards virtual reality programs to be incorporated into the simulations. They have an active and reasonable pricing strategy providing a minimum package of $19 to students with around 60+ simulations and also provides access to all simulations upcoming in the future. This is the monthly package provided to the students and is cost-efficient.

Relevance to industry

Labster’s target customers are administrators of universities, lecturers, pupils, and those who are seeking improved techniques to teach their students STEM courses with expertise. Labster is a wide platform providing simulation access to a wide variety of educational institutes like the University of New Haven, MIT, Harvard, California State University, Gwinnett Technical College, etc. in a variety of languages, broad characters on screen and aiding the visual and hearing impaired personals.

They started this program with the idea of easing the situation for the students who complained of difficulty in grasping the topic despite it being interesting to study. They are mainly linked to the teaching industry as the simulations provide an interactive learning environment for the students and thus have become a trust factor for a large number of tutors.

SWOT Analysis

SWOT Analysis is an effective tool for identifying the internal as well as external environment of the firm. Labster is an effective platform for students and teachers for learning outcomes providing virtual lab services in a variety of languages to widespread universities. Let's dig more into the internal and external condition of this firm which is the potential future of teaching and learning.

Strengths

Excellent services:

The firm is offering excellent services with respect to the virtual base in order to promote innovative learning techniques for students as it has been ranked among the top 10 virtual lab services operating worldwide.

Enhancement of subject:

They provide an innovative method for the enhancement of the subjects for students to grasp easily by virtually providing such an environment.

Innovative lab practices

The lab practicals provide similarity to hand on experience in a physical lab and thus make better learning criteria by providing productive games and challenges.

Cost reduction

Labster is offering an effective way of reducing costs by providing simulation packages. These then tend to avoid building expensive labs and purchasing chemicals...................

Labster Case Solution

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Labster Harvard Case Solution & Analysis