Clayton M. Christensen and Michelle R. Weise:

JOURNALISTS, AS 2013 ended, were busy declaring the death of MOOCs, more formally known as massive open online courses. Silicon Valley startup Udacity, one of the first to offer the free Web-based college classes, had just announced its pivot to vocational training — a sure sign to some that this much-hyped revolution in higher education had failed. The collective sigh of relief from more traditional colleges and universities was audible.

The news, however, must have also had the companies that had enthusiastically jumped on the MOOC train feeling a bit like Mark Twain. When newspapers confused Twain for his ailing cousin, the writer famously quipped, “The report of my death was an exaggeration.” Undoubtedly pronouncements over MOOCs’ demise are likewise premature. And their potential to disrupt — on price, technology, even pedagogy — in a long-stagnant industry is only just beginning to be seen.

How important is disruption in higher education? Tuition costs have been ballooning faster than general inflation and even faster than health care. And what do we get in return? Nearly half of all bachelor’s-degree holders do not find employment or are underemployed upon graduation. At the same time, employers have not been satisfied with degree candidates. Two recent Gallup polls showed that although 96 percent of chief academic officers believe they’re doing a good job of preparing students for employment, only 11 percent of business leaders agree that graduates have the requisite skills for success in the workforce. And this is all occurring while higher education leaders were convinced that they were innovating all along.