One of the quickest ways an institution can fail in online learning is by trying to replicate the traditional on-ground learning environment. This mistaken approach disregards the strengths of digital technology and asynchronous modality. It’s like trying to turn a book into a movie without leveraging the strength of the visual story-telling medium. (See David Lynch’s Dune.)
The good news is that not all institutions are going down that path. Many institutions are doing great work in the online learning space, and the University of Central Florida could be considered a poster child for success. Late last year, Bill and Melinda Gates visited the UCF campus in Orlando (my backyard), and he had some positive recognition for the work going on there. His blog entry is worth the read.