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No-pay MBA comes to SA

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MBA carrying professionals earn close to double compared to their peers. However, the option of taking on an MBA seemed only available to those few who can afford it. This may change though through the No-Pay MBA pilot which kicks off next month.

The option of a No-Pay MBA might sound off kilter to many people, but thanks to open source technology it is now a reality. Self-motivated young professionals aiming to pursue a business education, without going into debt, can now access the innovative option through the guidance and tutelage of a South African NGO and one of South Africa’s leading innovators in the field of executive development.

Research shows that MBA carrying professionals earn close to double compared to their peers. However, the option of taking on the MBA seemed only available to those few who can afford it. Co-designer of the renowned UCT’s Graduate School of Business’ pioneering Executive MBA, Tom Ryan believes this is something that can be changed.

“I was inspired by the story of Laurie Pickard. In 2013, Laurie needed a business education to move forward in her career, but after researching the options, she was unconvinced that an investment of her life savings in a traditional MBA would pay off. She thought there might be another way and with the help of free online courses from the world’s top universities she began her self-taught journey. She documented her noble experience on her blog, No-Pay MBA, so that others could learn from her – and the public quest went viral. When I read about her experience I knew it could be replicated and even improved in South Africa,” says Tom.

Tom began conceptualising what a low-cost MBA would look like and soon approached Cape Town based NPO, Salesian Life Choices to partner with him.

Sofia Neves, Salesian Life Choices MD says; “When we heard the concept of the No-Pay MBA we knew we wanted to be part of it. Our mission as an organization is to tackle inequality and this concept excited us. The fact that only a few elite can afford the exorbitant fees required to pursue a MBA in South Africa feels unethical. Business skills are a scarcity, but they are essential to support SA’s economic growth, – something we are in desperate need of.”

The No-Pay MBA uses blended learning that reverses the traditional learning environment by delivering instructional content – often online – using MOOCs, outside of the classroom. Students watch online lectures, collaborate in online discussions, carry out research at home and then once a week engage in peer-learning in the classroom with the guidance of an expert.

“The program welcomes people from different fields, no background knowledge is required; however preference is given to candidates with some management experience. The course is ideally suited to those desiring to enhance their business acumen, looking to change careers, start a business or just get better in their profession,” says Tom.

As with Pickard’s design, courses offered are based on MOOCs from leading institutions including, but not limited to, Massachusetts Institute of Technology (MIT), the University of California, University of Pennsylvania and Macquarie University in Australia. The 100 week programme demands 10 hours of commitment per week – seven hours of self-study and three hours in meet-ups and will start in April 2018.

“We have begun our recruitment and anyone can join the open days before the closing date on the 28th of March. The programme will be piloted in Cape Town and the weekly meet-ups will happen after hours at our academy in the Southern Suburbs. The aim is to accommodate working professionals as much as we can. The cost for the two year programme is R38,000 and there are several options of payment.

“Five scholarships will be offered. The aim is to push boundaries and align the programme with how modern education should be – dynamic and equitable,” says Sofia.

Laurie Pickard, the originator of the No-Pay MBA concept and author of the book Don’t Pay For Your MBA says, “The curriculum of Life Choices No-Pay MBA is outstanding, comparable to the education you would get at any major business school. Even more valuable, having the support and guidance of a community of other learners and professionals is something that could have added much value to my own No-Pay MBA journey. There is potential for dedicated learners to get outstanding value out of this program, far beyond what they could get with a traditional MBA program. A comprehensive curriculum, a cohort of peers, and an affordable price. What more could you ask for?”

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Now download a bank account

Absa has introduced an end-to-end account opening for new customers, through the Absa Banking App, which can be downloaded from the Android and Apple app stores. This follows the launch of the world first ChatBanking on WhatsApp service.

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This “download your account” feature enables new customers to Absa, to open a Cheque account, order their card and start transacting on the Absa Banking App, all within minutes, from anywhere and at any time, by downloading it from the App stores.

“Overall, this new capability is not only expected to enhance the customer’s digital experience, but we expect to leverage this in our branches, bringing digital experiences to the branch environment and making it easier for our customers to join and bank with us regardless of where they may be,” says Aupa Monyatsi, Managing Executive for Virtual Channels at Absa Retail & Business Banking.

“With this innovation comes the need to ensure that the security of our customers is at the heart of our digital experience, this is why the digital onboarding experience for this feature includes a high-quality facial matching check with the Department of Home Affairs to verify the customer’s identity, ensuring that we have the most up to date information of our clients. Security is supremely important for us.”

The new version of the Absa Banking App is now available in the Apple and Android App stores, and anyone with a South African ID can become an Absa customer, by following these simple steps:

  1. Download the Absa App
  2. Choose the account you would like to open
  3. Tell us who you are
  4. To keep you safe, we will verify your cell phone number
  5. Take a selfie, and we will do facial matching with the Department of Home Affairs to confirm you are who you say you are
  6. Tell us where you live
  7. Let us know what you do for a living and your income
  8. Click Apply.

 

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How we use phones to avoid human contact

A recent study by Kaspersky Lab has found that 75% of people pick up their connected device to avoid conversing with another human being.

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Connected devices are becoming essential to keeping people in contact with each other, but for many they are also a much-needed comfort blanket in a variety of social situations when they do not want to interact with others. A recent survey from Kaspersky Lab has confirmed this trend in behaviour after three-quarters of people (75%) admitted they use a device to pretend to be busy when they don’t want to talk to someone else, showing the importance of keeping connected devices protected under all circumstances. 

Imagine you’ve arrived at a bar and you’re waiting for your date. The bar is busy, and people are chatting all around you. What do you do now? Strike up a conversation with someone you don’t know? Grab your phone from your pocket or handbag until your date arrives to keep yourself busy? Why talk to humans or even make eye-contact with someone else when you can stare at your connected device instead?

The truth is, our use of devices is making it much easier to avoid small talk or even be polite to those around us, and new Kaspersky Lab research has found that 72% of people use one when they do not know what to do in a social situation. They are also the ‘go-to’ distraction for people even when they aren’t trying to look busy or avoid someone’s eye. 46% of people admit to using a device just to kill time every day and 44% use it as a daily distraction.

In addition to just being a distraction, devices are also a lifeline to those who would rather not talk directly to another person in day-to-day situations, to complete essential tasks. In fact, nearly a third (31%) of people would prefer to carry out tasks such as ordering a taxi or finding directions to where they need to go via a website and an app, because they find it an easier experience than speaking with another person.

Whether they are helping us avoid direct contact or filling a void in our daily lives, our constant reliance on devices has become a cause for panic when they become unusable. A third (34%) of people worry that they will not be able to entertain themselves if they cannot access a connected device. 12% are even concerned that they won’t be able to pretend to be busy if their device is out of action.

Dmitry Aleshin, VP for Product Marketing, Kaspersky Lab said, “The reliance on connected devices is impacting us in more ways than we could have ever expected. There is no doubt that being connected gives us the freedom to make modern life easier, but devices are also vital to help people get through different and difficult social situations. No matter what your ‘connection crutch’ is, it is essential to make sure your device is online and available when you need it most.”

To ensure your device lifeline is always there and in top health – no matter what the reason or situation – Kaspersky Security Cloud keeps your connection safe and secure:

·         I want to use my device while waiting for a friend – is it secure to access the bar’s Wi-Fi?

With Kaspersky Security Cloud, devices are protected against network threats, even if the user needs to use insecure public Wi-Fi hotspots. This is done through transferring data via an encrypted channel to ensure personal data safety, so users’ devices are protected on any connection.

·         Oh no! I’m bored but my phone’s battery is getting low – what am I going to do?

Users can track their battery level thanks to a countdown of how many minutes are left until their device shuts down in the Kaspersky Security Cloud interface. There is also a wide-range of portable power supplies available to keep device batteries charged while on-the-go.

·         I’ve lost my phone! How will I keep myself entertained now?

Should the unthinkable happen and you lose or have your phone stolen, Kaspersky Security Cloud can track and protect your device from data breaches, for complete peace of mind. Remote lock and locate features ensure your device remains secure until you are reunited.

 

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