From Inner Life to Outer World: How Women, Gen Z Are Invested in Business Education

Survey finds interest in tech sector stagnates for post-school career while the U.S. continues to attract global talent upon rebounding mobility
 
RESTON, Va., April 10, 2023 (GLOBE NEWSWIRE) — People thinking about going back to business schools are more interested in enriching their lives than increasing their incomes, according to a survey of prospective students of graduate management education (GME) released by the Graduate Management Admission Council (GMAC), a global association representing leading business schools. Seventy-nine percent of prospective students worldwide are motivated to pursue GME to better their lives and develop their potential—15 percentage points more than the next-best motivator, increasing income.

Furthermore, women, millennials, underrepresented U.S. candidates, and first-generation prospective students are all statistically more likely to indicate post-GME career preference for the government or nonprofit sector, which tends to be more stable and socially engaged though less lucrative than the private sector. Gen Z, on the other hand, are most interested in entering the finance and accounting industry, and about 10 percentage points more likely to cite increasing their incomes and expanding their networks as top motivators for pursuing GME than their older counterparts.

“In response to queries frequently received from our schools, we asked additional questions in our survey this year because meaningful shifts in prospective student demographics are underway. Understanding candidates from Gen Z—now the largest generation applying to business schools—is critical as programs plan for expanding the pipeline down the road,” said Joy Jones, CEO of GMAC. “We want to take a closer look at the trends among women, first-generation, and U.S. underrepresented candidates to equip schools with the knowledge that ensures every talented person can benefit from the best business education for them.”

Full-time MBA programs continue dominance while in-person experience trumps for Gen Z

Since 2019, the two-year MBA has been the preferred program among candidates globally. This year, the one-year MBA surpassed it as the most popular program choice, though the difference remains within the margin of error. Taken together, the full-time MBA of any duration continues to surpass interest in more flexible or executive MBAs and business master’s programs.

Gen Z is most interested in the two-year MBA and millennials are most interested in the one-year MBA. Despite growing up as digital natives, Gen Z also have a strong preference for in-person study, with 80 percent of Gen Z reporting preference for this modality compared to 69 percent of millennials. This could be an indication of where each generation is in their career—older candidates may have more established networks or more responsibilities at work or at home, while younger candidates are more interested in expanding their networks and may have more ease entering and exiting GME.

Flexibility speaks to women candidates as interest in the technology sector stagnates

It is true overall global preference remains with in-person learning. But online—and especially hybrid—programs have made in-roads with groups most likely to benefit from the flexibility they offer, specifically women, first-generation, and millennial candidates.

“There is no doubt that these programs play an important role in the overall equity of graduate management education, attracting candidates who rely on flexible program delivery and may not otherwise pursue a business degree,” said Anthony Wilbon, dean of Howard University’s School of Business and a board member of GMAC.

After graduation, consulting remains the top post-GME industry across generations and regions. Though change may be on the horizon in the number two slot – the technology industry – as Gen Z show more interest in finance and accounting than technology. While data was collected largely before the recent retraction of the tech industry, this year’s results demonstrate underlying challenges with the pipeline of GME candidates interested in tech—namely that Gen Z, women, and underrepresented U.S. candidates are less interested in the field.

The United States remain the top consideration as a study destination

COVID-19 forced people around the world to stay at home, but candidates are again looking to study abroad. Prospective students interested in studying outside of their country of citizenship are up, especially in Europe and Asia/Pacific Islands compared to last year – 84 percent of candidates from Asia are looking to study outside of their country of citizenship compared to 79 percent last year, and 81 percent of candidates from Europe are looking to study outside of their country of citizenship compared to 77 percent last year.

The trends driving candidates to study in places like the United States and Western Europe have not changed since last year. After losing the top spot for a year in 2020, the U.S. remains the most preferred study destination – driven by reputation and perceived career preparation, with 42 percent of respondents indicating interest, followed by Europe (37%) and Canada (9%). While candidates perceive U.S. GME programs as more expensive than others in Europe, Canada, or Australia, candidates also believe there is more financial aid available in the United States.

About the Prospective Student Survey

For more than a decade, the GMAC Prospective Students Survey has provided the world’s graduate business schools with critical insights into the decision-making processes of people currently considering applying to a graduate management education (GME) program. This year’s summary report considers data collected in the 2022 calendar year from 2,710 respondents in 131 countries around the world. Among them, 40 percent are female, 44 percent are younger than 24 years-old, 21 percent are U.S. underrepresented population, and 55 percent majored in a non-business field as undergraduates. The survey continues to explore trends in the candidate pipeline, program preferences, and career goals, with new questions added this year about first-generation candidates, motivations for pursuing graduate management education, and social issues like sustainability and corporate social responsibility. The report also considers the longevity of trends in online and hybrid education and candidate mobility brought on by the COVID-19 pandemic.

About GMAC

The Graduate Management Admission Council (GMAC) is a mission-driven association of leading graduate business schools worldwide. GMAC provides world-class research, industry conferences, recruiting tools, and assessments for the graduate management education industry as well as resources, events, and services that help guide candidates through their higher education journey. Owned and administered by GMAC, the Graduate Management Admission Test™ (GMAT™) exam is the most widely used graduate business school assessment.

More than 12 million prospective students a year trust GMAC’s websites, including mba.com, to learn about MBA and business master’s programs, connect with schools around the world, prepare and register for exams and get advice on successfully applying to MBA and business master’s programs. BusinessBecause and GMAC Tours are subsidiaries of GMAC, a global organization with offices in China, India, the United Kingdom, and the United States.

To learn more about our work, please visit www.gmac.com

Media Contact:

Teresa Hsu
Sr. Manager, Media Relations
Mobile: 202-390-4180
thsu@gmac.com

GlobeNewswire Distribution ID 8804854

Enernet Global completes rapid delivery of 4MW start-up power generation for off-grid smelting facility in South Africa and is on track to deliver full hybrid solar and battery storage system to reduce emissions

JOHANNESBURG, South Africa, April 10, 2023 (GLOBE NEWSWIRE) — Enernet Global (“Enernet”) remains on-track to deliver a full-hybrid system for the Ironveld Smelting (“Ironveld”) Rustenburg smelter complex in South Africa, having already provided start-up generation required.

Following the successful implementation of a 1MW temporary power plant commissioned in late 2022, Enernet has deployed the first of four stages of power upgrades for the Ironveld. The first stage involves a 4MW power plant that enabled ‘Hot Commissioning’ of the first of three planned operating furnaces. This process included smelting of test quantities of magnetite ore in order to produce HPI and titanium slag. Working in a close partnership with Ironveld and their sub-contractors, Enernet managed the rapid delivery of the first stage power with no safety or environmental incidents. Despite the inherent challenges of labour and equipment shortages due to countrywide stage four load shedding, the project was completed in less than 10 days.

Delivering the fast-tracked power involved road freight conveys from Johannesburg, a 90-tonne crane and a site crew of up to 20 working around the clock to deliver the much needed power in a record time. Enernet’s Vice President Engineering, Dusan Nikolic led the onsite pre-delivery electrical safety tests and inspections. “The delivery of stage one power was a combined effort between Ironveld and Enernet, the quality and speed at which the work was completed is a testament to how well the two companies worked together as a team.”

Enernet are now progressing multiple work packages in preparation for the future stages of power upgrades which will boost the on-site power capacity for the operation of three of the furnaces). These upgrades will enable the smelter complex to process approximately 40,000 tonnes of Ironveld’s magnetite ore per annum which, in turn, will provide 20,000 tonnes of high purity iron, 190 tonnes of vanadium in slag; and 3,800 tonnes of titanium in slag.

Ironveld Smelting’s CEO, Thamaga Mphahlele, commented “Our partnership with Enernet is working extremely well and is provides us with the confidence we need execute our expansion plans over the coming months.”

Imminently, work will begin on the design and construction of both rooftop and ground mounted solar power systems with a combined capacity of 6MW, for which Enernet’s power engineers are working with South African-based contractors.

The final stage of power implementation will comprise a hybrid of energy technologies including solar power, a battery energy storage and clean burn, liquefied natural gas generators.

The solar system, battery storage and LNG generators will be fully-funded by Enernet and once operational, power will be purchased by Ironveld under a 20-year energy services agreement. “The team at Ironveld have a ‘can do’ mindset which aligns with our business culture and has been key to completing the project milestones safely and on time,” Enernet’s Business Development Manager, Martin Smith concluded.

About Enernet Global Inc
Enernet Global is a distributed energy service provider that finances, builds, owns and operates microgrids and drives the adoption of renewable energy, battery storage and energy efficiency solutions that displace CO2 emissions. Built on the company’s proprietary software platform, Enernet Global’s Energy-as-a-Service offering benefits on and off-grid customers by providing less expensive, more resilient power solutions at no capital outlay for customers.

Enernet has operations in Australia, the Philippines, the Caribbean and Sub-Saharan Africa, where it focuses on power solutions for sectors that include island development, mining, commercial and industrial, remote communities, agriculture, utilities and hospitality.

About Ironveld
Ironveld (IRON.LN) is the owner of Mining Rights over approximately 28 kilometres of outcropping Bushveld magnetite with a SAMREC compliant ore resource of some 56 million tons of ore grading 1,12% V2O5, 68,6% Fe2O3 and 14,7% TiO2. In 2022 Ironveld agreed to acquire and refurbish a smelter facility in Rustenburg, South Africa, in which it can process its magnetite ore into the marketable products of high purity iron, titanium slag and vanadium slag.

Media contact:
Paul Matthews
Chief Executive Officer
Enernet Global Inc.
Office: 3 East 80th Street, New York, NY 10075
Contact number: +1 541 292 6422
Email: pmatthews@enernetglobal.com

GlobeNewswire Distribution ID 8804745

New Marriott International resort “laïla” opens in Seychelles

Marriott International's newly-opened branded hotel in Seychelles is set to present the island nation's hidden gems to its guests who seek personalised experiences and are interested in establishing a relationship with the community.

Called laïla, the resort is owned by Seychellois businessman Gilbert Frichot, and is located within the community of the southern Anse Royale district on the main island of Mahe. The name comes from the Creole phrase "la i la", which means "here it is".

The resort faces Anse Royale beach, just a walk across the road from the hotel, and within a short distance from other services - restaurants, shops, and a pharmacy, among others - within the area.

Speaking to SNA on Thursday, the resort's director of sales, Shamita Palit, explained that the "resort has all the comfort, amenities, and facilities that you would expect from a resort, as well as offers the feel and atmosphere that you would get when staying in at a more local accommodation."

"The concept of laïla is a village-integrated resort which means we are integrated into Anse Royale and this is how we pronounce ourselves. It allows us to provide our clients with the experience of how daily life in Seychelles is," said Palit.

Talking about laïla becoming part of the brand of American multinational company Marriott International, Palit shared that "when we had the opportunity to join the Marriott group we had to start with identifying which brand we would fit into."

She added that "with the project having been already in existence at the time, it was identified by us and the team from Marriott that it would fit in well within the Tribute Portfolio as it is a soft brand."

The Tribute Portfolio allows hotels to create their own individual identity, all the while following the branding guidelines and regulations of Marriott International. Among the 33 Tribute Portfolios, no two hotels are the same.

Marriott International's vice president of the Premium and Select Brands for Europe, Middle East, and Africa, Sandra Schulze-Potgieter, shared in a recent press release that she and her team are thrilled to be opening laïla, Seychelles, and to introduce the brand to this vibrant, leisure destination.

"As the first Tribute Portfolio property in Seychelles and further growing its footprint in EMEA (Europe, Middle East, and Africa), this resort advocates the brand's passion for captivating design and sincere service, while offering unique experiences that connect guests to the spirit of the destination," continued Schulze-Potgieter.

The resort was designed by MMAC Design, a multiple award-winning interior design company based in Dubai, and built by a local construction company, Mahe Design and Build, owned by Gilbert Frichot.

The property has 84 rooms boasting nature-inspired aesthetics, with silhouettes of Seychelles' plants, as well as wall murals and natural materials, often used in the island's traditional architecture integrated into the design. The resort offers a relaxed atmosphere with a great number of plants, some of which are endemic to Seychelles, growing on all levels of the resort and its facilities.

Among the amenities guests can enjoy are a water sports centre, an outdoor swimming pool, a 24/7 gym, spa, a barbershop, and a kids recreation area. Looking to attract visitors and locals, the resort also features five restaurants and bars designed to capture the spirit of the community.

The different restaurants have on their menus a range of Creole dishes and drinks as well as international cuisines. One of the restaurants on the laïla's list is the Kafe Kreol Beachside Bar and Restaurant, an existing restaurant that is located across the street from the resort.

The press release outlined that as a Tribute Portfolio Resort, laïla is part of Marriott Bonvoy, the award-winning travel programme from Marriott International, where Marriott Bonvoy members will be able to earn points for their stay at the new resort, as at other properties across Marriott Bonvoy's portfolio.

Currently, there is only one other Marriott International resort in Seychelles, which is the North Island resort, which falls under the company's Luxury Collection.

Source: Seychelles News Agency

Mauritius: $250 Million from the AfDB for Post-Covid-19 Economic Recovery

On March 29, 2023, in Abidjan, the Board of Directors of the African Development Bank (AfDB) approved a loan of $250 million to Mauritius. The information was disclosed on the same day in a press release on the AfDB website. The parties agreed that “this financing is intended to implement the Competitiveness and Economic Resilience Support Program to support the post-Covid-19 economic recovery of the Indian Ocean archipelago.

“The program will strengthen the competitiveness of the Mauritian private sector in agro-industry and fisheries “

The first component of this program aims to “strengthen the participation and competitiveness of the private sector in key areas (agro-industrial development and fisheries)”. It includes several activities that consist of exploiting agro-industrial development and fisheries, improving the business environment, developing skills and small and medium enterprises. The parties agreed on the establishment of a revolving fund for the sugarcane industry. In addition, the Mauritian government will develop an aquaculture policy to exploit the potential of the island’s aquaculture industry.

“Mauritius and the AfDB want to accelerate the green transition and strengthen environmental governance”

The second component is about “fostering an enabling business environment and leveraging both sectors, strengthening green recovery and climate resilience, supporting the acceleration of the clean energy transition and strengthening environmental governance”. Here, the project will roll out a carbon-neutral industrial loan program to provide a viable option for industrial companies to generate renewable energy (solar and wind) for their own consumption. The project is also expected to enable the government to put in place a national biomass framework to help meet the target of producing 60% of energy from renewable sources by 2030, phasing out the use of coal.

“The reforms will enable Mauritius to reduce greenhouse gases by 40% by 2030”

Mauritius is counting on this program “to increase the share of agriculture, forestry and fisheries to 2% in 2024 in the gross domestic product (GDP) from 0.93% in the last three years (2017, 2018 and 2019), prior to Covid-19”. “Manufacturing GVA to GDP is expected to increase by 2% in 2024 (compared to a pre-Covid-19 three-year average of 1.03%),” the AfDB said. The various reforms will be crucial and should help the Mauritian economy to strengthen its resilience. In particular, they will enable the government to meet its target of reducing greenhouse gases by 40% by 2030.

It is expected that at the end of the project, Mauritius will increase its installed renewable energy capacity to 496 MW in 2024 from 306.98 MW in 2021; and the additional mobilisation of climate finance (adaptation and mitigation) to 3.6% of gross domestic product in 2024 from 2% in 2021.

As a reminder, as at 31 December 2022, the AfDB Group’s active portfolio in Mauritius comprised seven projects with a total commitment of $286 million.

Source: Africa News Agency

Bruno records double-double in NBA regular season last stage

The Angolan power forward Bruno Fernando scored 19 points and recorded 10 rebounds and with that achievement he was one of the players who was prominent in the last game of the NBA regular season, played on Sunday night in Atlanta, Georgia, U.S.

Despite his team´s defeat, the Atlanta Hawks, who lost to his former team Celtics by 114-120, the Angolan player only played 22 minutes.

Bruno Fernando had an efficiency of 72.7% (8/11) in field shots and 75% (3/4) in free throws.

The Atlanta Hawks although already defeated are qualified for the “Play-In Tournament”, in which they will face the winner of the match between Miami Heat and Toronto Raptors.

Bruno Fernando, 24 years old, is the first and only Angolan to reach the NBA. He is 2,6 meters tall and was graduated at the 1º de Agosto school.

Bruno has also played in Houston Rockets and Maine Celtics teams.

Source: Angola Press News Agency

Komondjaori: Several terrorists neutralized in Foutouri

In Wednesday April 5, 2023, several terrorists were neutralized and their combat equipment put out of harm's way by the Defense and Security Forces of the Foutouri military detachment, the AIB learned.

According to security sources, on Wednesday April 5, 2023, around 2 p.m., the Defense and Security Forces of the Foutouri military detachment fell into an ambush by terrorists between the villages of Daagou and Foutouri center.

The vigorous and professional response of the FDS made it possible to neutralize several attackers, destroy and recover equipment.

Unfortunately, on the friendly side, a valiant fighter fell and another was injured in the ambush.

Source: Burkina Information Agency

Bam: Actors in the fight against child marriage and other GBV

The initiative of journalists for the promotion and protection of specific groups in the Centre-North (IJPROGS / CN), in partnership with the association for support and awakening pugsada ( ADEP ), organized, on April 6, a theater-forum on child marriage and gender-based violence (GBV) for the benefit of internally displaced persons.

The awareness and advocacy caravan initiated by the IJPOGS/CN) and the ADEP, is part of the implementation of the Choose with whom and when to marry (CHAM) project.

According to the supervisor of the CHAM project, Daniel Ouédraogo, the objective is to protect children, especially young girls, against early/forced marriages and against all forms of gender-based violence (GBV).

Kongoussi's activity consisted of forum theater activities followed by raising awareness among populations on the IDP site of the small Kongoussi prison and correctional centre.

The theme developed related to the disadvantages of child marriage and the various forms of violence that women suffer in society.

According to the coordinator of IJPROGS/CN, Emil Segda, the release on Kongoussi was more than necessary.

“You are well aware that internally displaced persons are much more exposed to violence in this period of security and humanitarian crisis. And we wanted through this animation, to change the mentalities vis-a-vis the various GBV”, he continued.

The provincial director in charge of Gender in Bam, Martine Topan/Bansé welcomed this initiative by journalists and ADEP who have decided to support the Burkinabè State in raising awareness.

For her, the phenomenon of child marriage is very real in Bam. According to him, the situation is very worrying and poverty is one of the main causes.

Regarding GBV, she revealed that Internally Displaced Women (IDF) are very exposed in view of their vulnerable situation.

“Among this violence, we can cite, among others, rape, physical violence and cases of denial of pregnancy that we continue to record,” lamented Ms. Bansé.

In the plea, the secretary general of the province (SGP) of Bam, Karim Ouédraogo who received the caravaneers, praised their initiative.

As a result, he urged the targets concerned to get involved with the caravaneers so that the situation of GBV is reversed in his administrative district.

Funded by the NGO Plan international Burkina Faso thanks to the financial support of the NGO Plan International Germany, the CHAM project which started in November 2019, is scheduled to end in April 2023.

Source: Burkina Information Agency