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Design Thinking Capstone Documentation Template Uploaded

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We have uploaded the design thinking capstone documentation template for the Design Thinking & Innovation module in Tekedia Mini-MBA. Good luck designing and fixing market frictions through a human-centered innovation. It is our Week 1, if you use your company’s main friction, as the case, send the result to your supervisor, when you are done. 

We are overly confident that you would be appreciated. Last year, that gave a graduate a job as an assistant to a governor [he designed solutions for Anambra state] and many others to higher positions.

 Your CEO is looking for answers to the company’s business challenges and opportunities. We want you to design that FUTURE. With the 38 page document from our faculty and the Challenge Assignments, we welcome you to the rigorous system we have in Tekedia Institute.

Believe The Promise of Tomorrow

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As you close for the weekend to rejuvenate, I want to drop this word: BELIEVE. By believing, Carlos Slim, the Mexican billionaire bought everything on his path during the ruins in his nation. Nations rarely kaput, his father had told him years ago.

Yes, when Mexico was in the ruins of currency crises and inflation, he loaded on equities, securities, bonds, etc, and believed. Legendary Templeton, the investor of the century, did the same, decades earlier, as stock markets collapsed because of the second world war.

The fact is this: Nigeria would not disappear. The greatest business in Nigeria has not been started. I challenge young people to rise unto the promise of tomorrow.  Thou will find pasture, and will leave any miry clay because thou liveth in the best era to be a youth!

 

Believe. Believe. Believe. Great weekend ahead.

Religion, Society and Balance

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Religious matters are always handled with care. Challenging or undermining religious beliefs have led to crisis. People have been indoctrinated to defending their faith to the point of giving their lives to protect it. The reason behind this is that a person’s religious belief controls how he lives his life. It influences his decisions and determines his reality. In other words, a person’s religious doctrine forms the core of his life; the totality of everything he knows and believes in. Challenging or undermining it, is therefore, challenging or undermining his existence. As a result, people become emotional and irrational when religious matters are being discussed.

In actual sense, religion, sociologically, is one of the social institutions. It is the institution that embodies a person’s belief about his relationship with supernatural beings. It is designed to develop people’s ideology about these supernatural beings and the powers they have over human beings. It is a system that comprises how humans revere these higher beings and the rewards and punishments that come from obeying and disobeying them, respectively. Put simply, religion dictates how humans should live their lives to please the supernatural beings in return for rewards.

The importance of religion can never be overemphasized. As an agent of socialisation, it has the ability of passing on desirable virtues to people. Most people today would not have lived peacefully with their neighbours if not that religion insisted so. With its lessons about the good and the evil, religion has been able to subdue a lot of evils in the society. Apart from these, religion provides stability in people’s lives. By giving them something to believe in and reminding them that the supernatural will provide their needs, religion has become a point of succour for many. It is also known to help with humanitarian services, which includes providing for the poor, the aged, and the sick. All these make religion an indispensable part of mankind.

Unfortunately, despite the advantages and importance of religion to mankind, a lot of problems have developed from it. These include inciting violence, encouraging laziness, and causing poverty.

Inciting Violence and Division

Cases of religious crisis have been reported and are still being reported in different parts of the world. The fear of oppression and the quest for supremacy are the major causes of these crises. Religion has also given room for segregation, nepotism, and marginalisation. People favour those they share the same religious beliefs with to the detriment of others. Insurgency and terrorism across the globe have also been linked to religious extremism. It is, therefore, unfortunate that religion, which should project peace, is the cause of violence.

At the family level, religion has caused division and crisis as well. Parents have disowned their children because they broke out of their family’s religion. There are cases of parents killing their children because they left or decided to leave the family’s religion or denomination. How about those that received prophecies that their family members are the sources of their misfortunes? Blames for these are, however, reserved for religious leaders, who implant fear and hatred in the minds of their followers.

Encouraging Laziness

The belief in the absolute control of human destinies by the supernatural has turned many people lazy. There are people today that still believe humans are in no position to decide for themselves. Some relax and wait for their “destiny helpers” to locate them. Others believe that unless a person is at peace with the supernatural he reveres, he can never progress. There are those that believe in the “what would be would be” ideology, hence staying back and waiting for appointed time things will begin to flow well for them. The consequence of this mentality is that those who believe their lives have been planned for them do not struggle to improve on themselves. Note that this essay is not condemning believing and trusting in divine beings or seeking divine help, but against people not working hard because they believe in miracles.

Causing Poverty

Despite being a nation with religious strongholds, Nigeria is still battling with poverty. Researchers have discovered that extreme obedience to and dependence on religious beliefs are some of the major causes of poverty in the country. As implied earlier, religion has caused many people to believe they were destined to become rich or poor, whether they worked hard or not. Some religious doctrines encourage poverty by professing it as the gateway to glorious afterlife. Some people have also been discouraged by their religion to avoid certain occupations or practices that would have pushed them from the poverty line.

Another major concern is the belief that every misfortune a person encounters is caused by supernatural manipulations. People with this mentality either believe those around them caused their misfortune (through evil manipulations) or that a supernatural force is fighting them. The problem here is that they fail to evaluate situations critically and objectively and hence fail to pick lessons they contain. People like this continue to make the same mistakes they would have avoided if not for their religious beliefs.

Religion is a beautiful and wonderful agent of socialisation, considering that it teaches virtues and instils discipline. However, its ability to influence people’s way of life, thoughts, ideologies, actions, and opinions has made it a dangerous control device in the hands of the wrong party. The best way to discourage its use by these manipulators is to break out of their hypnosis and demand for explanations to every doctrine.

Testimonials From Tekedia Mini-MBA Edition 4

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The quality of our program is so amazing that more than 93% of members complete on time. We posted our Week 1 on Monday and as I write, some have finished nearly 7-9 hours of videos there. Read some testimonials on the Board from our members. These are members with their photos , Facebook, LinkedIn, etc profiles set. Learn from the BEST.

“Am very impressed by the quality of facilitators and level of knowledge they are sharing with us. Top notch!!!. I have been  motivated to watch and follow through from the start (Prof. Ndubuisi Ekekwe) to the end (@Bola Adesope). Believe, this course is worth taking. Am looking forward to spending more time on this platform in the subsequent module. #Building a community of Innovators. Thank you.” – Niwa

“I enjoyed the Design Thinking class. It is very detailed, the case studies make it even more interesting. I have had Design Thinking classes before now, but this is the first time any facilitator will be breaking it down this much. Thank you, Mr. Aderinola Oloruntoye.” – cerio

“I really enjoyed the Innovation and digital transformation  lessons. really detailed and motivating” – ever

Source – (source)

Registration continues, join today.

Nigeria Floats Infra-co with $2.6 Billion

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Mr. President has approved the establishment of an Infrastructure Company -a wholly focused vehicle designed to deepen critical infrastructure investments in Nigeria. The playbook would be Public-Private Partnership and the government is dropping N1 trillion (about $2.6 billion). While we can hail this move, the fact remains that Nigeria’s banking sector is underperforming in this domain.

This hail mary pass (as in American football) of scaling bureaucracy here and there is a sign that our banking sector is seriously lacking in this space. But you cannot blame the banks – no person will put money for decades-long  risks when inflation and forex are out of control. So, the banks stay with their trade services, funding importers with a risk tenor of 6 months while Abuja looks for playbooks to build infrastructure.

What this does is that it makes infrastructure investment challenging for Nigeria. Watch this Infra-co, its numbers will over time experience pressure. It is fundamental: in 2020, 83% of Nigeria’s revenue was spent on servicing debts. So, there needs to be a redesign since more debts will mean more pressure on the meagre national revenue. 

At the end, building our infrastructure is connected to the stability of our currency since long-term investments are perceived from the angles of currency & inflation stability, among others.

Yes, we hit a new milestone in 2020: 83% of revenue was spent on servicing debts: “total revenue earned in 2020 was N3.93 trillion representing a 27% drop from the target revenues of N5.365 trillion. However, debt service for the year was a sum of N3.26 trillion or 82.9% of revenue. Nigeria’s debt service cost of N3.26 trillion has now dwarfed the N1.7 trillion spent on capital expenditure of N1.7 trillion incurred in 2020.”

Comment on LinkedIn Feed

Comment #1: Why don’t we still have a government backed public listed infrastructure company that focuses on road construction? The company raises construction capital from an IPO and revenue is generated from tolls or is there something I’m missing out?

My Response: These things are really hard. Look at NBET Plc, etc. Investors are not stupid. When maturity moves in decades, the stability of Naira becomes an issue. So, you do not want to get in and hold a zoombie in your hand. Nigeria’s best investment is stabilizing the exchange rate of Naira. That is the real infrastructure. If that happens, what you just noted will become possible. Without it, our playbook runs in months, not years.

Comment #2: I would look towards hashtag#india for some of their ideas that got put into play decades ago. Infra, farm sector, industrial projects…..are typical areas that need either special vehicles and agencies, or they need a serious policy push. Check IDBI, NABARD, PFC.
For policy push, look at the rural banking and Agri banking push for the public sector banks in those decades.
Happily, times have changed and the world of finance, lending, and even policies has moved on. Nigerian market, Nigerian banking sector, and Aso Rock……carry enough capacity to make some big impact in the desired economic development spaces.
And yes, enough opportunity to partner with experienced global institutions in respective fields.
The 2.6bn and the Infra-co are good steps.

Nigeria Hits A New Milestone With 83% of Revenue Spent on Debt Servicing in 2020