Travel Report NUCB Business School Nagoya, Japan

Travel report

Nagoya, Japan

Student no. 320780

1. Preparing for the exchange

• For example what documents were needed, how long did it take to obtain a visa if needed, what papers needed to be sent to the Host University

I applied to the 2015 fall exchange program. I got the first email from the partner school on 27.3.2015. They asked to send the following documents via email:

1. Application form (Original)

2. CV/Resume

3. 2 copies of Passport (Date of expiration must be after their expected period of stay in Japan.)

4. Document for proof of English Proficiency (TOEFL550/TOEIC750 or its equivalent)

5. Essay " Details your reasons for choosing to study at NUCB Graduate School/in Japan (1 page/ No specific form)

6. Official transcripts from your school

7. Application for Certificate of Eligibility (Visa document)

8. 3 photos (color copy is NOT acceptable) 40mm x 30mm/Should write your name on the back of the each photo

9. Bank statement or Financial statement

Document of proof of English proficiency was quite flexible. They accepted a confirmation letter from Aalto that the studies there are conducted mostly in English, and that my GRE test score was reasonable.

The partner school sent the Certificate of Eligibility (Visa document) and Letter of Acceptance in July. I brought these documents to the Japanese embassy in Helsinki, and received the visa later that day (in about 1 hour). It cost about 21euros.

• Traveling to the Host University, reception at the school • Possible problems, if any

I came to Nagoya from Tokyo with a bus (about 6h, 20 euros), but there are also faster and more expensive shinkansens (bullet trains) from Tokyo to Nagoya. Moreover, there are direct flights from Helsinki to Nagoya with Finnair.

I arrived at campus on 1.9., where I waited for a couple of hours before the school staff gave me a ride to the student dormitories.

2. Exchange studies

• Starting and ending dates of the terms (including possible orientation and examination period)

Check in to student dormitories: 1. – 2.9.2015

Orientation: 3. – 4.9.2015

Fall term 1: 8.9. – 31.10.2015 (exam week 18.-31.10)

Fall term 2: 1.11.-18.12.2015 (exam week 14.-18.12.)

• Generally about the courses o Were there enough courses offered? o What courses and at what level (e.g. undergraduate/graduate) is it possible to take? In which program did you study? o How freely can courses be selected? Is it compulsory to follow a certain program? o In which languages are courses offered?

There were about 20 courses to choose from, and I had to take at least 8, so the range of options was a bit limited and I had to take some courses that were slightly off my specialization. However, the courses can be freely selected from those 20 courses, and they don’t have to form any “theme”.

Courses were MSc./MBA level courses, taught in English. The regular courses were typically taught in the evening (18:20-21:50). About half of the courses I took were intensive weekend courses. These courses are spread on two weekends (sat & sun), or to one long weekend (fri, sat, sun), with about 8h classes per day.

• For every course that you took shortly the following things: o Course code, level (e.g. undergraduate/graduate), extent (ECTS/credits/hours) o Lecturer of the course and evaluation of the course (exam, case study, essay…) o Describe briefly the content of the course o Your evaluation of the usefulness of the course o Other positive or negative comments regarding the course

Behavioral Economics and Finance (GLP403_G15W)

Graduate level, 3 ECTS

Lecturer: Seiichiro Iwasawa

Length: 7 weeks (7 x 3,5h lectures)

Content of the course

This course will cover basic thoughts and applications based on an emerging new field of economics and finance: behavioral economics and behavioral finance. Behavioral economics analyzes actual behavioral patterns of economic agents which matter in the market. For example, it is known that investors are willing to take profits, but are reluctant to realize losses. The phenomenon is known as “loss aversion.” In the first module, we learn such behavioral biases based on recent development of cognitive psychology, and their consequences in the actual market place. In the second module, we consider application of behavioral economics to consider investment strategies in the financial market. We discuss a number of counter-intuitive observations in the financial market, consider behavioral mechanism behind such phenomena, and develop strategies. By the end of the course, students are expected to be able to develop their own investment strategies, based on their analysis of the agents’ behavior in the financial market. The main learning goals of this course belong to the NUCB learning goal categories of LG-I (critical thinking) and LG-IV (analytical decision making skills).

Grading criteria

1. Mid-term exam (40%): The exam to be held on October 9th covers what we learn for the first four weeks.

2. In-class group presentation (20%): Students are going to form groups, each of which will make a presentation on a pre-specified double starred (**) paper(s) shown above, where quality of the presentation is going to be graded.

3. Term paper (20%): Students are assigned to perform quantitative analysis of investment strategies toward the end of the course.

4. Class participation (20%): Students are required to actively participate in group and class discussion.

Personal evaluation

The best teacher I encountered in NUCB. Very engaging, makes lectures interesting by using creative and interactive methods.

The course was well structured and the main concepts were thoroughly covered. There was a midterm exam (open book), 100min and about 28 questions, so quite limited time. The final project was done at home after the course, and consisted of 10 questions about stock market, and required use of Excel.

This course surprised me positively. The topic didn’t sound that interesting but because of the excellent teacher it was fascinating. However, it wasn’t the easiest course in NUCB, and there is quite a lot of work to do.

Business Plan (GLP507_G15W)

Graduate level, 3 ECTS

Lecturer: Nigel Denscombe

Length: 7 weeks (7 x 3,5h lectures)

Contents of the course

Business Plan is a key general management course that will enable participants to understand how to put together and recommend a well thought out “business plan” for any business situation (big or small) – whether it be for an overall existing business enterprise or focused business unit issue or new market entry or start-up or whatever – that not only fits the future expectations but also logically analyzes the current situation and explores all viable options in order to come up with a decision on what business plan best fits the analysis and stakeholder needs. Cornerstone of the course is final day business plan contest where groups put together their own business plan for review, and show their course learning in the real world.

Grading criteria

20% class participation (quantity) and the quality of comments/questions

20% quality of group work/presentations

20% case study written report (after the course mid-point)

20% business plan presentation (final day)

20% final exam written report (done after the course)

Personal evaluation

Good teacher, a laid back Harvard guy from the States with a sense of humor. Encourages students to participate. However, has a tendency to drift a bit off from the main topic. Focuses on visuals a bit more than the other teachers, e.g. how Powerpoint presentations and written reports look like.

Case study method, so one case was discussed per class. The case was read before the class, then discussed, and finally group presentations were made (questions provided by the teacher). Moreover, there was a group project of making your own business plan, which was then presented in class. Finally, there was a written assignment after the course about the business plan.

Overall quite an interesting and fun course, with a reasonable workload.

Elementary Japanese I (GLP604_G15W)

Graduate Level, 3 ECTS

Lecturer: Naoko Yamamoto

Length: 15 weeks (15 x 1,5h lectures)

Contents of the course

This Elementary Japanese Ⅰ course is designed for the beginning students who have little or no knowledge of the Japanese language. The course will emphasize basic Japanese grammar and conversational skills by using a variety of techniques: working in pairs, role playing and interviewing so that students can better navigate in Japan. Hiragana, Katakana and some Kanji(Chinese characters) will be briefly introduced.

Grading criteria

Class Participation and Assignments 20%

Exams(Final, Mid-term exam and Quizzes) 80%

Personal evaluation

Fun teacher, engaging, lively and encouraging. Less focused on grammar, more on speaking and learning everyday expressions and sentences.

One quiz at the beginning of each class about the contents of the previous class. Two exams (midterm and final). Lots of working in pairs.

Perhaps the most fun course in NUCB because of the topic and the atmosphere in classes. However, personally I would prefer a bit more structured approach, e.g. explaining the basic grammar early on. Moreover, the course lasted 15 weeks, more than any other course.

Enterprise Turnaround Strategy (GLP405_G15W)

Graduate level, 3 ECTS

Lecturer: Osamu Ueda

Length: 2 weekends (sat&sun, 4 x 6h lectures)

Contents of the course

This course is designed for foreign students who are interested in management of Japanese companies facing turnaround situations. In this course, we analyze various turnaround situations which Japanese major companies faced and overcame in the last 2 decades. Upon completion of this course, students are expected to learn what the turnaround process should be and how it should be implemented in the real business situations. In order to illustrate the difference between Japanese and American companies, we will start with IBM turnaround case and then start looking at Japanese companies' turnaround situations.

Grading criteria

60% : Class participation (each day students are evaluated based on the quality and quantity of your class participation, excellent-15 points per day, good-12 points per day, not good-9 points per day, the sum of the above will become your class participation points)

40% : Final report

Personal evaluation

The teacher seemed quite knowledgeable, but not very flexible or encouraging. He had his own ways of seeing things, and was not very open to other ideas. Used theoretical frameworks quite rigidly.

The case method was used, and the cases were quite interesting, mostly about Japanese companies. Group presentations were made about the cases and classroom discussions. Class participation was weighted too much (60% of the grade), which resulted in a hand- raising competition in a huge class (about 50 students). Final report (about 10 pages) was written about the last case discussed and about the course contents overall.

Not my favorite course in NUCB, mainly because I didn’t like the teacher’s rigid and serious style and grading criteria. However, the cases themselves were interesting and the workload was ok.

Global Business Policies (GLP504_G15W)

Graduate level, 3 ECTS

Lecturer: Stefan Lippert

Length: extended weekend (fri-sun, 3 x 8h)

Contents of the course

The course focuses on the strategic, operational, and organizational issues companies face when they decide to go global. We will put ourselves into the shoes of decision-makers at large multinationals as well as SMEs, with a focus on Japanese companies going abroad and international companies doing business in Japan.

Grading criteria

Class participation – 50% of total grade

Final exam (individual) – 50% of total grade

Personal evaluation

Intelligent German teacher with lots of professional knowledge (consulting background shows). Likes to give career advice as well and discuss psychology (e.g. personality traits). Very rational and well structured classes. Not very flexible though, and the atmosphere in classes was a bit stiff. Is also very demanding, really challenges students to think and justify their arguments.

Case method was used to some extent. Classes were quite typical lectures with limited group work and interaction. Some guest speakers from Japan. Final exam was 100min and consisted of 3 parts (theories, 2 case studies).

Quite a useful class with a reasonable workload. Very intensive 3 days though.

Global Strategic Management Control (GLP402_G15W)

Graduate level, 3 ECTS

Lecturer: Takamasa Fujioka

Length: 2 weekends (sat&sun, 4 x 6h lectures)

Contents of the course

The course is designed for students who are interested in working with the international organizations (e.g. UN, World Bank, ILO, ADB etc.), government sector, multinational corporations and professional consulting firms to equip fundamental knowledge about global management from the perspective of management control systems and strategy. This class aims to educate and transform students into competent leaders ready to handle various challenges and complex issues in the era of Asian century. Thus this class focuses not

only on providing Western management frameworks and introducing popular business best practices (global perspective) but also on directing various issues and unique practices (local perspective) specifically related to emerging economy. As the pedagogy of learning, this class will be intensively conducted through two way dialogue on the basis of real world ongoing practices as well as learning from historical cases.

Grading criteria

Attendance: 20 points

Participation: Discussion, Class Preparation, etc. 20 points

In-Class Assignment: 20 points

Individual or Group Final Report or Assignment: 40 points

Personal evaluation

Nice and encouraging teacher. Uses lots of theoretical frameworks.

Quite traditional Powerpoint driven lectures. Two short essays and final report to write (together about 10 pages).

Pleasant course, not too much work and a very likeable teacher. However, the lectures were not very captivating and there wasn’t much interaction in the classes.

International Entrepreneurship (GLP502_G15W)

Graduate level, 3 ECTS

Lecturer: Yuji Nagasawa

Length: 7 weeks (7 x 3,5h lectures)

Contents of the course

This course is designed by two axes. The first is venture management axis. Students face important managerial issues in venture management. Students analyze them from various points of view and gain know-how and mind to solve them. The second is entrepreneur axis. At this course, eleven entrepreneurs of eight companies, of whom five are Japanese and six are global, appear through cases. Students take close look at and discuss their start-up and growth management.

Grading criteria

Class Contribution: 50%

Personal performance: Over 40%

Group performance: Under 10%

Final Report: 50%

Personal evaluation

Very nice teacher, likeable and encouraging. Very interactive classes with lots of student participation. More practice- than academic-oriented teacher, not much frameworks.

Case study method was used, one case per class with pre-assigned questions that were discussed in class. One group presentation per class, assigned after discussion. One final report about the last case and about the learnings during the course.

One of the best courses overall, good teacher, well structured and reasonable workload.

Leadership and Organizational Behavior (GLP506_G15W)

Graduate level, 3 ECTS

Lecturer: Stefan Lippert

Length: extended weekend (fri-sun, 3 x 8h lectures)

Contents of the course

This course examines how people and talent contribute to creating an extraordinary firm. The course focuses on the major domains and theories of organizational behavior including employee engagement, decision-making, managing teams and groups, leadership, organizational structure, conflict, power and how each dimension can help or hinder the accomplishment of company goals. The course also examines cultural and ethical challenges for business leaders and their organizations.

Grading criteria

Team Action Research project 30%

Individual exam 30%

Class participation 40%

Personal evaluation

Interesting class with a reasonable workload. Lots of self reflection. Very intensive 3 days though.

Talent Management and Development (GLP406_G15W)

Graduate level, 3 ECTS

Lecturer: Takehiko Ito

Length: 7 weeks (7 x 3,5h lectures)

Contents of the course

This class covers from classical HRM to modern Talent Management, including leader's development. This class highlights essential HR items, diversity, international people management issue, gender, people development, evaluation and other people/organisational issues including guest speaker session. Each class in this course is driven by case discussion. Therefore, proactive comments and participation will be required and appreciated.

Grading criteria

After Class Discussion, we fixed following components for this class. Thanks for many opinions.

Individual Contribution 60% (Cold Call 20%, Contribution in Group work 20%, Active Participation 20%)

MId-Report 20%

Final-Report 20%

Personal evaluation

Flexible teacher who always gave students a chance to speak. However, his teaching methods and delivery style were not very captivating, so it was difficult to stay focused in class. Moreover, his English was not quite fluent and he kept drifting off from the main topic.

Lectures were quite typical Powerpoint shows, with a couple of interesting guest speakers (Japanese executives). The cold call system was new to me; one student per class was asked to give a short presentation about a pre-defined topic, but the name of the student was always announced at the spot. Therefore everyone had to prepare powerpoints, but only one student would present his. There were 2 short papers to write, midterm and final report.

Interesting topic but poor teacher. However, the workload was very reasonable.

3. Free time and other information

• Cost of living. Possible school fees, books, accommodation, food, and other expenses

Deposit 50,000y

Rent for 4 months 300,000y

Cleaning fee 10,000y

Utilities & common service fee 45,000y

NUCB Scholarship 120,000y

Total payable 285,000y

I had to pay 285,000y (about 2000e) before the exchange (due on 20.8.2015). However, my scholarship was later upgraded to Jasso scholarship (4 x 80,000y = 320,000y) so I received refunds of 50,000y/month while in Nagoya. Therefore the total accommodation expenses (deposit deducted) were 35,000y (about 270e) for the semester.

I only had to buy a course book for the Japanese classes (about 15e), for the rest of the classes the material was provided online or during class.

Examples of other living expenses in Nagoya (approximate values):

One-way subway ticket to city center: 2e

Monthly subway pass: 40e

1kg of chicken fillet at a grocery store 4e

Pack of noodles at a store 0,25e

0,33l can of beer at a grocery store 0,80e

Meal at a fast-food restaurant: 4e

Beer at a bar 4e

All-you-can-drink bar for 1,5h 10e

Night club entrance fee (including a few drinks) 23e

Movie ticket 10e

One-time gym fee 2,5e

Bus ticket to Osaka (about 200km) 16e

Low-cost haircut 8e

Estimated monthly budget (excluding accommodation): 760e

This estimation includes some free-time activities, such as going out and traveling. When looking only at necessities (local transportation, food, etc.), the sum could be cut down to about 430e. Overall the price level is lower than in Finland, especially eating and drinking out, but it’s still not dirt-cheap like many other Asian countries. The price level is roughly similar to Germany, in my opinion.

• Accommodation

The student dormitory (Global Center in Higashiyama) is very luxurious. The rooms are modern and comfortable, and there is a weekly cleaning service included. There is a common kitchen and laundry room (coin operated) and a theater room with a video projector for watching movies. Moreover, there is free breakfast at the dining room during the week at 7:45-9:00. There is also a small gym in the basement. The only downside of the dormitory is that it is a bit far from the city center (10min walk + 15min subway) and you have to walk 10min to nearest grocery stores and restaurants.

• Getting to know other students and free time

It’s very easy to get to know other students because a lot of them share the same student dormitory with common facilities. Moreover, the classes are taken with only exchange students, so the student circle becomes quite tight socially. The downside is that there is very limited interaction with Japanese students in school and it’s very easy just to rely on the exchange student circle for social life, so local social exposure is limited to a lot of students. You can naturally break out of the circle and meet locals, but it’s not always easy as they don’t speak that much English and some are a bit shy. They are interested in foreigners though, and are very polite and usually reply positively if you engage them.

Drinking and going out was one of the main leisure time activities among exchange students, and we also did some trips together (e.g. Okinawa, Seoul). I wished there would have been more sports, it was hard to arrange team sports and the school didn’t really arrange anything sporty. They did arrange some get- togethers at the campus, though, with free food and some socializing. Personally I went to the gym occasionally, and joined Nagoya International Volleyball group in Facebook (games about once per month, 3e/visit).

• General information for the local area, weather, cultural differences

Higashiyama (where the student dorm is located) is a very quiet and safe neighborhood. Overall Japan is a very safe country, and you can walk alone at night without any problems.

Locals are very polite, but a bit reserved and their English is basic at best. Being loud at public spaces is considered slightly rude, as well as public displays of affection. Overall, everything is a bit more discrete than in Europe.

Trains and especially subways are usually full, so don’t expect a seat. There are also a lot of old people in Japan that need the seats more.

There are very few public trash cans in the streets, but you can usually go to a kombini (small 24h shop) to discard your trash.

Weather in September and October was perfect, around +25c and sunny. November was mainly good too, with about +20c and occasional rain. December was about +10-15c with a bit more rain.

• Traveling in the host country

There are lots of interesting places to see in Japan. I visited Osaka, Kobe, Nara, Kyoto, Okinawa, Tokyo, Matsumoto and Nagoya. Kyoto can get a bit crowded in November in weekends because of the autumn colors in the leaves of the trees. Main train stations of big cities tend to be very crowded.

Shinkansen (bullet train) is the fastest and most convenient way to travel between cities, but it’s also the most expensive. Buses and local trains are a lot cheaper, and intercity buses have very comfortable seats and air conditioning.

• Good to know / useful information

QB chain is a cheap and quick place for a haircut, about 8e, 15min. The result was quite good. It’s mostly for men though. They have a branch at Nagoya station, near Meitetsu line.

Izakayas are local bars/restaurants with good food and all-you-can-drink deals. These deals are typically around 10e for 1,5h of unlimited drinking. The menu usually includes beer, whisky + mixer and chu-hi’s (local mixed beverage). Note that some izakayas have a seating charge (around 3e), that is basically like an entry fee. Check this before you order.

Karaokes usually include free drinks as well, and the price per person is maybe around 10e/h.

There are a couple of 100yen sushi places in Nagoya, where all sushi plates (2 pieces) cost about 0,70e. There is one about 15min walk away from Nagoya station called Kappa Sushi, and another one near Osu Kannon.

Some nightclubs like ID Club close quite early, at around 1am. However, there are also clubs such as Ibiza and Vanilla that stay open until 5am.

Note that subways don’t run at night in Japan, between 00:00-05:30. Taxis are slightly cheaper than in Finland, for example from city center to the student dorm around 23e.

4. Final Comments

• Would you recommend the host university to other students? Please give your reasons for the answer.

Yes, definitely. The facilities (school, dormitory) are awesome, the exchange students were great, the locals are polite, food is good and overall it was just a lot of fun. Moreover, Nagoya is a great city to live in. Although it doesn’t have many sights, it is very safe and not too big or too small. It doesn’t seem too crowded but there are still a lot of things to do. Finally, Japan is a fascinating country to explore with a unique culture. The harmony that they seek and that is present almost everywhere is very appealing.

• What did you learn during your exchange?

I learned many things during classes, e.g. about stock market and personality traits. The courses required quite a lot of critical thinking and practical business intelligence and judgment, which will most likely become useful later in my career. Moreover, I learned a lot about Japanese companies, traditions, company culture and Japanese language.

• What did you learn about yourself during the exchange?

Perhaps the importance of determination, positive attitude and self-awareness in all aspects of life. I also found that I want to settle down soon.