In the program for the international students of Yokohama National University, the students are required to design their own “virtual” business plan.
In the program, I had four classes:
(1) Logical thinking: for making thier plan logical and convincing
(2) Problem solving: for getting analytical skills
(3) Business data analysis: for their quantitative approach
(4) Business financial planning: for making a profit simulation
We found that the students had difficulties in making reasonable assumptions when making a business plan, which made the plans unrealistic sometimes.
In this semester, we started a new class called “Business assumption making” for the students.
In the class, I will touch on the four common techniques:
A) Fermi estimate
C) Research-based approach
D) Goal-based approach
The students will have a skillset to make reasonable assumptions based on a technique or some combinations of the techniques.
The class is all discussion-based and here is an example of the assignment:
Another example of the “benchmarking” class:
Please let me know if you are interested in the extremely practical business class at university.