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.
Another piano cover of the Beatles’s song.
It is one of the greatest songs in the early days of the Beatles history.
It was long after I started collecting the Beatles songs that I finally got the song as “Past Masters” record was not officially sold at that time.
This is a very interesting presentation as the final exam of my “Business statistics” class at Yokohama National University in Japan.
My classes are all for international students and this is work of a student from Vietnam.
The students learned how to set a practical goal and how to effectively use some analytical techniques to support the conclusion(s).
The student tried to find out the difference of the students from two different countries, Vietnam and Japanese in terms of GPA and objectives to learn at university.
While the sample size is small and the conclusions are not necessarily surprising, the approach and analysis itself was quite interesting.
My class is not just to teach some academic analytical techniques but to teach how to apply those techniques to meet practical goals.
I would be happy to give my lecture anywhere in the world.
This is an assignment of another class “Business data analysis” at Yokohama National University.
Students are required to develop their own story, supported with the analyzed data.
This is the key skill-set when you apply those analytical techniques to the practical business issues/proposals.
We have already experienced several similar exercises at the class and I am so excited that they will enjoy it and present interesting insights.
Please send me an email if you / your organization would like to try those lessons/lectures.
Final exam case was announced last week.
The students are required to complete their own business financial plan and give an individual presentation in two weeks.
This is the case:
There is no “right” answer but the plan must be feasible and reasonable while meeting all the business requirements given in advance.
They have already learned the techniques to develop a business financial plan.
Making reasonable assumptions and adjustments to meet the requirements are the key!
Good luck and enjoy it !
I saw great progress of my students to develop their own financial plan with business strategy.
It took only three months to achieve it, who did not know even what “Revenue” is in April.
Here is an example output of a student in the class.
The business case was “web site developer” where you need to develop a business plan to reach positive profit within a year.
Reasonable business strategy in line with the assumptions in the business model is also required in the presentation.
This is a fundamental and basic business skill where you will be required in any type of business in the world.
I would be happy to discuss a chance to conduct the class (even as an intensive program).
This was an exercise at my biz data analysis class in Yokohama National University for the international students.
The topic of the class was “Data visualization/illustration”. After learning some basic types of graph such as bar chart, line chart, pie chart, Histogram, scatter diagram etc., they tackled the following question:
Assuming that you are required to effectively illustrate the sales results data and report your conclusion to the boss.
Data is quite simple but not easy to find an effective way to summarize the data.
(1) Determine your final key message to report to boss
(2) Study the best way to summarize the data to fit the message.
In my class, the students discuss thier own outputs on how they can improve it.
Some examples are:
You can compare the results by product to identify the best selling product and where is the hot area.
This is an “area-wise” view with product-wise breakdown. You can identify strategic potential area and which product may fit the market.
This simply shows the ratio by product type. No detail about the area but it delivers which products are selling more in a very simple way.
What is the answer? No single “right answer” here. It all depends on your final message.
This is a good exercise to have practical “data managing” skills which will enhance your business competitiveness.
Would you like to try the lesson? Please contact me.