2324T1 Tokyo/Reflection
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- Key takeaways or learning points from the course and project
- Quotes from presenter/senior management/owner/founder
- Keep to one sentence for the course and one sentence for the project
All acts of academic dishonesty (including, but not limited to, plagiarism, cheating, fabrication, facilitation of acts of academic dishonesty by others, unauthorized possession of exam questions, or tampering with the academic work of other students) are serious offences. All work (whether oral or written) submitted for purposes of assessment must be the student’s own work. Penalties for violation of the policy range from zero marks for the component assessment to expulsion, depending on the nature of the offense. When in doubt, students should consult the instructors of the course.
Amanda LIM Si Hui
This was a highly enjoyable class that I learned a lot from. We were given the opportunity to visit major companies like SMBC, JPX and the Kajima corporation, that belonged on the Nikkei 225. From this, we learned how major companies were able to incorporate new technology into their operations to cope with ever-changing demands. For example when we visited SMBC, the SMBC representative explained how SMBC was constantly innovating, seeking new ways to use technology to increase its revenue and productivity. There was a SMBC initiative where they provided e-signature services to their clients, as well as facial recognition services. As SMBC also elaborated on the way that they were able to use ideas generated in their Innovation Centre in San Francisco and implement it across its regional groups, I was able to appreciate the degree of influence these large corporations possess. On the other hand, we also managed to capture a glimpse of how Japanese SMEs also make use of technology to continually innovate. For example, we visited ChatPlus, which had to adapt to the up and coming trend of generative AI by leveraging ChatGPT's API for their software to be able to generate questions and answers for clients with minimal client input. They also shared that as an SME, they had to think about how to differentiate themselves from competitors such as Zendesk. To succeed, they disclosed that they used a low price strategy, and are planning to expand abroad. It was inspiring to hear about a relatively small company with 30 employees have such big ambitions. Additionally, I was given the chance to gain a deeper understanding of Japanese culture and its associated customs. We visited the Meiji-Jingu Shrine, and I felt that visits to these kind of cultural sites allowed us to observe how native Tokyo residents behave and interact with each other. I believe that this is valuable knowledge because we we might have a Japanese colleague or business partner/client in the future. In such a scenario, it would be important to show them hospitality, and to take care not to offend them. These kinds of visits also allow us to undertand why Japanese working culture is the way it is. Thus, I felt that culture-based destinations were equally important as the corporate visits and that we struck a good balance between both types of visits during this trip.
AU YEONG Wei Bin
I think that Japan is a really interesting environment for startups, but not in a good way, as the environment here can be quite stifling, as I thought that the “startups” that emerged from existing companies like TradeWaltz from NTT were able to perform so much better compared to startups like ChatPlus. Japan is currently not an ideal place for startups to be.
Beatrice GAN Tong Xin
During the course, I gained valuable insights into the distinct operational and presentation dynamics of companies, highlighting a notable contrast between large corporations and smaller enterprises. Understanding these differences enhanced my appreciation for the diverse approaches companies take in their operations and how they showcase their unique strengths.
CHEAH King Yeh
I truly enjoyed my time during the past week here in Tokyo for the Technopreneurship Study Mission, learning about how startups and companies in Japan grow and thrive amidst the global situation. I am truly impressed by the Japanese culture of hard work and respect, as seen from their presentations, where companies here would give a brief overview of their entire executive management first, before proceeding on to explain about their company. A more interesting observation for me was at Chat Plus, where they discussed about their detailed company information and strategic roadmap -- something which I thought only angel investors would have access to, not normal university students like myself. All the company visits were very interesting and gave me a greater insight as to how technology facilitates progress and functions as an enabler for these companies, like how SMBC is breaking the traditional convention of a corporate bank, TradeWaltz utilising blockchain to move towards a paperless trading ecosystem. What impressed me more was the Tokyo Stock Exchange tour, where we were able to see how technology has completely overhauled the stock exchange market system. In the past, stockbrokers would have to stand at a stock pit and memorise countless hand signals to understand and interpret the actions taken by various traders. Today, these pits have become a thing of the past and are replaced by trading brokerage and trading order systems. Having heard stories from the traders in my previous internships on how chaotic stock exchanges used to be, it was really difficult to comprehend and understand him fully, as I have never seen such a situation before. However, through the tour, we were able to watch how numerous traders and stockbrokers would congregate at the pit, which makes this comparable to how one would go for the best bargain at a wet market! It also fascinates me even more to learn how machine learning is being used in the stock exchange to predict any fradulent market manipulation actions right from the center of the Tokyo Stock Exchange. Another part of the trip that was memorable to me was interacting with 2 of our SMU alumni, Kevin and Timothy. Hearing about their experiences in Japan gave me a better overview and understanding of the Japanese working culture, and their way of life, providing me with valuable insights to add to my consideration, should I receive a successful conversion offer from Nomura and be given the chance to join their Japanese headquarters. The lesson given by Professor Tsujimoto at Tokyo Institute of Technology also allowed me to better understand the incubation and startup culture in Japan, and the tour around their INSTDesign really resembled that of Connexion, but at a much larger scale. From my conversation with Professor Tsujimoto, I asked him about how traditional Japanese companies like Toyota, who are famous for their incremental innovation, are dealing with the radical innovation that are brought about by these up and coming startups. His reply was that these companies have also begun incorporating startup cultures into their research department, and Toyota even provided research grants to Professor Tsujimoto to work with them on innovating their processes. This was a wide eye-opener for me, and showed that the startup culture is slowly opening up and shaking ground in the Japanese culture.
Daniel LAI En Xian
Things Learnt: - I learnt a wide variety of how different sizes of businesses work, especially in the Asian context in SMBC, TradeWaltz (startups, SME, MNCs) - I learnt how culture has a deep impact on how businesses run, and there is no one size fit all kind of situations from Kevin and Timothy - I learnt what are some crucial and critical factors businesses consider at the varying sizes from ChatPlus, Nikon and Canon, TradeWaltz - I learnt the importance of constant research and innovation in the betterment of society from KATRIS, Tokyi Tech Uni and Miraikan Museum
Felice PNG Song Ting
As my first time travelling to Japan, this TSM trip provided me with a valuable opportunity to explore Tokyo and experience its culture at a deeper level. Over the past 5 days, the various organisation visits have helped me understand Japan's company culture better, both for smaller startups and larger MNCs. I am thankful to have travelled to many cultural sites and attractions as well, such as the Sensoji Temple and Meiji Jingu Gaien. Overall, this trip has been a fulfilling one for me
Gerald DING Yu Han
Being in the Organization committee, I oversaw sourcing for companies. There were many difficulties securing companies that we could visit. We were also ambitious in the learning aspect as we wanted a diverse pool of companies spanning multiple disciplines for our class. The one thing I learnt in relation to the learning objective of this class is really to embrace failure. Many people dream of startups but they overlook the failures that might come about, and in certain aspects maybe even overestimating their own minute chance of success. The company visits were a delight as well, as it best showcased how the Japanese thought and worked. The biggest thing that blew me away was their attention to detail and their receptiveness to new technology. While it is true that the changes may come slow, this does not dampen the entrepreneurial spirit that the Japanese have. From a multi-national corporation like SMBC to a start up like Chatplus, from a research institute to their science museum, the Japanese are always on the lookout of how they can best use the breakthroughs in technology for further discoveries themselves or to try and implement them into their daily lives.
GU Yaochen
Despite the initial lack of responses to our emails, the experience provided valuable insights into the cultural of these Japanese companies. It became obvious that direct emails may not be as effective, given the tendency for companies to filter out email from overseas. Many successful partnerships, we discovered, are initiated through the official forms on the companies' websites. However, this may not be applicable for requesting company visit. Moving forward, we recognize the significance of relationships and connections during company sourcing. In the absence of responses, our strategy now involves reaching out to professors or friends from internships who can facilitate connections. This journey has not only expanded our network but also taught us the importance of understanding and adapting to the preferred communication channels of the Japanese business community.
Isabelle SIM Hui Ting
I learnt more about different technologies outside of what we are usually exposed to, eg. Kajima was a unique experience we got to understand how IT plays a part in construction and engineering. SMBC was also interesting to see how they were diverse in their offerings apart from banking. Tokyo Tech was a great opportunity to also know of other initiatives started by entrepreneurs but it would have been good if we were able to meet with some of them to understand their motivations and businesses. From both SMBC and Kajima there was a factor of environmental awareness such as the carbon calculator and carbon concrete.
Joel TAN Ee Chien
I have learned that Japan has a really strong culture of going slow and steady with rigid processes and hierarchy to follow. Some companies and MNCs are trying to change that but there are still influences of the culture that remains in most of these companies. The one thing that is really interesting is that this is something that the government recognises and is also working towards changing. For example, we visited TradeWaltz which is using blockchain technology to revolutionise the logistics industry. The impression is that Japan being very structured, will not be moving ahead with TradeWaltz. However the country recognises the importance of using blockchain and hence they are in onboard to fully support TradeWaltz. Hardly do we really see culture and work being mixed in, but in Japan, you see how the country and companies tries to preserve the culture while keeping business goals and needs at the forefront. It is interesting to see this yin and yang approach being done and I wonder if this approach aligns with ideas like ikigai and loyalty.
Keith LOH Jing Jie
Personally, I found this study mission highly enriching. I have had many takeaways from the multiple companies we had the pleasure of visiting and I will be expanding on the 3 main takeaways in detail below. The Japan scene is expanding with a lot of support from the government, and universities however, the local Japanese people are more reserved and prefer to work in an MNC. Tokyo Tech is actively trying to cultivate and encourage their students to start a start-up, cultivating more start-ups in Japan. I could feel the professors’ passion regarding start-ups when he shared and even asked the QnA sharing about how MNC’s could be more dangerous then a start-up with his example of SHARP, what are the key attributes he has seen in successful start-up founders and how we should take every opportunity we can get. Kajime, was interesting and showed us some of their cool innovations such as their carbon negative concrete and steel fibres concrete which were really innovative and potentially world changing solutions if their cost can be lowered. It made me realize how innovative the Japanese are and how involved they are even in the construction of Singapore (SMU Law School). TradeWaltz, was another start-up we had visited, and they were trying to tackle the inefficiencies in inter-border trade. I found it really interesting as while in SCIS I learn a lot about digital transformation I never thought it could be applied like this and yet TradeWaltz managed to identify a problem and product a solution to fix it! Additionally, it was interesting to hear about the struggles they face as they have to get buy in not only from the Japanese government but also other nations and how it was not an easy tasks and other countries could easily copy their idea and business. In summary, it made me realize the struggles one might face starting a start-up or even challenges an MNC might face with cost, regulations and how these passionate individuals are making change and innovations around the world.
LOW Li Xuen
Through this class I have learnt about how a start-up can grow and become more successful, the work culture in Japan, as well as how top companies operate to stay competitive in their respective industries. Firstly, by visiting companies such as Chatplus and Tradewaltz where they transparently shared their origin, current business values and projected obstacles, I was able to learn a lot that I never knew before. Then, having a candid dinner with our successful alumni taught us the true difference between working in japan and singapore and how they overcame all their personal challenges outside work as well. Lastly, companies such as SMBC and tokyo stock exchange have shared their stories to success as well.
Megan THONG Jia Yi
From visiting Japanese companies of not just different industries but also different sizes, I learnt about the various opportunities in Japan. I am considering living in Japan one day and it was interesting to see how different companies work, and realise that big companies are not the only way to have a good career. I really appreciated how the company representatives were all very enthusiastic about sharing their company's story, and also excited to learn more about SMU and our group.
Randall YEO Sheng Kai
During this trip, I really learnt a lot about entrepreneurship from the start ups as well as scaling and innovation at MNCs like SMBC. Start-ups such as TradeWaltz and Chatplus gave me an insight as to how a start-up needs to see the business value it brings to its customers. They would always put the customer at the forefront before building their solutions. I was amazed at all these start-ups as they are profitable in a short span of time. This gave me a little boost of confidence that someday I can also succeed in building one in the future. One of the more interesting companies were visited was Kajima. I was surprised when I heard they also built our law building. I mostly learnt about the different ways they research different problems and how they approached questions regarding sustainability.
Regine TAN Wei Ting
I have learnt that entrepreneurship is something that really requires a lot of cooperation amongst like-minded people. With the like-minded people supporting each other, an ideas could be born and re-iterated into fruition, something like TradeWaltz and ChatPlus to become what they are now.
Reiko LEE Peishan
The technopreneurship study mission trip was a captivating exploration into the dynamic realm of business and technology. As I delved into the Tokyo Stock Exchange, the impact of automation and the post-COVID-19 surge in remote work became evident. The stock trading game, though not reflective of reality, highlighted the disparity between virtual gains and real-world financial success. At the Canon Museum, despite its promotional tone, I recognized the crucial link between showcasing technology and engaging consumers. Trade Waltz, employing blockchain technology, presented a practical solution for streamlining import and export processes, showcasing the transformative potential of technology in traditional industries. My visit to Kajima Technical Research Institute was enlightening, uncovering their role in constructing iconic buildings in Singapore. The emphasis on cultivating relationships with key clients, as seen in their work at Changi Airport, underscored the importance of strategic partnerships in expanding businesses. The Tokyo Institute of Technology's encouragement of foreign students to drive change shed light on the challenge of breaking through Japan's reserved nature. It highlighted the role of international collaboration in fostering innovation, especially in a culture hesitant to embrace change. Finally, the Nikon Museum showcased the imperative for businesses to adapt and innovate over time. Observing the evolution of technology reinforced the significance of staying relevant, anticipating change, and consistently improving product quality for sustained success. Overall, the trip provided me with a nuanced perspective on the intersection of technology, entrepreneurship, and cultural dynamics in the business world.
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