Philippines Study Tour – A New Perspective on Business

James Wu, Bachelor of Commerce and Bachelor of Laws student, talks about his experiences on the Philippines Study Tour.

Why did you choose to take part in the study tour?

I already had some experience with student consulting clubs and societies, so I was looking for something a bit different. I was interested in the 2020 Philippines Study Tour because it was an opportunity to work with a diverse group of clients and colleagues. Not only are the clients you are working for international, but the organisers and fellow students are also from all around the world. I’ve always been interested in international business, so this was a big draw card. From a personal perspective also, in BUSS1000 we had talked about companies moving from being all about profit to considering their impact on society, and I was interested to see how that might play out in the real world.

James Wu and colleagues from the Philippines

What was your experience like in the program?

The program is in two parts – the first part is the cultural immersion, where we were able to meet members of the indigenous community, as well as talk to a social enterprise farm. We gained some valuable cultural insights and developed some understanding of why these are so important in consulting. The second part is working with an actual client. We were lucky enough to work with Virtualahan, a social enterprise that provides Filipino people with disabilities with training to help them develop skills and boost their self-confidence. They also source job opportunities globally to help give people a chance to find a job. Our project was about helping Virtualahan to create a model to help them become financially sustainable, without comprising on their core cultural values.

How did you solve the problem?

To come up with effective recommendations, we needed to understand the cultural perspectives. For example, our client wanted our advice on restructuring the cash flow, but our initial recommendations were not as culturally aware as they could have been. So we needed to revisit and reshape. We were also really lucky to have direct access to a client – usually with in class and student consultation clubs the client already has some experience and there is a pretty tight brief – to be able to really engage with the client was definitely eye opening and challenging – but in a good way!

James Wu

What were the key insights that you gained?

I would recommend the program for anyone who is interested in social enterprises and understanding how business can play an important role in changing peoples lives. One company we worked with had a no firing policy. At first I didn’t understand, but then they explained that they want their employees to have security, because this can help build a better life.

Has the project changed the way you see your future?

I definitely want a career in business when I graduate, but the Philippines Study Tour made me reflect on how do I want to conduct myself in business? Seeing the real and practical differences that some of the social enterprises made has encouraged me to think about the role of business and the difference it can really make. Its worth the time to take the unit – just do it! 

Applications for the Philippines Study Tour 2023 open at 9am August 1 2022! See the full details and how to apply. 

Innovating for Business Opportunities Where Ideas Never Sleep

New York City is an assault on the senses – overwhelming, loud, a home to almost 9 million people. While some would describe this combination as big, bold and brash, it is a strangely welcoming city. 

At every corner there is a feeling of incredible opportunity and abundant evidence of a long history of entrepreneurship. Backed by the belief that failure drives important lessons, a desire to discover and innovate, and a strong venture capital funding network, it is little wonder that New York is one of the main cities outside Silicon Valley that is named consistently as one of the best start-up locations in the US. 

The main objective of the US Study Tour is to learn how to create opportunities in business with a commercial impact. Twenty Bachelor of Commerce (and combined degree) students were selected to participate in the two week program at NYU, Stern Business School’s start-up lab. 

Informed by design thinking principles, the unit offered students practical and theoretical insights into identifying opportunities, research skills to build an understanding of customer needs, pitching skills to sell an idea and cross-cultural skills via insights into business in the US. 

With a profound interest in start-ups, the opportunity to carry out the methodologies behind the development of a product was immersive. Upon listening to presentations by key figures within the start-up space and having the privilege to hold personal conversations with co-founders and investors, I gained invaluable insights that enriched my perspectives on potential career opportunities. - Daniel Tran 

Luke Williams, Founder of NYU Innovation Labs & CEO of Meta Idea Labs

The program broadened my horizons on what it means to be an entrepreneur and innovative. Hearing the thoughts of so many founders and individuals in this space made me realise you don’t have to wait around until you have an amazing idea. Some of the best advice I heard was to just jump in, because it is okay to fail. - Cameron Gonzalez 

                           

Hosted by Professor Cynthia Franklin, the program at NYU Stern Business school incorporates a unique and outstanding line-up of academic insights, startup panellists who speak genuinely about their lived experience, investors who provide reflections on what they look for in start-ups and pitch experts who challenge students to think about how to 'spin' a story and engage an audience.  

Student Tom Serrone described the US Study Tour as a "first-class learning experience" that allowed him to "witness and interact with the start-up economy in New York whilst also thinking about design thinking and disruption."

This first-class learning experience also proved to be of practical value, with Marketing student Chelsey Jayadiwangsa believing her ability "to apply design thinking tools to reimagine problems and ideate customer-centric solutions" will be carried into her future professional endeavours. 

In addition to learning about innovation and entrepreneurship, students are exposed to career and personal brand building tips, networking events and activities and business insights through site visits to Boston Consulting Group (Digital Ventures) in Sydney and NY, the American National History Museum, cultural consultancy and trend spotters Sparks & Honey, and a network event hosted by the North American Alumni Association. 

"The alumni event was a great chance to mingle with former University of Sydney students and really get a feel for how this university stretches our opportunities," said student James Scott. "As someone who is eager to work in New York at some point in my career, it was very refreshing to see so many people making the leap and giving me a lot of confidence in making this big move myself within the future.”"

The opportunity to listen to the experiences of entrepreneurs and the exposure to the dynamics of New York City provided "invaluable knowledge, amazing memories, newfound confidence and excitement for the future," said third year Commerce Law student Rowena Young. 

"I ended up having incredibly genuine and fun conversations with people who imparted all sorts of wisdom. Living, eating and breathing with my group members was also a new experience that taught me patience and the power of collaboration. My only regret? The program was over before I could grab my third slice of artichoke pizza."

US Study Tour 2019