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On June 4th, the School of Commerce at Waseda University hosted the second Global Management Program (GMP) Forum in 2024. The event brought together students from Hong Kong University of Science and Technology’s (HKUST) Global Business (GBUS) program and Waseda’s GMP. This joint event was a continuation of the exchange between the two programs since the GMP students’ visit to HKUST last year.

The highlight of the forum was a real-world business case competition where GBUS and GMP students teamed up to develop business proposals for Baseload Power Japan, a company that develops and operates small-scale binary geothermal power plants utilizing geothermal resources in Japan. Teams comprised of students from the two programs were tasked with selecting a target region (Hokkaido, Tohoku, or Kyushu) for Baseload Power Japan’s hypothetical project, identifying potential challenges and outlining the benefits of geothermal power generation in the selected area. Prior to the forum, students engaged in online discussions and presented their ideas in a 3-minute video format. Professor Edman, Associate Professor in charge of the session, and Mr. Sund, CEO of Baseload Power Japan, selected four teams for live presentations of their ideas at the forum.

The four teams showcased creative business proposals that incorporated careful considerations of social and environmental sustainability in the local community. After each presentation, students received feedback from Professor Edman and judges from Baseload Power Japan and the Swedish Embassy. This was followed by a discussion among students in the audience. Students were assigned the roles of different stakeholder groups involved in the hypothetical project, such as local government, NGOs, community, and business owners. The prospects of the business proposals were evaluated from the perspectives of various stakeholder groups. At the end of the session, students and judges voted for the best team and the best stakeholder group.

Kotaro Watanabe, a 3rd-year GMP student from the winning team, shared a description of the team’s idea and overall experience below.

“Our team selected Kagoshima Prefecture as the target region and proposed the idea of supplying electricity generated by geothermal power to frost fans in tea plantations. Kagoshima Prefecture is rich in geothermal resources and ranks second in the nation in tea production. Therefore, we believed that using geothermal power to grow tea would enhance the appeal of Kagoshima tea and attract more inbound tourists to Kagoshima. In addition, Kagoshima Prefecture has introduced large-scale machinery for production, and we identified the potential to supply electricity to machinery used in tea production and processing during periods when frost fans are not in use. However, we also identified challenges such as concerns about eruptions on Mt. Sakurajima, impacts on hot springs, and high implementation costs. As a result of our efforts, our team was awarded the top prize.

In preparation for the presentation, I wanted to deepen my understanding of frost fans and tea production processes beyond what I could find online, so I used weekends to visit Kagoshima Prefecture and meet with representatives from three tea production companies. I learned about the importance of frost fans in tea cultivation, the feasibility of using electricity in production processes, and environmentally friendly tea production practices.

Through this joint session, I was able to deepen my understanding of geothermal power generation and also had the opportunity to reflect on the impact of renewable energy power plant construction on local communities.”

Following the case competition, a networking reception fostered relationships between GBUS and GMP students. The event was attended by Professor Koh, Director of GBUS, Ms. Sharon, Program Manager of GBUS, and six GMP faculty members. Participants enjoyed Japanese cuisine and Wagashi (traditional sweets) while engaging in cultural exchange. The reception ended on a heartwarming note with an exchange of gifts between the GBUS and GMP faculty members.

Chiharu Yanagi, a 4th year GMP student, reflected on the experience: “This session and networking reception showcased the high caliber of GBUS students, motivating me in my own studies. The interactions with GBUS students were enjoyable and will be a cherished memory of my university life.”