Immersive Field Courses: IFCs require a firm commitment and carry a financial obligation. Financial aid is available in the form of a student loan, a need-based HBS scholarship, or a combination of both depending on your individual circumstances. The Add/Drop process at the start of the term is the mechanism for any IFC enrollment changes, and, after that point, the course fee is non-refundable. Refer to the GEO website for full details on IFCs and be sure you understand the Course Policies and Course Fee & Financial Aid. Visit IFC Financial Aid for a quick assessment to determine your eligibility and process or contact finaid@hbs.edu for more information.

Enrollment: Limited to 48 MBA students (due to the nature of IFCs, auditing is not permitted)

Career Focus

Through first-hand exposure to entrepreneurial and intrapreneurial leaders who are transforming the Japanese business landscape, students in this course will deepen their understanding of strategy and innovation in organizations operating in Japan’s increasingly vibrant startup ecosystem. This course will appeal to students who wish to acquire an understanding of alternative leadership styles and business models aimed at simultaneously creating economic and societal value in a rapidly changing world. The course, which will adopt a general management perspective, aims to expose students to individuals who seem uniquely capable - in a uniquely Japanese way - of bridging the past and the future to be great leaders in the present.

Educational Objectives

The past decade has seen a remarkable surge in VC investments in Japan, with a total of $6.3 billion poured into the country’s startup ecosystem in 2021, setting a new record. This influx of capital has paved the way for greater success among startups, leading to increased returns for VCs and attracting more talented individuals to the field. As a result, the VC industry in Japan has gained greater legitimacy and maturity, with even the Government Pension Investment Fund investing in venture capital as an asset class. From cutting-edge robotics to technological art, from big data to nano-devices, Japan has become a hub for innovative projects that, despite their seemingly unconventional nature, have achieved considerable success. This course will expose students to a diverse range of pioneering organizations and business models, with the aim of achieving four specific learning objectives.

Firstly, it provides students with firsthand experiences and insights into the distinctive challenges and opportunities of entrepreneurial activity in Japan. Secondly, it demonstrates how innovation can arise from combining seemingly contradictory or paradoxical elements, such as digital and analog, old and new, or big data and human touch. Thirdly, students will have the opportunity to learn from social entrepreneurs and intrapreneurs who have developed innovations with a social purpose. Finally, the course will expose students to Japanese culture and traditions, allowing them to gain a deeper appreciation of this unique society.

Course Content and Model

Overview and Introduction: Students enrolled in the Immersive Field Course: Japan will work in small teams to undertake a project with an organization led by an entrepreneur or intrapreneur based in Tokyo. The course will meet for four on-campus sessions to (1) provide students with a basic understanding of the Japanese entrepreneurial ecosystem, (2) highlight some of the challenges and opportunities faced by entrepreneurs and VCs operating in Japan, (3) discuss how some emerging business models lend themselves to new forms of organizing, and (4) allow time for student teams to work together, engage with their project partners to define and scope the projects that will take place in January, and to prepare for travel.

Projects: By the start of the course, project partners will have submitted a brief description of the business problem they would like students to address during the immersion. Before the second on-campus session, student teams will be formed. We will do our best to allocate students to their preferred project partners. In the period from October to December, student teams will engage in conversations and early work with project partners (scope the project, request/receive additional information, conduct telephone or Zoom interviews, develop early hypotheses, develop a work plan, etc.) in preparation for the field work that will take place in Japan. During the first and second weeks of January, student teams will visit and work closely with their project partners in Tokyo and vicinity. Being in Japan, will present an opportunity to assess the market/organizational environment by talking to customers, suppliers, government officials, and related organizations, as needed. Project teams will develop a set of recommendations before the last day of the immersion period in Tokyo.

Deliverables: Student teams will present their recommendations to the project partners on Wednesday, January 17. In addition, each student will present her or his personal take-away on an individual basis at the Capstone event on Wednesday, January 17 afternoon. The audience for the Capstone session will consist of project partners, JRC staff members, local team members, HBS alumni, and others. Finally, project teams will submit a final report by Tuesday, January 30. Final grades will consider: (i) participation and attendance during the four class sessions in the Fall semester; (ii) engagement with project partners during the months leading up to the Japan trip; (iii) on-site activities in Tokyo and Tohoku; (iv) feedback from partner organizations and peers on project work; and (v) the final report.

Tours: Students will have the opportunity to take part in company visits as well as various cultural activities in Tokyo and the Tohoku region throughout their 10-day stay in Japan. Students will come to appreciate unique business protocols practiced in Japanese companies - e.g., exchange of name cards, silence in elevators, empathy to co-workers, being on time, etc. - that contribute to Japan’s unique approach to entrepreneurship. They will also develop an understanding for why the Japanese live long (diet, hot spring, respect to the elders, etc.) and why many Japanese companies are long lasting (more than 600 companies over 300 years old).

Accommodations and Activities: Students will experience two different types of accommodations. In Tokyo (where the majority of overnights will take place), students will stay at a modern downtown hotel near Ginza (similar to Fifth Avenue in New York City). During an excursion to the Tohoku region, students will stay at a traditional Japanese ryokan, where they will soak in public, hot spring baths (Onsen) and eat dinner wearing a yukata. Please note that students will engage in volunteer work during their stay in Tohoku, including physical labor (e.g., collecting wood, removing rocks, or cleaning shells) and advising a mayor as well as local entrepreneurs /NPOs. In Tokyo, students will learn about Japanese culture by visiting a Shinto shrine and a Buddhist temple, Akihabara (electronics center and home of geeky cafes), edgy fashion town of Harajuku and Shibuya, department store basement (depa-chika), etc. as well as by experiencing sushi-making, sumo wrestler live practice, and riding the bullet-train (Shinkansen).

Course Credit and Fees

Students will receive 3 credits upon successful completion of this course.

HBS will provide logistical support for the immersion (including accommodations, select meals, and local travel arrangements). Students will be charged a course fee of $3,000 towards defraying a portion of these costs. Students are responsible for booking and paying for their own round-trip air travel and any costs associated with required visa documentation and immunizations. Students should ensure adequate processing time for all visas, as travel fees are not refundable if a student does not secure visas on time.

For detailed information about what the course program fee includes and excludes, as well as information about student accommodations, please visit the GEO website or email geo@hbs.edu.

Financial aid is available in the form of a student loan, a need-based HBS Scholarship, or a combination of both depending on the student’s individual circumstances. Please review the quick self-Assessment tips to determine your eligibility. Contact finaid@hbs.edu for more information.

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