Learning through gaining a global perspective

Often described as an entrepreneurial haven, San Francisco and Silicon Valley are the bright lights for those looking to kick-start their own business in the United States.

Taking a page out of the American playbook, The University of Western Australia (UWA) and AIM WA are collaborating on an International Study Tour providing participants with an immersive learning environment.

Open to UWA Master of Business Administration (MBA) students, business leaders and executives, it will offer a chance to see what building a business from the ground up looks like in one of the world’s most recognised entrepreneurial and innovation hubs.

UWA Business School Economics Senior Lecturer and MBA Associate Director Paul Crompton AFAIM said participants undertaking the tour would be able to witness something completely different to what had been seen here in Perth.

“A lot of our students are born and raised in Perth, and they have spent their entire career in Perth,” Dr Crompton said.

“The tour will expose students to an alternative perspective and way of doing business."

“The speakers will be talking about a variety of issues, including entrepreneurship, innovation, starting new businesses, business successes and failures, venture capital, joint ventures and more.

“The tour will expose the participants to this unique business ecosystem.”

Tour agenda

Spread over seven days, the tour involves a series of company visits and speakers talking about their area of expertise, according to Dr Crompton.

“We will be spending a day at Stanford University, where Professor George Foster will present several case studies involving new business startups in the technology sector for the students to look at.”

Dr Crompton said the tour featured globally renowned companies such as Google, Tesla, LinkedIn and Deloitte.

“Participants will have the opportunity to find out more about what these companies are doing and obtain insights into what they think the technology landscape will look like over the next five to 10 years,” he said.

“The students will be there – in front of company representatives and entrepreneurs – engaging with them, asking questions and enjoying the experience.

“It’s fairly immersive in that participants are actually going to these companies and experiencing what it is like to be part of that particular network of people.”

What are the benefits of undertaking an international study tour?

Dr Crompton said a benefit of heading abroad on a study tour was to encounter another way of thinking.

“It’s a completely different mindset in the US,” he said. “A past tour speaker said failure was almost frowned upon in Australia, so if you start a business and fail, it really can damage a person’s reputation.

“In the US, failure is not necessarily seen in such a negative light – rather, it’s seen as a stepping stone on the path towards success.

“It’s a real eye-opener for many students.

“It changes the way they think and makes them a bit more willing to take a risk in what they do in the future.

“Rather than working for someone else for the rest of their lives, they begin to think about how they can work for themselves and what business they can start.

“However, whether they want to start their own business or continue working within a company, the entrepreneurial mindset they bring back is a definite advantage.”

Additionally, Dr Crompton said it was a great way to meet like-minded individuals and enjoy an enriching cultural experience.

“It’s a really good way for students to get together and bond as a group, and really establish lifelong friendships on the tour,” he said.

“It’s a big cultural experience for them, with students being able to see football or baseball games, and really immerse themselves into the American culture.”

Dr Crompton said the study tour would also help students to gain credit towards their MBA.

“The UWA Business School has an alliance with AIM WA, which allows students to use the unit as an elective towards their MBA and get full credit for it,” he said.

Where to from here?

This year's International Study Tour has now sold out. Join the wait list for next year and avoid missing out by emailing execed@execed.com.au