November 2003
		Over the summer of 2003, the University of Michigan Business School launched its new Positioning Statement - Leading in Thought and Action. But more than just a statement, the ideas behind those words are brought to life through the student body. EAMDC found several examples of those living concepts among the students of the Asia Global MBA Program.
		LEADING ...
		What does it take to lead? According to Yusuke Kurogi, a 16-year veteran of Japan’s Mitsubishi Heavy Industries, and their Project Manager for Power Systems International, judgment and risk assessment are keys to success. “Leaders put forth ideas, they listen to and guide the specialists, and then they take responsibility for the final judgment on how to move forward. Business is like walking in a mine field — there’s no map for the future.  Leaders' decisions are most important in unknown situations.  If the situation is clear, then everybody could decide and 'leader' would be an easy job with high salary” “Good leadership depends on decision-making that comes from 1) a strong base of knowledge, 2) valid theory, and 3) an ability to navigate risk.” “This course work is improving my leadership ability by building upon my base of knowledge and challenging me to think in new ways.”
		… in THOUGHT
		Of course students come to a University and expect to spend time thinking. Jane Chen of Taiwan’s Chang-Ho Fibre is finding that she’s not only adding to her intellect, but also evolving in her way of thinking. “The professors here are really good. I came with an idealized view of Western business practices, but Professor Lim taught me that there isn’t really a ‘right’ or ‘wrong.’ The best idea is to blend the best qualities of both Western and Eastern methods. And Professor Karnani challenged us to not limit our views, but look at the whole picture. He pushed us to process information quickly and make wise decisions efficiently — extremely valuable skills in the business world.” “I’m pleased with the program. It’s a good environment to build knowledge, skills and connections. The contributions of real-world examples from professors who have business experience outside of school are especially good. It’s more practical than I thought it would be.”
		… and ACTION
		What good is knowledge if you don’t put it to use? As the Manager of Tax Accounting for POSCO, one of the world’s largest steel companies, Sun Kyu Lee has a clear plan for putting his new ideas into action. Following his successes in negotiating between the Korean National Tax Department and POSCO, Mr. Lee will continue his work to reform the Korean tax laws. “I’m taking many accounting and taxation classes and I plan to become a Certified Public Account before I leave the U.S. It’s very challenging, but the advanced concepts of American tax law that I’m learning will help me take steps to reform the Korean tax law.” “In the past I’ve worked with tax reform groups and directly with the Korean Ministry of Finance and Economy. Now, I’ve got a larger base of knowledge that will help me take further action.” “Before I came to the University of Michigan, I imagined that I would have to work at linking the information to my operations. But I’ve found the knowledge here is so practical. I am learning how to apply the knowledge to real world business practices. It’s more valuable than I guessed.”
		After a year and half of intensive studying, students will use their knowledge and years of corporate experience in Asia to solve real-world problems in this final practical exercise of their academic career. Corporations interested in gaining the benefit of top-quality consulting at virtually no cost should consider hosting a MAP project. All information about our 2004 MAP Project – including application information – is available in the Downloads Section of the EAMDC website.
		The Michigan MBA Program is designed to provide students with a first year of rigorous and diverse educational experience in every business function that will confirm, redefine or entirely redirect students’ original career goals. Year Two gives them the freedom to customize their studies to cultivate the skills and expertise they need to reach those goals. Taeseop Kwon of Korea’s Kyobo Life Insurance Company can testify to this experience. “When I first applied to this school, I thought I would take only finance and accounting classes because I really love numbers. I also thought that I should study financial techniques in order to help my company’s success. But since I took strategy and management classes during the core courses, I realized that there are other factors that affect a company’s performance — not just numbers. Now, I will definitely take more strategy courses.” Class of 2004 Students are bidding for their Winter ‘04 Term courses October 27th through November 3rd. Mr. Kwon says, “The core courses were good for me.”
		Individuals who are selected to join the Asia Global MBA Program form an elite cadre of students who blend the best qualities of thinkers and doers. After spending several years in the corporate world, they bring a practical knowledge to the classroom. Among these leaders, a few individuals distinguish themselves further from the pack through outstanding academic achievement. In the AGMBA Class of 2003, the following students exceeded the University standards to graduate with honors: High Distinction Toshihiro Hagiwara RECOF Corporation Distinction Sung Min Jo KVCI Distinction Jin Hoon Myung Daewoo Securities Distinction Sangchul Shin Meridien Venture Partners High Distinction Bok Seung Yang Korea Development Bank In the AGMBA Class of 2002, the following students exceeded University standards and graduated with Distinction. They are:    Tomoyuki Asada of Mizuho Bank Kimyung Nam of Woori Bank    Sangok Baek of Daewoo Securities Jeewoong Park of SK C&C    Seokmoon Choi of SK Telecom Sangpil Park of CDIB Venture Capital    Myungho Kim of Hyundai Securities Sung-Choon Ryoo of Deawoo Securities Additionally, Takushi Maekawa of Sumitomo Bank graduated with High Distinction. Congratulations to these outstanding scholars!
		As with all strong businesses, EAMDC and the University of Michigan base part of their success on the foundation of good relationships with strong partners. This year, with the acceptance of Kenichiro Morishima, Logistics Planner and Manager of Logistics and Raw Material Process Management Department, into the AGMBA Class of 2004, we are pleased to welcome Nippon Steel Company into the EAMDC community as a partner company. Nippon Steel Corporation is one of the top 5 major steel companies in the world with over 24,000 employees world-wide and annual steel production approaching 3 million tons. In the last 3 years, the world steel industry has changed dramatically. Struggling with cutthroat competition and declining prices in steel-made products, many companies in Japan and around the world made drastic decisions such as strategic alliances, mergers & acquisitions. When the dust settled, Nippon Steel emerged from that volatile period as a streamlined, agile and aggressive company. Nippon Steel managed to maintain its position as one of the world’s top steel companies through a combination of consistent product quality provided by their high-tech production techniques and the scale economy afforded by their large size. Now focusing on increased profitability over scale and further development of strategic alliances over mergers & acquisitions, Nippon Steel is on a dynamic trend. With their established culture that strives for innovation they will continue to explore new markets and new technology. One of those innovations is being developed by Mr. Morishima by utilizing the skills and knowledge he is gaining at the University of Michigan. As the manager in charge of shipping contracts for 80% of Nippon Steel's raw materials, Mr. Morishima is working to develop a financial method of evaluating the best combination of long-term, medium-term and spot shipping contracts. Fluctuations in shipping costs are similar to fluctuations in the financial market and Mr. Morishima seeks reduce the risk of fluctuating market rates through the highly quantitative analytical skills of financial engineering, thereby improving the overall outcome and profitability.
		For questions or concerns regarding this newsletter, contact: Stephanie Anderson Editor, EAMDC Newsletter EAMDC-Editor@umich.edu