ILE282: ENGINEERING MANAGEMENT (2nd Assignment) 2.9 Question Answers
2.9 The Office Equipment Company is headed by Glen Jordon, President, who is supported by four people: Ray Fisk, VP Sales, Terry Buford, VP Manufacturing, Fred Hunter, Director of Research, and Bob Christian, Director of Corporate Planning. The company has produced typewriters, calculating machines (desktop with paper tape), accounting machines, and tabulating equipment in the last 40 years. Until two years ago, the company performed well, based on
A. Reputation for quality products and services.
B. Sales increases over the years.
C. Rate of return better than others.
D. Engineering research concentrated on improving existing machines, with new models every few
years by introducing small incremental changes.
However, there had been some significant changes in the last two years. For example:
A. Typewriters sales continued to increase.
B. Sales of accounting machines and tabulating equipment become stagnant.
C. Sales of calculating machines dropped more th.....
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ILE282: ENGINEERING MANAGEMENT (2nd Assignment) 2.7 Question Anwers
2.7 There are always risks associated with the experimentation of a new manufacturing process or with the entry into a new global market, the risks of failure. How should one decide to proceed or not to proceed with a risky venture? What is the proper level of risks to take?
All new ventures have inherent uncertainties. In deciding to take the risks of going forward with the venture, several questions need to be answered first:A.Should it luckily turn out to be successful, what is themaximum pay-out (e.g., value) of the venture?B.Why is the venture deemed to be risky? How likely are allrisk factors expected to play out in reality? What contingency steps are available to minimize the impact of these risky factors? Answers to these questions will lead to an assessment of the probability of success for the venture. C.Should the venture fail (e.g., time delay, reputation,company bankruptcy, loss of market share, etc.), what is the adverse impact on company?
ILE282: ENGINEERING MANAGEMENT (2nd Assignment) 2.6 Question Answers
2.6 Quality may be defined differently by different people in a company. Explain why that is usually the case. Which quality definition is the correct one for the company to adopt?
ANS: Quality is a perceptual, conditional, and somewhat subjective attribute and may be understood differently by different people. Producers focus on specifications while consumers focus on fitness for use. The company should adopt the one that covers both the producers and service sectors. Quality of a product or service is its fitness for meeting or exceeding its intended use as required by the consumer.
ILE282: ENGINEERING MANAGEMENT (2nd Assignment) 2.4 Question Anwers
2.4 Mission and value statements are indicative of the directions to which a company is headed. What are typically included in the statements of Mission and Value of some well‐known companies in the U.S.? Please advise.
The mission and value statements include: who they are, why the company exists, whom they are serving, and how they operate to effectively carryout the mission. it should be as follows:
Say why the company really exists
It should be short and sweet
Consider long term and short term
Test it and revise it often
ILE282: ENGINEERING MANAGEMENT (2nd Assignment) 2.3 Question Anwer
The company has always been focused on the high‐quality high‐price end of the market. Now, market intelligence indicates that some competitors are planning to enter the low‐price low‐quality end of the market. What should the company do?
The company should design and implement planning horizons as follows :
Do market research
Use competitor intelligence
Further reduce prices
Interpret massive amounts of market intelligence
Further reduce cost
ILE282: ENGINEERING MANAGEMENT (2nd Assignment) 2.1 Question
2.1 On the eve of leaving his alma mater, Joe Engineer remembers the encouraging words of the commencement speaker, “Graduation is the happy beginning of an exciting life ahead.” He is of course excited about his new Master of Engineering degree, which he received with honor. But he is also a bit confused about what to do now to make his new life exciting and happy. Apparently, what he needs is a road map into the future. How can you help him?
Everything starts with good planning. He should apply for a PHD while developing a good plan taking ito consideration his retirement age, the type of company he will like to work for( or start his own if he has the funds), the positions he can handle, his role, and develop a plan B and plan C. he should:-
Make a plan of companies he will like to work for, positions he can hold, salary he expects, towns or countries preferred, climatic and health considerations, benefits of the companie.....
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