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ILE282: ENGINEERING MANAGEMENT (2nd Assignment) 2.8 Question Answers
2.8 The Marketing Director needs to submit a strategic plan for entering a new market. He knows he needs long periods of uninterrupted time. He considers two options:
(1) Staying at home to develop the plan,
(2) Delegating some parts of the plan to subordinates.
What are the factors the Director needs to consider when he picks the best way to create this plan?
Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. The marketing process involves five steps. The first four steps create value for customers.
First, marketers need to understand the marketplace and customer needs and wants.
Next, marketers design a customer- driven marketing strategy with the goal of getting, engaging, and growing target customers.
In the third step, marketers construct a marketing program that actually delivers superior value.
All of these steps form.....
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ILE282: ENGINEERING MANAGEMENT (2nd Assignment) 2.2 Question Anwer
2.2Joe Engineer took a course while going to graduate school at SUNY‐Buffalo. There, he learned the importance of planning. He knows that luck plays a big role in one’s life. But he is convinced that a proper planning will help him to have an orderly progression in his career. He thinks that it would be cool to become a CEO at the age of 60 and retiring at 65 with a net worth of $10 MM. He wants some guidance on career planning. How can you help him?
It will not be advisable for Joe to do this, because most companies will not take CEOs at the age of 60. At this age, their productivity is low, as well as efficiency, effectiveness and dynamicity. It will be degrading perhaps to a company and besides the chance to get such an offer is too slim. He should not rely on luck at all, let him take the job and switch to night school or online studies and he may still have the luck when he graduates and he would not have lost anything.
ILE282: ENGINEERING MANAGEMENT (2nd Assignment) 2.5 Question Answers
2.5 What are included in the operational guidelines some industrial companies have developed? Please advise.
At beginning of each meeting, the training team members and facilitators should agree on and clearly state meeting purpose, review progress and achievements of previous meetings.
Agree to focus on problem solving dialogue, while avoiding potential damaging debates.
Recognize that conflict and diversity are assets to be maximized, not problems needing to be avoided and suppressed, and develop conflict resolution procedures.
Agree on procedures that ensure that every voice is heard and that the problem-solving dialogue is focused, detailed, and productive.
Agree on "a parking lot" for ideas that are not immediately relevant and useful; and revisit the parking lot during the debriefing process
Do not “lump together” too many needs, problems, and priorities so that you end up with an unmanageable problem.
Because the team may ha.....
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ILE282: ENGINEERING MANAGEMENT (3rd Assignment)
Question # 3.1
Which type of organizational structure is best suited for developing a new product which requires a high level of specialization in several functions and the time to market represents a critical factor?
I think that the best approach for developing a new product is by forming a concurrent team, and the steps to be taken are as follows:
1) Choosing team members of high specializations in the major functions.
2) Defining objectives.
3) Allocating budget for the mission.
4) Setting timelines
Answer: Functional organization:
Functional is highly specialized
Each department is highly skilled as all specialists are grouped together
It is best for new products and small firms, oldest and easiest to manage
Good for new products
Decision making is fast and of high quality
Question # 3.2
A materials manager suspects that the quality of work being done within his depart.....
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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 :
Operational decisions
Tactical decisions
Do market research
Use competitor intelligence
Reduce price
Further reduce prices
Improve results
Interpret massive amounts of market intelligence
Reduce costs
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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