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Engineering management: meeting the global challenges


IntroductionDefinitionsManagement ResponsibilitiesType of WorkChain of CommandPrinciple of Unity of CommandEfficiencyEffectivenessStrategic and Operational (Tactical) DecisionsEmployment Trend in IndustriesProducts versus ServicesMajor Sectors in IndustrySTEM Professionals as Effective Technical ContributorsTypes of Work Done by Technical ContributorsInteraction and Collaboration with OthersValue-Adding OpportunitiesManagement and LeadershipReadying Engineers to Accept Managerial ResponsibilitiesCharacteristics of an Effective Engineering ManagerResources Controlled by an Engineering ManagerNature of Work by Engineering ManagersBecoming Effective Managers in the New MillenniumConclusionsQUESTIONSReferencesSection I The Functions of Engineering ManagementPlanningIntroductionTypes of PlanningStrategic PlanningOperational PlanningWho Should Do the Planning?Inexact Nature of Strategic PlanningMethods Used to Plan StrategicallyTechnique to Gain Strategic InsightsPlanning Roles of Engineering ManagersTime ManagementProjects and ProgramsCorporate Know-HowProactive TasksTools for PlanningMarket ResearchSWOT AnalysisFinancial What-If Analysis and ModelingScenario PlanningPerformance BenchmarksTechnology ForecastingProduct Life-Cycle AnalysisPlanning ActivitiesForecastingAction PlanningIssuing PoliciesEstablishing ProceduresSome Specific Advice on PlanningAssumptionsResistance to ChangeBenefit versus CostSmall but Sure StepsContingency PlanningCommitmentConclusionQUESTIONSReferencesOrganizingIntroductionDefinitionsActivities of OrganizingOrganizing One's Own Workplace for ProductivityDeveloping Organizational StructureFunctional OrganizationDiscipline-Based OrganizationProduct/Region-Based OrganizationMatrix OrganizationTeam OrganizationNetwork OrganizationEnhancing Corporate Performance by Organizing: ExamplesOrganizing for Profitability: Service Profit Chain ModelOrganizing for High Performance by Using Flexible StructureOrganizing for InnovationOrganizing for Performance at Design-Manufacturing InterfaceOrganizing for Heightened Employee MotivationOrganizing for Research & Development and Marketing InterfaceConcurrent Engineering TeamsMutual Trust and AccountabilityTeam LearningDelegatingEstablishing Working RelationshipsRole ClarificationConflict ResolutionInformal OrganizationsConclusionQUESTIONSReferencesLeadingIntroductionStyles of LeadershipLeading ActivitiesDecidingRational Decision-Making ProcessesSpecific Rational Decision Analysis ToolAdditional Support Tools for Decision-MakingDecision-Making by Gut InstinctDecision-Making in TeamsCommunicatingAskingTellingListeningWritingUnderstandingMotivatingMethods of MotivationSpecific Techniques to Enhance MotivationInnovative Strategies of Worker MotivationSelecting Engineering EmployeesSelection ProcessSoft SkillsCharacterDeveloping PeopleEmployeesSuccessorsSpecial Topics on LeadingLeading ChangesAdvice for Newly Promoted LeadersGuidelines for Superior LeadershipConclusionQUESTIONSReferencesControllingIntroductionSetting Performance StandardsBenchmarkingSample Benchmarking MetricsLimitations of BenchmarkingMeasuring PerformanceEvaluating PerformanceCorrecting PerformanceMeans of ControlGeneral CommentsControl of Management TimeControl of PersonnelControl of Business RelationshipsControl of ProjectsControl of QualityConclusionQUESTIONSReferencesSection II Business Essentials for Engineering ManagersCost Accounting for Engineering ManagersIntroductionProduct or Service CostingCost of Goods SoldTraditional Method of Allocating Indirect CostsActivity-Based CostingSequential Steps to Implementation of ABCPractical Tips for Performing ABCApplication of ABC in IndustryApplication: Manufacturing OperationsApplication: Banking and Financial ServicesRisk Analysis and Cost Estimation under UncertaintyRepresentation of RisksProject Cost Estimation by SimulationExamples of Input Distribution FunctionsApplication: Cost Estimation of a Risky Capital ProjectOther Techniques to Account for RisksMiscellaneous TopicsEconomic Quantity of OrderingSimple Cost-Based Decision ModelsProject Evaluation CriteriaConclusionsQuestionsReferencesFinancial Accounting and Management for Engineering ManagersIntroductionFinancial Accounting PrinciplesAccrual PrincipleMatchingDual AspectsFull Disclosure PrincipleConservatismGoing ConcernKey Financial StatementsIncome StatementBalance SheetFunds Flow StatementLinkage between StatementsRecognition of Key Accounting EntriesCaution in Reading Financial StatementsFundamentals of Financial AnalysisPerformance RatiosRatio AnalysisEconomic Value AddedBalanced ScorecardCapital FormationEquity FinancingDebt FinancingWeighted Average Cost of CapitalEffect of Financial LeverageOptimum LeverageCapital Assets ValuationOperations: Assets in PlaceOpportunities: Real OptionsAcquisitions and Joint VenturesConclusionQUESTIONSReferencesMarketing Management for Engineering ManagersIntroductionFunction of MarketingSales versus MarketingMarketing ProcessKey Elements in MarketingMarketing MixMarket Forecast: Four-Step ProcessMarket SegmentationProduct/Service StrategyProduct/Service PositioningProduct/Service Life CyclesProduct PortfolioCompany BrandsEngineering Contributions to Product and Brand StrategyPricing StrategySkimming and Penetration StrategiesFactors Affecting PricePricing MethodsPricing and Psychology of ConsumptionMarketing Communication (Promotion)Communication ProcessPromotion StrategyInternet-Enabled Communications OptionsDistribution (Placement) StrategyTypes of DistributionOrganizational StructuresImpact of E-Commerce on DistributionPhysical EvidenceProcess DesignPeopleCustomersCustomer FocusCustomer Acquisition in Business MarketsMoments of Truth in Customer ServiceCustomer Interactions and LoyaltyCustomer FeedbackOther Factors Affecting Marketing SuccessAlliances and PartnershipsOrganizational EffectivenessChasm for Marketing HT Industrial ProductsConclusionQUESTIONSReferencesEngineers as Managers/LeadersIntroductionCareer Path of a Typical EngineerThe Engineer as Technical ContributorMidlevel PositionsPromotion to Next LevelFactors Affecting Promotion to ManagerFactors Causing Engineers to Fail as ManagersLeaders and ManagersLeadership Styles, Qualities, and AttributesLeadership StylesEmotional IntelligenceInspirational Leadership QualitiesLeadership AttributesLeadership Skills for the Twenty-First CenturyUnique Contributions Expected of Engineering ManagersTechnologists as GatekeepersTechnological IntuitionTechnological InnovationsCareer Strategies for the Twenty-First CenturyTake-Charge FormulaConclusionQUESTIONSReferencesCreativity and InnovationIntroductionCreativity and Creative Thinking StrategiesGeneration of New Products/Services Ideas by the DeepThink MethodologyBackgroundQuestion-Based PromptsOrganize VTASI Teams to Bring Forth Creative IdeasAdvantages of Engaging VTASI Teams to Generate New IdeasObservations and Team Survey ResultsFundamentals of InnovationsInnovation Value ChainInnovation Development ProcessesCategories of Innovation in PracticeInnovation ManagementOrganizational Settings Conducive to InnovationsBusiness Dimensions to FocusBest Practices in Managing Creative PeopleAdditional Guidelines for Managing InnovationsProtection of Inventions and InnovationsTypes of Intellectual PropertiesPatentsPublic Disclosures of Potentially Novel IdeasDocumentation and InventorshipSafeguard Against the Loss of Intellectual PropertiesSelected Innovation Practices in IndustryInnovation in Communications, Financial, and Technical Business ServicesInnovations in Insurance IndustryInnovations in Food IndustryMajor Hurdles to Innovations in Health CareConclusionsQUESTIONSReferencesEthics in Engineering Management and WorkplaceIntroductionEthics in the WorkplaceUniversal Moral StandardsEngineering EthicsManagement EthicsEthics in BusinessGuidelines for Making Tough Ethical DecisionsCorporate Ethics ProgramsAffirmative Action and Workforce DiversityGlobal Issues of EthicsConclusionQUESTIONSReferencesOperational ExcellenceIntroductionTools for Achieving Operational ExcellenceProcess StandardizationProductivity Enhancement ProgramsLean Six SigmaWeb-Based EnablersEmerging ToolsWeb ServicesService-Oriented ArchitectureCloud ComputingMobile ComputingBig DataImplementation of Operational ExcellenceSelection of OE ProjectsFinancial Viability of Selected OE ProjectsTechnical FeasibilityManagement CommitmentProject ExecutionDocumentation and Lessons PreservationOrganizational Resizing due to Operational ExcellenceConclusionsQUESTIONSReferencesGlobalizationIntroductionGlobal Trends and CommerceNew Trends in Global MarketMultinational EnterprisesOwnership of Global CompaniesUnited Nations Statistics and GoalsGreat Philosophical Debate about GlobalizationImpact of Catastrophic Events on GlobalizationNew Opportunities Offered by GlobalizationAdapting to Local Market DifferencesEconomies of Global ScaleEconomies of Global ScopeLocation-Based OptimizationKnowledge Transfer across LocationsPreparation for GlobalizationSuccess Factors for GlobalizationGlobal Virtual TeamManagement Style (Most Useful for Global Opportunities)Strategic Pathways to GlobalizationGlobalization MistakesGlobalization DriversImplementation Issues Related to GlobalizationDefender CompaniesExplorer CompaniesController CompaniesIntegrator CompaniesQuality of Global LeadershipProduction Engineering in a Global EconomyJob Migration Induced by GlobalizationGlobal Pie ConceptHow to Survive White-Collar MigrationConclusionQUESTIONSReferencesEngineering Management in the New MillenniumIntroductionFuture TrendsCustomer FocusEnterprise Resource Planning and Application IntegrationSupply StrategyKnowledge ManagementChanges in Organizational SettingsPopulation DiversityOld Economy and Knowledge Economy CompaniesOld Economy CompaniesKnowledge Economy CompaniesCharacteristics of Progressive CompaniesComplex Organizational DesignGlobal ReachPartnershipsNew Composition of EmployeesManagement Reporting LayersCustomer Sophistication and DemandBrand ImageStock Market ValuationTransition to the Knowledge EconomyProduct Design and SpecificationManufacturingManagementVarious Other IssuesPersonal Strategies for the FutureContributions in the New MillenniumTechnologiesInnovationsValue Addition to E-TransitionsCustomer and KnowledgeSocial Responsibility and LeadershipThe Challenges AheadConclusionsQUESTIONSReferences
 
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