Description:
| Aims: To provide:
* An understanding of the various business processes required to operate manufacturing and service businesses.
* A knowledge of business economics and its use in decision making.
* An understanding of project costing
* An understanding of various business improvement processes such as TQM, change management and BPR
* A knowledge of business strategy.
* An understanding of marketing strategy and techniques.
Learning Outcomes: After taking this unit the student should be able to:
* Analyse supply and demand data.
* Carry out financial appraisals of engineering projects
* Take part in the implementation of TQM, BPR and other operations management techniques.
* Write a mission statement and analyse and develop an engineering businesses strategy.
* Analyse market data and develop alternative marketing strategies.
Skills: Problem solving; written communication; working independently.
Content: Business Economics - supply demand, elasticity, financial markets.
Project Accounting - Cost cash flow, ROI, NPV, resource planning .
Marketing - Price, the marketing mix, advertising, promotion, budgets.
Operations - TQM, change management, BPR, SPC and other initiatives.
Strategy - Missions, objectives, internal and external analysis, options, implementation.
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