Engineering Management: Meeting the Global Challenges 2nd Edition by C. M. Chang, ISBN-13: 978-1498730075

Description

Engineering Management: Meeting the Global Challenges 2nd Edition by C. M. Chang, ISBN-13: 978-1498730075

[PDF eBook eTextbook]

• Publisher: ‎ CRC Press; 2nd edition (June 6, 2016)
• Language: ‎ English
• 576 pages
• ISBN-10: ‎ 1498730078
• ISBN-13: ‎ 978-1498730075

Engineering Management: Meeting the Global Challenges prepares engineers to fulfill their managerial responsibilities, acquire useful business perspectives, and take on the much-needed leadership roles to meet the challenges in the new millennium. Value addition, customer focus, and business perspectives are emphasized throughout. Also underlined are discussions of leadership attributes, steps to acquire these attributes, the areas engineering managers are expected to add value, the web-based tools which can be aggressively applied to develop and sustain competitive advantages, the opportunities offered by market expansion into global regions, and the preparations required for engineering managers to become global leaders.

Table of Contents:

Cover

Half Title

Title Page

Copyright Page

Dedication

Table of Contents

Preface to the Second Edition

Preface to the First Edition

Acknowledgments

Author

1 Introduction to Management Challenges for Engineers

1.1 Introduction

1.2 Definitions

1.2.1 Management Responsibilities

1.2.2 Type of Work

1.2.3 Chain of Command

1.2.4 Principle of Unity of Command

1.2.5 Efficiency

1.2.6 Effectiveness

1.2.7 Strategic and Operational (Tactical) Decisions

1.3 Employment Trend in Industries

1.3.1 Products versus Services

1.3.2 Major Sectors in Industry

1.4 STEM Professionals as Effective Technical Contributors

1.4.1 Types of Work Done by Technical Contributors

1.4.2 Interaction and Collaboration with Others

1.4.3 Value-Adding Opportunities

1.5 Management and Leadership

1.5.1 Readying Engineers to Accept Managerial Responsibilities

1.5.2 Characteristics of an Effective Engineering Manager

1.5.3 Resources Controlled by an Engineering Manager

1.5.4 Nature of Work by Engineering Managers

1.6 Becoming Effective Managers in the New Millennium

1.7 Conclusions

References

Section I The Functions of Engineering Management

2 Planning

2.1 Introduction

2.2 Types of Planning

2.2.1 Strategic Planning

2.2.2 Operational Planning

2.3 Who Should Do the Planning?

2.4 Inexact Nature of Strategic Planning

2.4.1 Methods Used to Plan Strategically

2.4.2 Technique to Gain Strategic Insights

2.5 Planning Roles of Engineering Managers

2.5.1 Time Management

2.5.2 Projects and Programs

2.5.3 Corporate Know-How

2.5.4 Proactive Tasks

2.6 Tools for Planning

2.6.1 Market Research

2.6.2 SWOT Analysis

2.6.3 Financial What-If Analysis and Modeling

2.6.4 Scenario Planning

2.6.5 Performance Benchmarks

2.6.6 Technology Forecasting

2.6.7 Product Life-Cycle Analysis

2.7 Planning Activities

2.7.1 Forecasting

2.7.2 Action Planning

2.7.3 Issuing Policies

2.7.4 Establishing Procedures

2.8 Some Specific Advice on Planning

2.8.1 Assumptions

2.8.2 Resistance to Change

2.8.3 Benefit versus Cost

2.8.4 Small but Sure Steps

2.8.5 Contingency Planning

2.8.6 Commitment

2.9 Conclusion

References

3 Organizing

3.1 Introduction

3.2 Definitions

3.3 Activities of Organizing

3.4 Organizing One’s Own Workplace for Productivity

3.5 Developing Organizational Structure

3.5.1 Functional Organization

3.5.2 Discipline-Based Organization

3.5.3 Product/Region-Based Organization

3.5.4 Matrix Organization

3.5.5 Team Organization

3.5.6 Network Organization

3.6 Enhancing Corporate Performance by Organizing: Examples

3.6.1 Organizing for Profitability: Service Profit Chain Model

3.6.2 Organizing for High Performance by Using Flexible Structure

3.6.3 Organizing for Innovation

3.6.4 Organizing for Performance at Design–Manufacturing Interface

3.6.5 Organizing for Heightened Employee Motivation

3.6.6 Organizing for Research & Development and Marketing Interface

3.7 Concurrent Engineering Teams

3.7.1 Mutual Trust and Accountability

3.7.2 Team Learning

3.8 Delegating

3.9 Establishing Working Relationships

3.9.1 Role Clarification

3.9.2 Conflict Resolution

3.10 Informal Organizations

3.11 Conclusion

References

4 Leading

4.1 Introduction

4.2 Styles of Leadership

4.3 Leading Activities

4.4 Deciding

4.4.1 Rational Decision-Making Processes

4.4.2 Specific Rational Decision Analysis Tool

4.4.3 Additional Support Tools for Decision-Making

4.4.4 Decision-Making by Gut Instinct

4.4.5 Decision-Making in Teams

4.5 Communicating

4.5.1 Asking

4.5.2 Telling

4.5.3 Listening

4.5.4 Writing

4.5.5 Understanding

4.6 Motivating

4.6.1 Methods of Motivation

4.6.2 Specific Techniques to Enhance Motivation

4.6.3 Innovative Strategies of Worker Motivation

4.7 Selecting Engineering Employees

4.7.1 Selection Process

4.7.2 Soft Skills

4.7.3 Character

4.8 Developing People

4.8.1 Employees

4.8.2 Successors

4.9 Special Topics on Leading

4.9.1 Leading Changes

4.9.2 Advice for Newly Promoted Leaders

4.9.3 Guidelines for Superior Leadership

4.10 Conclusion

Appendices

References

5 Controlling

5.1 Introduction

5.2 Setting Performance Standards

5.3 Benchmarking

5.3.1 Sample Benchmarking Metrics

5.3.2 Limitations of Benchmarking

5.4 Measuring Performance

5.5 Evaluating Performance

5.6 Correcting Performance

5.7 Means of Control

5.8 General Comments

5.9 Control of Management Time

5.10 Control of Personnel

5.11 Control of Business Relationships

5.12 Control of Projects

5.13 Control of Quality

5.14 Control of Knowledge

5.15 Conclusion

References

Section II Business Essentials for Engineering Managers

6 Cost Accounting for Engineering Managers

6.1 Introduction

6.2 Product or Service Costing

6.2.1 Cost of Goods Sold

6.2.2 Traditional Method of Allocating Indirect Costs

6.2.3 Activity-Based Costing

6.2.4 Sequential Steps to Implementation of ABC

6.2.5 Practical Tips for Performing ABC

6.3 Application of ABC in Industry

6.3.1 Application: Manufacturing Operations

6.3.2 Application: Banking and Financial Services

6.4 Risk Analysis and Cost Estimation Under Uncertainty

6.4.1 Representation of Risks

6.4.2 Project Cost Estimation by Simulation

6.4.3 Examples of Input Distribution Functions

6.4.4 Application: Cost Estimation of a Risky Capital Project

6.4.5 Other Techniques to Account for Risks

6.5 Miscellaneous Topics

6.5.1 Economic Quantity of Ordering

6.5.2 Simple Cost-Based Decision Models

6.5.3 Project Evaluation Criteria

6.6 Conclusions

Appendices

References

7 Financial Accounting and Management for Engineering Managers

7.1 Introduction

7.2 Financial Accounting Principles

7.2.1 Accrual Principle

7.2.2 Matching

7.2.3 Dual Aspects

7.2.4 Full Disclosure Principle

7.2.5 Conservatism

7.2.6 Going Concern

7.3 Key Financial Statements

7.3.1 Income Statement

7.3.2 Balance Sheet

7.3.3 Funds Flow Statement

7.3.4 Linkage between Statements

7.3.5 Recognition of Key Accounting Entries

7.3.6 Caution in Reading Financial Statements

7.4 Fundamentals of Financial Analysis

7.4.1 Performance Ratios

7.4.2 Ratio Analysis

7.4.3 Economic Value Added

7.5 Balanced Scorecard

7.6 Capital Formation

7.6.1 Equity Financing

7.6.2 Debt Financing

7.6.3 Weighted Average Cost of Capital

7.6.4 Effect of Financial Leverage

7.6.5 Optimum Leverage

7.7 Capital Assets Valuation

7.7.1 Operations: Assets in Place

7.7.1.1 Discount Cash Flow (Based on WACC)

7.7.1.2 Internal Rate of Return

7.7.1.3 Multipliers

7.7.1.4 Monte Carlo Simulations

7.7.2 Opportunities: Real Options

7.7.3 Acquisitions and Joint Ventures

7.7.3.1 Common Stock Valuation Model (Dividend Valuation Model)

7.7.3.2 Dividend Growth Model

7.7.3.3 Modified Earning Model

7.7.3.4 Equity Cash Flows

7.8 Conclusion

Appendices

References

8 Marketing Management for Engineering Managers

8.1 Introduction

8.2 Function of Marketing

8.2.1 Sales versus Marketing

8.2.2 Marketing Process

8.2.3 Key Elements in Marketing

8.2.4 Marketing Mix

8.3 Market Forecast: Four-Step Process

8.4 Market Segmentation

8.5 Product/Service Strategy

8.5.1 Product/Service Positioning

8.5.2 Product/Service Life Cycles

8.5.3 Product Portfolio

8.5.4 Company Brands

8.5.5 Engineering Contributions to Product and Brand Strategy

8.6 Pricing Strategy

8.6.1 Skimming and Penetration Strategies

8.6.2 Factors Affecting Price

8.6.3 Pricing Methods

8.6.4 Pricing and Psychology of Consumption

8.7 Marketing Communication (Promotion)

8.7.1 Communication Process

8.7.2 Promotion Strategy

8.7.3 Internet-Enabled Communications Options

8.8 Distribution (Placement) Strategy

8.8.1 Types of Distribution

8.8.2 Organizational Structures

8.8.3 Impact of E-Commerce on Distribution

8.9 Physical Evidence

8.10 Process Design

8.11 People

8.12 Customers

8.12.1 Customer Focus

8.12.2 Customer Acquisition in Business Markets

8.12.3 Moments of Truth in Customer Service

8.12.4 Customer Interactions and Loyalty

8.12.5 Customer Feedback

8.13 Other Factors Affecting Marketing Success

8.13.1 Alliances and Partnerships

8.13.2 Organizational Effectiveness

8.13.3 Chasm for Marketing HT Industrial Products

8.14 Conclusion

Appendices

References

Section III Engineering Leadership in the New Millennium

9 Engineers as Managers/Leaders

9.1 Introduction

9.2 Career Path of a Typical Engineer

9.2.1 The Engineer as Technical Contributor

9.2.2 Midlevel Positions

9.2.3 Promotion to Next Level

9.3 Factors Affecting Promotion to Manager

9.4 Factors Causing Engineers to Fail as Managers

9.5 Leaders and Managers

9.6 Leadership Styles, Qualities, and Attributes

9.6.1 Leadership Styles

9.6.2 Emotional Intelligence

9.6.3 Inspirational Leadership Qualities

9.6.4 Leadership Attributes

9.7 Leadership Skills for the Twenty-First Century

9.8 Unique Contributions Expected of Engineering Managers

9.8.1 Technologists as Gatekeepers

9.8.2 Technological Intuition

9.8.3 Technological Innovations

9.9 Career Strategies for the Twenty-First Century

9.10 Take-Charge Formula

9.11 Conclusion

Appendices

References

10 Creativity and Innovation

10.1 Introduction

10.2 Creativity and Creative Thinking Strategies

10.3 Generation of New Products/Services Ideas by the DeepThink Methodology

10.3.1 Background

10.3.2 Question-Based Prompts

10.3.3 Organize VTASI Teams to Bring Forth Creative Ideas

10.3.4 Advantages of Engaging VTASI Teams to Generate New Ideas

10.3.5 Observations and Team Survey Results

10.4 Fundamentals of Innovations

10.4.1 Innovation Value Chain

10.4.1.1 Idea Generation

10.4.1.2 Idea Conversion and Diffusion

10.4.1.3 Manage and Monitor the Value Chain

10.4.2 Innovation Development Processes

10.4.3 Categories of Innovation in Practice

10.5 Innovation Management

10.5.1 Organizational Settings Conducive to Innovations

10.5.2 Business Dimensions to Focus

10.5.3 Best Practices in Managing Creative People

10.5.4 Additional Guidelines for Managing Innovations

10.5.5 Protection of Inventions and Innovations

10.5.5.1 Types of Intellectual Properties

10.5.5.2 Patents

10.5.5.3 Public Disclosures of Potentially Novel Ideas

10.5.5.4 Documentation and Inventorship

10.5.5.5 Safeguard Against the Loss of Intellectual Properties

10.6 Selected Innovation Practices in Industry

10.6.1 Innovation in Communications, Financial, and Technical Business Services

10.6.2 Innovations in Insurance Industry

10.6.3 Innovations in Food Industry

10.6.4 Major Hurdles to Innovations in Health Care

10.7 Conclusions

Appendices

References

11 Ethics in Engineering Management and Workplace

11.1 Introduction

11.2 Ethics in the Workplace

11.2.1 Universal Moral Standards

11.2.2 Engineering Ethics

11.2.3 Management Ethics

11.2.4 Ethics in Business

11.3 Guidelines for Making Tough Ethical Decisions

11.4 Corporate Ethics Programs

11.5 Affirmative Action and Workforce Diversity

11.6 Global Issues of Ethics

11.7 Conclusion

References

12 Operational Excellence

12.1 Introduction

12.2 Tools for Achieving Operational Excellence

12.2.1 Process Standardization

12.2.2 Productivity Enhancement Programs

12.2.2.1 Lean Six Sigma

12.2.2.2 Web-Based Enablers

12.2.3 Emerging Tools

12.2.3.1 Web Services

12.2.3.2 Service-Oriented Architecture

12.2.3.3 Cloud Computing

12.2.3.4 Mobile Computing

12.2.4 Big Data

12.3 Implementation of Operational Excellence

12.3.1 Selection of OE Projects

12.3.2 Financial Viability of Selected OE Projects

12.3.3 Technical Feasibility

12.3.4 Management Commitment

12.3.5 Project Execution

12.3.6 Documentation and Lessons Preservation

12.3.7 Organizational Resizing due to Operational Excellence

12.4 Conclusions

Appendix: “Service” Model

References

13 Globalization

13.1 Introduction

13.2 Global Trends and Commerce

13.2.1 New Trends in Global Market

13.2.2 Multinational Enterprises

13.2.3 Ownership of Global Companies

13.3 United Nations Statistics and Goals

13.4 Great Philosophical Debate about Globalization

13.5 Impact of Catastrophic Events on Globalization

13.6 New Opportunities Offered by Globalization

13.6.1 Adapting to Local Market Differences

13.6.2 Economies of Global Scale

13.6.3 Economies of Global Scope

13.6.4 Location-Based Optimization

13.6.5 Knowledge Transfer across Locations

13.7 Preparation for Globalization

13.7.1 Success Factors for Globalization

13.7.2 Global Virtual Team

13.7.3 Management Style (Most Useful for Global Opportunities)

13.7.4 Strategic Pathways to Globalization

13.7.5 Globalization Mistakes

13.8 Globalization Drivers

13.9 Implementation Issues Related to Globalization

13.9.1 Defender Companies

13.9.2 Explorer Companies

13.9.3 Controller Companies

13.9.4 Integrator Companies

13.10 Quality of Global Leadership

13.11 Production Engineering in a Global Economy

13.12 Job Migration Induced by Globalization

13.12.1 Global Pie Concept

13.12.2 How to Survive White-Collar Migration

13.13 Conclusion

References

14 Engineering Management in the New Millennium

14.1 Introduction

14.2 Future Trends

14.2.1 Customer Focus

14.2.2 Enterprise Resource Planning and Application Integration

14.2.3 Supply Strategy

14.2.4 Knowledge Management

14.2.5 Changes in Organizational Settings

14.2.6 Population Diversity

14.3 Old Economy and Knowledge Economy Companies

14.3.1 Old Economy Companies

14.3.2 Knowledge Economy Companies

14.4 Characteristics of Progressive Companies

14.4.1 Complex Organizational Design

14.4.2 Global Reach

14.4.3 Partnerships

14.4.4 New Composition of Employees

14.4.5 Management Reporting Layers

14.4.6 Customer Sophistication and Demand

14.4.7 Brand Image

14.4.8 Stock Market Valuation

14.5 Transition to the Knowledge Economy

14.5.1 Product Design and Specification

14.5.2 Manufacturing

14.5.3 Management

14.5.4 Various Other Issues

14.6 Personal Strategies for the Future

14.7 Contributions in the New Millennium

14.7.1 Technologies

14.7.2 Innovations

14.7.3 Value Addition to E-Transitions

14.7.4 Customer and Knowledge

14.7.5 Social Responsibility and Leadership

14.8 The Challenges Ahead

14.9 Conclusions

References

Appendix: Selected Engineering Management and Business Cases

Index

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