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NG2S253 Fundamentals of Business Engineering and Management

Question

Answered

Task

Assessment Task:

Wordcount: 3000 words

With an ever challenging business environment, bringing a new product or service to market is an area that has major importance for engineering organisations. History is littered with examples of products or services that have failed to deliver the required financial reward for businesses.

Discuss some of the elements that are involved as a business launches a new product. How should an engineering organisation approach these elements that you have identified in order to ensure success? Include in your discussion the approach to leadership that may support the business as it approaches these elements.

Some examples of areas that you may wish to consider are (you should not try to cover all these areas, and you may identify areas not listed here):

  • Understanding the business environment
  • Project management
  • New product development
  • Marketing
  • Intellectual property
  • Communication
  • Teamworking
  • Product lifecycle
  • Risk analysis and management

The role of leadership is important throughout the activities of a business organisation. Include in your report a discussion on the leadership approaches that may support the launch.

You should include relevant reference to theory, there should be clear evidence of an understanding of the literature.  The theory should be applied to examples or case studies, from and engineering or industrial context.

All referencing must be in the Harvard system.

Learning Outcomes to be assessed

  • Develop and critically evaluate engineering equipment asset management tools and techniques.

NG2S253 Fundamentals of Business Engineering and Management

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