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understanding management
Engineering Management Meeting The Global Challenges 2nd Edition C. M. Chang - Solutions
Jerry Lucas is the division director. As branch chief, Bob Sanford reports to Jerry Lucas. Bob Sanford has four section chiefs reporting to him.Bob Sanford is technically competent, with extensive experience in solid rocket propulsion; he is also regarded as the best expert in this field. He is
The board of directors receives a proposal from a business partner to jointly set up an assembly plant in a Third World country. This new plant will assemble final products with key components made by the company. Financial terms are attractive and the future marketing outlook is bright. There is
What are some important characteristics of effective leaders? Which of these characteristics are more difficult for engineers to acquire?
The plant manager noticed a need to lessen the amount of waste materials, which occur in the production process. A task force was set up, composed of the plant manager and two of her supervisors, to examine the problem. They met for three months and regularly published the task force objectives and
The project was running late and the section manager thought that it was time for a pep talk with his staff. He realized that he was considered to be somewhat autocratic by his staff, but this time he thought that he would impress on them that he was really one of the members of the team and that
A regional sales manager suspected that one of her customers was having financial troubles. However, she was reluctant to mention it to her superior because she felt that she could be wrong. She kept quiet for several months, continuing to take large orders from this customer and hoping that the
Company X selects someone who is weak technically, but very strong in groupprocess skills, to lead a team in developing a new engineering product. Would such a person be successful as a team leader? What can be done to ensure that the engineering product developed by the team will be satisfactory
Conflicts between technologists and managers may arise when the technical professionals with the skills to make a decision have to deal with a manager, who has the right to decide. Why do such conflicts often exist in organizations wherein everyone works toward the same common goal?
Company X makes the decision to substitute aluminum for steel in a component of its product. What factors probably have contributed to this decision? At what managerial level would this decision most likely have been made?
As the department head, you urgently need to find an experienced person to fill a vacancy. The work involves close cooperation and coordination with others inside and outside of the department. Candidate A has exactly the experience required, but appears to be very unsociable. Candidate B has
Joe Engineer has just graduated from the University at Buffalo. He earned a 3.8 GPA for his master of engineering degree. Before he finished all academic work, he sent out numerous job applications and received three specific job offers, A, B, and C.All of them require him to make a decision for
Preparation of the company product that was promised to a major customer is running late, and there is intense pressure on the production team to deliver the product. The director of production is eventually told by the company president to deliver, “or else.” The director therefore decides to
A number of years ago, ISO Standards 9000 series were developed to promote work quality by standardizing engineering design, testing, production, and other procedures. How many ISO standards are there, and how well have these standards been accepted in the United States?
A company decides to offer an average annual raise of 8%, although the current inflation rate is 10%. Each engineering manager decides on the best way to distribute the salary increases to his or her staff. However, if everyone gets an increase of 8%, there will be no differentiation between strong
A key engineer in the department hands in her resignation notice; her reason for leaving is that she has been offered a much higher salary by a competitor. The manager recommends to the director that the company match the competitor’s offer, even though this would allow the engineer to earn above
Motivation in the assembly shop is high. However, the shop manager notices that, although the daily production is above average for the shop, it drops down to a low during the first hour after the lunch break. It is further diagnosed that the operators tend to continue socializing till well after
Bill Carter is an excellent hardware designer, but he wants to move into management to broaden his experience. His manager is supportive and encourages Bill to go to evening classes on management. Bill works hard for two years and graduates first in his class. Soon, there is a management opening in
The company president has noted a constant increase in the number of reports passed on to her, many of them coming through the mail, some through the company’s intranet. Most of these reports remain unread, although, when traveling for business, the company president does find time to browse
The production department is undergoing an upgrade of its automation program.It has a conflict that needs to be controlled and managed. The line supervisor wants to standardize on machines supplied by an American vendor, as his people will eventually use them. The automation team leader believes,
Two junior members of the production department unexpectedly come in to see you, the production director, to complain that their manager, who reports to you, commits discrimination, practices favoritism, and misuses company facilities for possible personal gain.How would you handle this complaint?
At present, the company is running at full capacity in developing a new product for a major customer. The sales director has unexpectedly secured a small, but highly profitable, order, which requires some low-level development work and a minor change to the current production process.Should the
Some foreign countries, particularly those in the early stages of industrial development, are known to illegally copy product designs and technologies that originated from developed countries.What are the best ways for small businesses to protect their technical knowhow in foreign countries?
John Elrod founded the Elrod Manufacturing Company 50 years ago. Vernon Scott is the vice president of plant engineering, reporting to George Elrod, who took over as the company president from his father, John, five years ago. Vernon Scott and John Elrod have been good friends for many years. The
The manufacturing manager of Company X had installed a wage incentive program.She happily reported six months later that the system was a success because production was up and unit costs were down. A quality control manager said, however, that the percentage of rejects had increased markedly and
The company is evaluating two specific proposals to market a new product. The current interest rate is 10%.Proposal A calls for setting up an in-house manufacturing shop to make the product, requiring an investment of $500,000. The expected profits for the first to fifth years are $150,000,
The company’s warehouse has been busy taking in and shipping out vendorsupplied automotive parts. Table 6.13 shows the warehouse’s activities in eight consecutive periods, during which time the price of the parts has steadily increased.a. Determine the total LIFO prices for each stock
A dam is being considered on a river that periodically overflows. Each time the river overflows, it causes about $600,000 in damages. The project horizon is 40 years. A 10% interest rate is being used.Three different designs are available, each with different costs and storage capacities (see Table
The NPV equation (Equation 6.23) is described as follows:The NPV equation is important for evaluating project-based investments. It is also a basic equation for defining the concept of “value addition,” and has broad philosophical implications for what engineers do. Explain. NPV=-P+(m) m=1
A manufacturing company makes three products, A, B, and C. The fixed FO is$60,000, consisting of $10,000 for material handling, material waste, and procurement;$30,000 for rent and utilities; and $20,000 for safety and canteen costs. Other costs are shown in Table 6.16.a. Determine the product cost
A company makes and sells three technology products: A, B, and C. It has a production plant with 17,000 square feet of floor area, consisting of machine setup(2000 square feet), machining operation (9000 square feet), assembly (4000 square feet), and inspection, packaging, and shipping activities
You are considering a good-looking Toyota hybrid car priced at $28,000 or an elegant GM luxury car at $24,000. The fuel efficiency is rated at 50 miles per gallon for the Toyota and 25 miles per gallon for the GM. The annual maintenance cost for both cars is about 0.5% of the car price. The
Company X manufactures automotive door panels that may be made of either sheet metal or plastic sheet molding (glass fiber-reinforced polymer). Sheet metal bends well to the high-volume stamping process and has a low material cost.Plastic sheet molding meets the required strength and corrosion
Company X produces two products, A and B. Table 6.19 summarizes the cost structures of these two products over a three-month period.The company’s manufacturing operation is limited to 30,000 machine hours available per a three-month period. Furthermore, because of a prior sales commitment, the
Buffalo Best Company markets three products for sale. Product A, Product B, and Product C. Its production plant, which is located in the city of Buffalo, occupies 20,000 square feet of space. The use of this space is carefully planned as follows:a. Product assembly: 5000 square feetb. Machine
Monte Carlo simulations is a mathematical tool often used in engineering and business to solve complex problems involving uncertainties or risks.a. Explain the technological foundation of this tool?b. How can it be applied? Discuss the inputs to and outputs from Monte Carlo simulation
Employee A is about to retire. Based on his long tenure with the company, he is entitled to use his unused sick leave to pay for health insurance upon retirement.His current sick leave benefit is estimated to be worth $3156 annually. The health insurance premium is estimated to be $2532 per year
Michele Brown started up a new consulting firm to offer design and testing services to industries. During the first three months of its operation, the firm has recorded a number of transactions, shown as follows:a. Michele Brown initiated the business by investing $35,000 in cash; $1,200 for office
As the vice president of engineering of the Best Company in Buffalo, you need to make a decision regarding how a new product is to be manufactured. You have been offered two specific proposals. Proposal A is to set up an assembly operation in-house and to outsource the production of all
The ABC Company supplies products to a number of original equipment manufacturers(OEMs). It employs 5000 mostly unionized workers and generates about$2.2 billion in revenue annually. In 2012, it won an “Excellence Award” from one of its major client companies for having supplied an OEM product
The company is considering the introduction of a new product that is expected to reach sales of $10 million in its first full year and $13 million of sales in the second and third years. Thereafter, annual sales are expected to decline to two-thirds of peak annual sales in the fourth year and
The New Spirit Corporation has CLs of $130,000 with a current ratio of 2.5:1.Indicate whether the individual transactions specified next increase or decrease the current ratio or the amount of working capital, and by how much in each case.Treat each item separately.a. Purchase is made of $10,000
The income statement and balance sheet of Superior Technologies are exhibited in Tables 7.20 and 7.21. Conduct a ratio analysis and observe major trends and deviations from the available historical company information and industry data(see also Table 7.22).
For the current fiscal year that starts on January 1, 2015, Buffalo Best Company projects its financial performance as shown in Tables 7.23 and 7.24.In fiscal year 2015, the products of the company are priced at $10,000 each. The company president predicts that, because of the generally anticipated
The company’s vice president of marketing proposes a new program to significantly increase the product sales by 250,000 units per year throughout the 2016–2022 period. Specifically, it is suggested that the company takes the following actions:a. Spend $2.5 million over the period of 2016–2018
One of the company’s technology patents is about to expire, inducing a likely rush of product entries from the competition. Currently, the product line is projected to have stagnant sales of one million units for the next seven years from 2015 to 2022. The unit price is expected to decrease
Define the EVA of XYZ Company, whose income statement and balance sheet are shown in Tables 7.8 and 7.9. Assume that the WACC is 12.35% for both years.Discuss the EVA results and contrast them with the EVA results for Superior Technologies (Tables 7.20 and 7.21), for which WACC is also assumed to
The 2013–2014 income statement and balance sheet for Buffalo Best are presented in Tables 7.23 and 7.24. The WACC for Buffalo Best is 10% for both years. Review and comment on the performance of the company based on the following:a. Liquidity, activity, and profitabilityb. Uses and sources of
Company X manufactures technology products. It plans to expand its manufacturing operations. Based on past data, management anticipates the first project year of the as-yet-to-be-expanded operations to match the data in Table 7.26.a. Compute the working capital requirement during this project
The company has 10,000 shares of common stock outstanding, and the current price of the stock is $100 per share. The company has no debt. The vice president of engineering discovers an opportunity to invest in a new technology project that yields positive cash flows with a present value of
XYZ Company is financed by debt (50%), preferred stocks (20%), and common equity (30%). Its common stock price is $43 per share. It pays a dividend of $3.00 and has a growth rate of −2%. Its annual preferred stock dividend is $82 per $1000 share with a flotation cost of 7.5% per share. The
ABC Company receives a contract from one of its major customers. The contract calls for 20,000 hours of work billed at $75 per hour to be completed within one year. The normal billable work for each engineer is 2000 hours per year. Thus, the contract requires the involvement of 10 full-time
New Spirit Company plans to install a new production line consisting of several precision machines costing a total of $800,000. The installation of these machines requires another $150,000. The products made by the machines are projected to deliver a net income after tax of $400,000 per year for
Using the data contained in Tables 7.20 and 7.21, conduct an evaluation of Superior Technologies’ common stock in 2014, using the three different methods specified, as follows:a. The market value of the company’s net property has risen, and it is now about two times the value reported in the
Company A has been performing reasonably well over the last several years.Table 7.27 shows an abbreviated set of its financial data for the years 2009–2014.a. Analyze the company’s dividend–payout ratio to common stockholders, and comment on the suitability of this dividend policy.b. Discuss
Company B is currently financed by common stock equity. It is considering two alternative ways of financing in order to increase the return on common equity.Table 7.28 lists the two options under consideration, along with the base case.The company’s capitalization and EBIT remain constant at $30
Company X is planning to introduce a new service that is expected to reach sales of $10 million in its first full year and $13 million of sales in the second and third years. Thereafter, annual sales are expected to decline to two-thirds of peak annual sales in the fourth year, and one-third of
What are the bases for trade-offs between conflicting wants and needs of different customers with respect to the same product? How important is it to emphasize product quality when a new and unique product is launched?
Is it better to market a new product quickly and then upgrade the design later or to incorporate all design modifications or improvements before launching the product?
How can product development costs be minimized by entering the market late?
Customers’ wants and needs are regionally different for products intended for global markets. How can a centralized, concurrent engineering team develop a product that will serve as the common “platform” for global markets?
ABC Company wishes to enter a new market arena on the basis of its strength in core technologies and financial staying power. However, the market arena in question is currently dominated by a major competitor with 80% of the market share, and a number of smaller competitors are each focused on
A company makes a range of products and sells to several large, loyal customers to achieve a healthy market share. A new competitor has emerged to offer equivalent products at much lower prices. What should the company do?
The company wants to develop a new product for a high-end consumer market.It is known that customers in this market are difficult to identify and are geographically dispersed. How should the company plan for product distribution and promotion?
The company wishes to sell its current product in a new market segment. At the same time, it wants to launch a new product in the existing market segment. How should the company handle the product promotion?
How can engineering managers make the best use of tools such as the Myers–Briggs Type Indicator (MBTI) to assist in selecting project leaders or assigning employees to teams to ensure the likelihood of avoiding personality conflicts that could otherwise hinder team success?
Engineering managers may be called on to resolve conflicts between employees, departments, vendors, and business partners, as well as to handle customer complaints.What are the recommended guidelines for handling complaints? Please elaborate.
Hoffman (1989) believes that a management education program should have three elements:a. Behavioral: People skills, motivation, team building, communication, and delegationb. Cognitive: Production, marketing, finance, and controlc. Environmental: Markets, competition, customers, political, social,
How is engineering management different from management in general?
How does a manager or leader become a good superior? What should the superior do and not do?
Does the job of managing a high-technology function (e.g., an engineering design department) differ from that of managing a low-technology function (e.g., a hotel)?Explain the specific details of the jobs.
What rules and principles can guide managers to have successful people management skills?
There are so-called unwritten laws of engineering that recommend acceptable conduct and behavior for engineers in industry. How important are these unwritten laws to individual engineers, and where can these laws be located?
Some engineers and managers are known to have more difficulties in interpersonal relations than others. These difficulties may arise due to personality, chemistry, value system, priority, tolerance, competition, and other such factors. How can they improve their interpersonal skills?
In your opinion, what are the characteristics common to many future engineering leaders? Please explain.
The 3M Company is a diversified technology company that aggressively pursued innovation. What is unique about the innovation strategy of this company?
What are the relationships between creativity and innovation?
Discuss the steps of the inventing procedure commonly followed by inventors.
Problem solving is a fundamental skill that all systems service engineers and managers must possess. Its use in industry is rather frequent. What steps should be included in a generic problem-solving process?
STEM professionals need to access new ideas from time to time. Which sources should they tap into in order to obtain new ideas?
All enterprises need creative employees to attain strategic differentiation. These creative employees need to be properly managed. What are the useful guidelines for managing creative people?
Creativity is a highly desirable personality trait many enterprises are looking for in their new employees. STEM professionals and managers are special people who possess the basic training in engineering/scientific disciplines with an inclination toward entrepreneurship. What in your opinion are
There are many techniques used in engineering to promote creative thinking.STEM professionals and managers should apply them whenever appropriate.Name some of these creativity methods in engineering.
The performance of any company can be promoted by specifying a set of metrics that can be readily measured and then monitoring them rigorously. To promote the creativity and innovation of a service enterprise, one needs to define a set of metrics for determining its innovative performance. Name a
Creativity and innovation will usually result in some changes to be introduced into the organization, such as a new production process, new marketing strategies, new procedures of offering customer supports, and others. Not everyone likes changes and some will in fact resist them. STEM
When managing innovation, STEM professionals and leaders might be able to take advantage of specific practices that were beneficial to other managers in the past. Name a few useful lessons about managing innovation that can be gleaned by scanning the applicable business literature.
The management of innovation demands a broad and balanced approach.What are the factors deemed to be critical for achieving success in innovation management?
STEM professionals and leaders face many challenges when managing innovation.What are some of these top challenges in managing innovation?
Marketing and innovation are said to be two significant competencies of any enterprise.a. Explain, why these two competencies have been singled out as significant?b. Why would those engineering managers, who possesses demonstrable skills and insights in both of these competencies, be perceived to
The topic of cross-function teams was discussed in this text. It was postulated that nowadays teams are the most appropriate organizational structure for managers to deploy in promoting and realizing innovations, be it in conjunction with new service/product development, new process improvement,
Smith, an unemployed engineer who recently received certification as an engineer–intern from the State Board of Registration for Engineers and Land Surveyors, was seeking employment with a consulting firm. Engineer A, a principal with a large consulting firm, contacted Smith. After a long
As the business manager of your company, you are visiting several companies in Africa to promote new businesses. At the tail end of several successful rounds of negotiation, you are invited to attend a family banquet hosted by one of your potential business partners. This invitation represents a
Cindy Jones, a chemical engineer with considerable experience in offset printing processes, was hired recently as an engineering supervisor by Company A. Before that, she had been working as a research chemist for a competing firm, Company B, where she had invented a new formula and manufacturing
Sara King is a member of the International Union of Operating Engineers. Through the union, she has secured a new job to operate a truck with an end loader at the XYZ Construction Company.About two hours into her new job, the truck began to boil because of a leaky radiator. She stopped the truck
Quick Meal is an international fast-food chain that operates in many countries.Company management wants to apply a uniform standard of business ethics, modeled after U.S. practices, to all of its stores worldwide.When Quick Meal opened a new store in Country X, initially the local government
Jane is a member of the board of directors of Power Company Z, which is considering the construction of a new power plant.Coal-fired power plants emit sulfur dioxide into the atmosphere. Ambient air containing a high concentration of sulfur dioxide is known to create acid rain, which damages crops
Company A recently bought a rock-crushing unit from Company B. This unit was expected to produce 750 tons of crushed rocks per hour, but has in practice been producing only 500 tons per hour.Paul, president of Company A, complains to Gordon, sales manager of Company B, about the fact that he is now
How are URLs, domain names, and search engines defined? Use examples to explain the relationship between them. How can one make use of web pages to promote business?
What are the Internet, an intranet, and an extranet? How are they being used by numerous large and small companies today?
What are the standard markup languages used in the design of web pages?
What are some of the legal issues related to the Internet and web-based business transactions that remain unresolved at this time?
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