BUSINESS SIDE OF ENGINEERING

EMS2BSE

2018

Credit points: 15

Subject outline

This subject introduces fundamental business concepts in theory and practice for engineers and technologists. The subject covers five major areas; business strategies for engineers, management tools and resources, legal system, marketing and finances. Students will gain insight into business/company models and structures, innovation/technology adoption life cycle and business plan development. Emphasis is given to leadership and management for engineers and information/decision making tools. Students will be exposed to the Australian legal system including law of tort, professional negligence, industrial relations, insurance/risk, the ACCC and legislation. Important elements of marketing of services/products, marketing research, consumer behaviour and market segmentation are covered. Students are provided with an introduction to accounting, basic financial analysis and budget management. Engineers Australia stage 1 competencies covered in this subject are: 1.4-1.6, 3.1-3.6

SchoolSchool Engineering&Mathematical Sciences

Credit points15

Subject Co-ordinatorEddie Custovic

Available to Study Abroad StudentsYes

Subject year levelYear Level 2 - UG

Exchange StudentsYes

Subject particulars

Subject rules

Prerequisites EMS1EDP or EMS1EP

Co-requisitesN/A

Incompatible subjects ELE4EMT

Equivalent subjectsN/A

Special conditionsN/A

Graduate capabilities & intended learning outcomes

01. Analyse and interpret the business and economic environment within which engineers operate to formulate business and marketing strategies, summarise/critique the characteristics of long term high performing organisations and analyse failures

Activities:
Students will learn about business operation and business structures through online lectures and will apply the knowledge in weekly case studies to develop a good understanding of marketing, legal, financial factors impacting business operation. Further to this, students will be exposed to a range of business areas by industry professionals in weekly guest lectures throughout semester. Assessment will include participation in the weekly case studies, weekly quizzes, and in group assignment developing a business plan for a product/service.
Related graduate capabilities and elements:
Literacies and Communication Skills (Writing,Speaking)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Teamwork including leadership and working in groups,Ethical behaviour)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

02. Apply basic legal principles and occupational health and safety (OHS) as they affect practising engineers

Activities:
Students will be introduced to the Australian legal system and how it applies to business and operations for engineers. Furthermore, law of tort & professional negligence & industrial relations, insurance/risk /ACCC legislation will also be covered and discussed with industry professionals. Content will be delivered in several online lectures, 2 case studies and 2 industry lectures. Students will be required to demonstrate an understanding of basic legal principles and OHS in 2 online quizzes, in discussion during 2 case studies and in an applied manner with the submission of their final business plan. Students are expected to present during case studies and further develop their persuasive arguments based on evidence.
Related graduate capabilities and elements:
Literacies and Communication Skills (Writing,Speaking)
Literacies and Communication Skills (Writing,Speaking)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Teamwork including leadership and working in groups,Ethical behaviour)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

03. Apply basic financial principles including budgets and budget management, profit/loss and balance sheets

Activities:
Students will be introduced to basic financial principles, profit loss statements, general accounting, creating budgets, budget management and basic project costing. Two weeks of the subject are dedicated to these topics. Two case studies are undertaken 1. daily booking, balance sheets and statements and 2. creating basic budgets. Students will be required to demonstrate this understanding and will be assessed accordingly in 2 weekly quizzes, 2 case studies. The application of the financial knowledge will be assessed in the group work in the submission of the business plan assignment. Two guest lectures from industry professionals will be given on finances and project proposals/tenders to emphasize the importance of these skills in the professional world of engineering.
Related graduate capabilities and elements:
Literacies and Communication Skills (Writing,Speaking)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Teamwork including leadership and working in groups,Ethical behaviour)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

04. Apply elements of marketing of services/products, marketing research, consumer behaviour and market segmentation.

Activities:
Students will be introduced to different elements of marketing and the nature of marketing. Students will learn how to undertake marketing research and the differences between marketing of services and products. Consumer behaviour and market segmentation will also be taught. Content will be delivered in two weeks of online lectures and will be supported by two guest lectures by industry professionals. Two case studies will be undertaken to further support the learning process; 1 strategic marketing and use of SWOT analysis 2. Consumer vs enterprise marketing strategies. Assessment of marketing will be undertaken in 2 weekly quizzes and during the case studies where students will need to undertake critical analysis of marketing by global and local organisations. In depth assessment of m
Related graduate capabilities and elements:
Literacies and Communication Skills (Writing,Speaking)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Teamwork including leadership and working in groups,Ethical behaviour)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

05. Collaborate, cooperate, and work effectively as part of a team to produce a business plan and deliver an engaging and persuasive oral presentation.

Activities:
Online lectures provide the basics of business plan formulation and writing. Students will need to have weekly team meetings to develop the business plan resulting in a team presentation and a written business plan. Students will need to document team meeting in a professional manner taking minutes, resolving disputes and assigning action items using collaborative tools such as Wunderlist and IEEE Collabratec. Furthermore, students will need to keep all documentation in an online portal so that it is accessible to staff for assessment and progress report writing. Staff will assess meeting minutes and progress based on team integration and ability to utilise each others strengths. The business plan and presentations will be assessed by a panel of academics and industry representatives.
Related graduate capabilities and elements:
Literacies and Communication Skills (Writing,Speaking)
Literacies and Communication Skills (Writing,Speaking)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Teamwork including leadership and working in groups,Ethical behaviour)
Personal and Professional Skills (Teamwork including leadership and working in groups,Ethical behaviour)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

06. Develop effective self-marketing strategy, presentation and engagement using online tools

Activities:
Students will be introduced to the concept of self-marketing or personal branding. An increasing number of skilled workers are competing for a shrinking pool of jobs, and every year millions of undergraduate and graduate students enter the labor force to compete against more experienced workers. Self marketing gives students opportunities to effectively communicate their values, skills, experiences, and vision to potential employers. Students will learn how to communicate their attributes via CV's, create business cards, linkedin profiles and other online tools. Students will observe an online lecture, undertake a face to face guest lecture on self marketing/personal branding and apply the knowledge in a case study. Students will be assessed in a single quiz and case study.
Related graduate capabilities and elements:
Literacies and Communication Skills (Writing,Speaking)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Teamwork including leadership and working in groups,Ethical behaviour)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

07. Apply fundamental management tools and resources for information and decision making

Activities:
Students will be given 3 weeks of online lectures on management tools and resources which includes information management. Students are required to conduct research, locate information from various sources and scope out business related topics prior to and during weekly case studies. Students will be taught how to succinctly gather, summarise and analyse data to form informative conclusions. Assessment of student work will be conducted on a weekly basis using the learning management system (LMS) where progress can be tracked. Students will also need to create an online business portfolio that will contain all case studies, research documentation and demonstrate effective team work in managing a business plan document.
Related graduate capabilities and elements:
Literacies and Communication Skills (Writing,Speaking)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Teamwork including leadership and working in groups,Ethical behaviour)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

Subject options

Select to view your study options…

Start date between: and    Key dates

Bendigo, 2018, Semester 2, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorEddie Custovic

Class requirements

Lecture Week: 31 - 43
One 1.0 hours lecture per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.

WorkShop Week: 31 - 43
One 2.0 hours workshop per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.

Lecture Week: 31 - 43
One 2.0 hours lecture per week on weekdays during the day from week 31 to week 43 and delivered via online.

Assessments

Assessment elementComments% ILO*
Individual Assignment - Company Investigation Report (700 words equivalent)15 01, 04
Group Assignment - Business Case (1500 words equivalent)Students must form into groups of 5 when undertaking the business plan assignment. Students must declare their contribution to the assignment upon submission25 01, 02, 03, 04, 05, 07
10 x Case Study/Workshops (equivalent to 200 words per case study)Students are required to complete preliminary work (reading, watching videos and providing short answers to questions) prior to each case study (submitted on LMS). This forms 50% of the weekly case study assessment. The remaining 50% of the assessment is undertaken during the case study by academic staff in three areas: (1) Demonstration of creative problem solving, critical thinking and innovative demeanou40 01, 02, 03, 04, 05, 06, 07
10 x Online quizzes (equivalent to 25 words per quiz)Students will be assessed on weekly learning content using an online quiz. Quizzes can be completed up to one week (7 days) after the content has been delivered20 01, 02, 03, 04, 06, 07

Melbourne, 2018, Semester 2, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorEddie Custovic

Class requirements

Lecture Week: 31 - 43
One 1.0 hours lecture per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.

WorkShop Week: 31 - 43
One 2.0 hours workshop per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.

Lecture Week: 31 - 43
One 2.0 hours lecture per week on weekdays during the day from week 31 to week 43 and delivered via online.

Assessments

Assessment elementComments% ILO*
Individual Assignment - Company Investigation Report (700 words equivalent)15 01, 04
Group Assignment - Business Case (1500 words equivalent)Students must form into groups of 5 when undertaking the business plan assignment. Students must declare their contribution to the assignment upon submission25 01, 02, 03, 04, 05, 07
10 x Case Study/Workshops (equivalent to 200 words per case study)Students are required to complete preliminary work (reading, watching videos and providing short answers to questions) prior to each case study (submitted on LMS). This forms 50% of the weekly case study assessment. The remaining 50% of the assessment is undertaken during the case study by academic staff in three areas: (1) Demonstration of creative problem solving, critical thinking and innovative demeanou40 01, 02, 03, 04, 05, 06, 07
10 x Online quizzes (equivalent to 25 words per quiz)Students will be assessed on weekly learning content using an online quiz. Quizzes can be completed up to one week (7 days) after the content has been delivered20 01, 02, 03, 04, 06, 07