ieee (presentation final - with video links)

Mastering your technology career, which graduate degree is right for you?

April15th 2014

Andrew Maxwell Ph.D.

Asst. Professor,

College of Engineering

Fox School of Business

Temple University

© Andrew Maxwell, 2014 [email protected] IEEE April15

Agenda

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1. Why watch this webinar?

2. What motivated me?

3. Why consider graduate education?

4. What are the alternatives?

5. MBA vs Masters in Engineering Management?

6. What you will learn?

7. Review

mailto:[email protected]


Career choices for engineers & technologists

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1. Learning about the physical sciences only get you so far

2. Moving to next level requires understanding social sciences

3. Social sciences teach you:

a) How people make decisions…

b) How individuals form relationships….

c) How to create and design great new products….

d) How to manage projects…

4. Understanding of social sciences advancing fast…..

5. How can you get ahead….

And what are your career choices?



Learning choices (in order of cost)

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1. Learning by doing / mentoring

2. Reading books, using web sites and watching videos

3. Taking a not-for-credit course

4. Taking a for-credit course/certificate (professional)

5. Taking a for-credit course/certificate (University)

6. Taking a technical MSc (for example in electrical engineering)

7. Taking a Masters (for example engineering management)

8. Taking an MBA

Today we will focus on the last five, and specifically differences between an MBA and Masters in Engineering Management



Survey 1 – Educational Qualifications

5

Which of following best describes your educational experience?

1. No engineering or technology education

2. Current under/graduate student in engineering/technology

3. Working with undergraduate degree in science, engineering or technology

4. Taking an MBA or MBA graduate

5. Taking an Engineering Management degree

6. Other



Andrew Maxwell P.Eng. BackgroundBSc (Eng) Electrical Engineering, Imperial College

MBA, London Business School

GEC plc (14yrs) shop floor to divisional manager

ABB (3 yrs), then started 5 tech ventures

University of Toronto (3yrs) tech transfer office, tech incubator (30 start ups), tech commercialization course

Ph.D. (Management of Tech.) University of Waterloo (Ontario)

Asst. Professor at Temple University, Engineering & Business

Frustrated with traditional MBA, lack of career options, developed new degree and professional education courses

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Traditional career options were limited

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1. Traditional MSc in Engineering was for those interested in pure technical career, or continuing on to Ph.D.

2. Traditional MBA was for those interested in management careers in large corporations, or in becoming consultants

However, as an engineer I believe:

• New technologies can address societal issues, increase profitability in companies, and solve challenges

• Managing companies that develop/deploy new technologies combines management and technical perspectives

• Understanding why people use or buy a new technology is critical to turn a great idea into a useful innovation



Found engineers and technologists want to:

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1. Learn how to run research and development projects

2. Get development projects funded

3. Identify what factors contribute to new product success

4. Learn how to market a new technology

5. Understand difference between invention and innovation

6. Learn how to work in collaborative teams

7. Know how to create a technology development roadmap

8. Understand how to manage, or review, a technology project

9. Identify ways to improve process quality

10.Appreciate how to increase impact on an organization



Survey 2 – Current Role

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Which of following best describes your current role?

1. Full or part time under/graduate student

2. Under/graduate degree – unemployed or retired

3. Under/graduate degree – working for self

4. Under/graduate degree – working for large company

5. Under/graduate degree – working as engineering consultant

6. Other



Difference between qualifications and education Qualifications used as proxy for your ability to do a job….

..as a graduate engineer - imply competence in technical areas

..with a technical MSc – even more technical competence

..as an MBA – understand finance, strategy, hr, law, marketing…

MBA great in management consulting, Wall St. or boardroom

MEM better to work as a project / R&D manager, in design or manufacturing functions or as technology entrepreneur

A good MEM (Masters in Engineering Management) helps you make business decisions, manage teams, or get promoted… by teaching the social sciences – how people make decisions and behave (psychology, economics, and sociology)

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Masters in Eng. Management graduates jobs:Application Engineer

Automation Engineer

Business Analyst

Client Services Analyst

Clinical Specialist

Director of Business Strategy

Director of Hardware Engineering

Economics Consultant

Entrepreneur

Financial Analyst

Firmware Engineer

Forensic Analyst

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Global Markets Analyst

IT Manager

Job Cost Engineer

Manager of Corporate Strategic Planning

Manufacturing Development Program

Marketing Manager

Material Logistics Professional

New Product Analyst

Operations Leadership Program Associate

Patent Examiner

Plant Manager

Portfolio Analyst

Product Manager

Project Manager

Risk Manager

Senior Consultant

Strategy Consulting

Stress Analyst Engineer

Systems Architect

Systems Engineer

Systems Manager

Technical Consultant

Technology Licensing Specialist



What will you learn?

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1. Business model and revenue model innovation

2. Creativity, innovation and problem solving

3. Disruption and technology innovation

4. New product development process

5. Innovation adoption and diffusion

6. Project management

7. Change management

8. Team building and collaboration company

9. Six sigma and quality management

10.Design thinking



What did Eiffel do – to make his technical marvel come to life?

Eiffel agreed to finance balance of project, on condition that for twenty years he earned the entrance fees for riders

Importance of understanding how alternate business models

Business model case study: Eiffel Tower, 1889

• Gustaave Eiffel designed tower for 1889 world’s fair competition

• For 41 years highest structure in world• 7,300 tones of wrought iron in unique

design, with elevators to get up 3 stagesA technology marvel that won the competition, however project cost of 6.5 million francs was 75% more than the budget (1.5 million francs)



Creativity, innovation and problem solving

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Insert Goldenberg video


http://vimeo.com/91673176


Disruption and technology innovation:

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A disruptive innovation creates a new market and value network that changes the nature of competition usually displacing an earlier technology/ incumbent competitor.

Examples of disruptive innovation include: steel mini-mills, cell phones, and MP3 players. Competitors fail to see the threat, which makes it difficult for them to react to disruptive threat.

A sustaining innovation evolves existing markets and value networks and allows incumbent firms a competitive advantage that builds on their existing success

Examples of sustaining innovation include: next generation semi-conductors, automobile engines and food companies. Sustaining innovations take advantage of existing resources, reputation and customer relationships.



New product development process

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Insert Cooper video




Innovation adoption/diffusion case study, Xerox, 1959• Chet Carlson invented plain paper

Xerography in1938 • No need for special paper, did not

damage original• Low cost per copy, no need for operator• Launched 914 in 1959 with a unit cost of

$25,000 with very limited success

What did Carlson do – to make his technical marvel come to life?

Xerox offered to rent the unit at $25 per month, with a four cent cost per copy (minimum copy cost of $49 per month). Unit became ‘single most successful product of all time” driving annual revenue to $500 million by 1965.

Importance of understanding technology adoption decisions



Project management:

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Gershon video on project management





Change management:

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• Primary challenges in understanding change management: Defensive: how to deal with disruption to your business, and Offensive: how to take advantage of new products & ideas

• In late 1700’s steam power allowed creation of spinning, weaving technology that replaced skilled work with machines

• Fear of losing livelihood - civil unrest (Luddites)• Only ended using legal consequences • In 2000, Proctor & Gamble, had financial troubles• President decided to source innovative ideas externally in an

initiative called Connect and Develop• Challenges in including external ideas (not invented here)

meant project not successful at first • Widespread adoption required cultural change



Team building and collaboration:

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Insert Maxwell video




Quality management:

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Insert Dr Mark Gershon on quality management








Design thinking:

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Insert Youngjin Yoo video








Survey 3 – What did you find interesting today

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Indicate all that apply:

1. Availability of useful free courses

2. Differences between professional development and academic courses

3. Differences between Masters in Engineering Management and MBA

4. Importance of the social sciences, as well as the physical sciences

5. How education can help you with your job or career

6. None of the above



And now a word from our sponsors…MBA’s are great for career development – make sure you pick the one that is right for you based on:

Course quality, structure and convenience Timing, content, reputation and fees

http://www.fox.temple.edu/cms_academics/graduate-programs/

Engineers might want to consider more directly relevant courses: Professional development courses (PMI, PDMA, ASQ) Academic courses/certificates in engineering management Masters degrees in Engineering Management:

Course and instructor quality, and professional certification Structure, convenience, timing, ability to build on basics

Interest, reputation, and fees

http://engineering.temple.edu/department/ms-engineering-management

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Survey 4 – Interest

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Based on what you have heard today and your interests, what educational path might be of interest?

1. Nothing, I am really not interested or the free stuff is fine

2. Professional development courses (i.e. NPDP)

3. Courses or certificates at a University

4. Masters in Engineering Management

5. MBA

6. Other


ieee (presentation final - with video links)

Education

ieee april15 andrew

engineering management

management of

engineering business

ieee april15 masters

example engineering

new degree

new technology