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Ieee (presentation final - with video links)


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Career choices for graduate engineers

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Ieee (presentation final - with video links)

  1. 1. 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
  2. 2. © Andrew Maxwell, 2014 IEEE April15 Agenda 2 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
  3. 3. © Andrew Maxwell, 2014 IEEE April15 Career choices for engineers & technologists 3 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?
  4. 4. © Andrew Maxwell, 2014 IEEE April15 Learning choices (in order of cost) 4 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
  5. 5. © Andrew Maxwell, 2014 IEEE April15 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
  6. 6. © Andrew Maxwell, 2014 IEEE April15 Andrew Maxwell P.Eng. Background BSc (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 6
  7. 7. © Andrew Maxwell, 2014 IEEE April15 Traditional career options were limited 7 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
  8. 8. © Andrew Maxwell, 2014 IEEE April15 Found engineers and technologists want to: 8 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
  9. 9. © Andrew Maxwell, 2014 IEEE April15 Survey 2 – Current Role 9 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
  10. 10. © Andrew Maxwell, 2014 IEEE April15 Difference between qualifications and education Qualifications used as proxy for your ability to do a job…. a graduate engineer - imply competence in technical areas ..with a technical MSc – even more technical competence 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) 10
  11. 11. © Andrew Maxwell, 2014 IEEE April15 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 11 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
  12. 12. © Andrew Maxwell, 2014 IEEE April15 What will you learn? 12 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
  13. 13. © Andrew Maxwell, 2014 IEEE April15 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 stages A technology marvel that won the competition, however project cost of 6.5 million francs was 75% more than the budget (1.5 million francs)
  14. 14. © Andrew Maxwell, 2014 IEEE April15 Creativity, innovation and problem solving 14 Insert Goldenberg video
  15. 15. © Andrew Maxwell, 2014 IEEE April15 Disruption and technology innovation: 15 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.
  16. 16. © Andrew Maxwell, 2014 IEEE April15 New product development process 16 Insert Cooper video
  17. 17. © Andrew Maxwell, 2014 IEEE April15 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
  18. 18. © Andrew Maxwell, 2014 IEEE April15 Project management: 18 Gershon video on project management
  19. 19. © Andrew Maxwell, 2014 IEEE April15 Change management: 19 • 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
  20. 20. © Andrew Maxwell, 2014 IEEE April15 Team building and collaboration: 20 Insert Maxwell video
  21. 21. © Andrew Maxwell, 2014 IEEE April15 Quality management: 21 Insert Dr Mark Gershon on quality management
  22. 22. © Andrew Maxwell, 2014 IEEE April15 Design thinking: 22 Insert Youngjin Yoo video
  23. 23. © Andrew Maxwell, 2014 IEEE April15 Survey 3 – What did you find interesting today 23 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
  24. 24. © Andrew Maxwell, 2014 IEEE April15 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 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 24
  25. 25. © Andrew Maxwell, 2014 IEEE April15 Survey 4 – Interest 25 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