Flashcards
Engineering Management 221_Chapter 1
Cards in this deck (18)
- 1—Abstract Hypothesis
- 2—Reflective Observation
- 3—Concrete Experience
- 4—Active Testing
- 5—The Strategic Management Process
- 6SWOT AnalysisStrengths, Weaknesses, Opportunities, and Threats
- 7TechnologyThe usage and knowledge of tools and crafts affect our ability to control the environment. High tech needs more tooling, low tech is easier to make
- 8Innovation- The practical implementation of an idea into a new device or process.
- A creative idea was realized.
- High innovative means more change
- Less innovation means less change - 9innovation imageInnovation Chart
- 10What is the most important driver of competitive success? Why?Technology innovation
Protects margins, more efficient, and most sales are from new things - 11Technology InnovationIntroduction of new device or methods for an application
- 12Technology innovation effect on societyRaises GPD, standard of living, but can create negative externalities
- 13GDPGross Domestic Product
(Total annual out put of an economy measured by final purchase price) - 14Tech innovation gets faster because...Information technology, simulations, and CAD/CAM
- 15ExternalitiesCosts or benefits borne by people other than those who created them
- 16How to do Tech innovation successfullyUnderstand innovation and craft an innovation strategy
- 17Innovation funnelThousands of ideas narrow to a few tested and one made, the cost goes up as you go along funnel
- 18—Innovation Funnel
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- Engineering Flashcards on Engineering Management 221_Chapter 1, created by Nelson Jenkins on 21/03/2023.
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- Nelson Jenkins
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