Business development in engineering sector

by | Sep 4, 2021 | Assignment Help

Compose a 1500 words assignment on business development in engineering sector. Sales and marketing are intertwined with financial and personnel management. It also involves defining goals and outcomes before the product development process. This calls for an acute understanding of customer expectations. Research shows that the mastery of technological and scientific disciplines is not enough to deal with the market dynamics of a technologically driven economy. There have been profound implications in the technologically driven global economy. Developing business in the sector requires engineers capable of working in different cultures and with knowledge of the dynamics of the global markets. The distinction between collaboration and competition in the sector continues to blur. Therefore, new perspectives must be developed to build competitiveness in the sector. High-quality engineering services are being developed in countries with cheap labor (Rob, 2002). The aim is to lower the costs of labor. Developed countries like the United States have been forced to look for cheaper labor to compete with China and India. Contemporary business development practices demand that interdisciplinary strategies be used to attract potential customers, develop quality products and other stakeholders (Annacchino, 2007). Modern engineering practice is bound to shift from the conservative approach of market ting and service delivery. The engineering sector is calling for the innovative solution with involving cultural, social, ethical and environmental issues. Modern engineers rarely take the leadership positions in business issues (Haaf et al, 2002). The knowledge-intensive business society demands engineers with knowledge concerning the marketplace and how to develop technical solutions that are responsive to the needs of society. The culture in developed countries, the free-market, and demographic values offer a conducive environment for technological innovation. Business development in the engineering sector shall involve empowering engineers with sales and marketing skills (Annacchino, 2007). Brand dynamics must be understood in the sector (Rob, 2002). Technical engineers are product developers. They should be in a position to understand the market needs and competitiveness of services and products. Adding value in the engineering sector shall entail giving them the skills on developing competitive products, understanding market needs, responding to the consumer expectation and means of sales (Haaf et al, 2002). This demands increased creativity, innovation and communication skills. The construction industry can develop competitive designs that address consumer concerns. This involves ensuring the stakeholders deliver quality in the construction process. There has been a long-standing conflict between marketing and engineering (Haaf et al, 2002). The conflict is being addressed through integration, commercializing of products and establishing successful development processes (Annacchino, 2007). This demands support from management to ensure products are developed in an integrated process. This marketing process takes into consideration the personality differences and capabilities of the manufacturing personnel. Knowledge management is the use of strategies to identify, distribute, and adopt experiences and insights beneficial to an engineering organization (Rob, 2002). An increasing number of engineers are acquiring marketing knowledge (Rainey, 2006).

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