Engineering Management I - Assignment Ii
Alberto Luma
MEM 6110
Assignment I
Problem I
Master's in Engineering is an advanced degree in Engineering that will prepare Stacy to handle complex engineering issues successfully. Rapid changes are taking place every day in the field of science and technology. To stay competitive in such a dynamic environment, Master's in Engineering provides a strong capability and knowledge to Stacy to stay ahead of the competition.
Job opportunities for Stacy as a recent graduate in Master's in engineering increase substantially because there is a consistent demand for highly qualified and specialized engineers in the industry. Stacy may also become professional consultants for project management with large organizations. Since Engineering is a highly developed and diversified field, with inherent growth potential, there are various specializations in Master's in Engineering for Stacy to choose from.
Problem II
According to an article published in the Lowe’s website last June, the low-quality level is more sensitive to changes in market volatility, and the high-quality level is more sensitive to consumer preferences and the cost of information. Most of the time, consumers decide whether to buy from a firm on the basis of its past quality decisions, that is on the basis of its reputation. When consumers are perfectly informed about companies’ past quality decisions, they can punish a company that has produced low quality by not patronizing it thereafter. The quality-assuring price gives company’s enough positive profits from producing high-quality goods to induce them to establish and maintain a reputation for high-quality production: it is not in their interest to cut quality and earn only a one-period gain. Thus, consumers serve, in some sense, as a disciplinary body, punishing companies that cheat and sell low-quality goods. The company should be proud of the products and get faith on its customers that they will keep purchasing the products.
Problem IV
The
MEM 6110
Assignment I
Problem I
Master's in Engineering is an advanced degree in Engineering that will prepare Stacy to handle complex engineering issues successfully. Rapid changes are taking place every day in the field of science and technology. To stay competitive in such a dynamic environment, Master's in Engineering provides a strong capability and knowledge to Stacy to stay ahead of the competition.
Job opportunities for Stacy as a recent graduate in Master's in engineering increase substantially because there is a consistent demand for highly qualified and specialized engineers in the industry. Stacy may also become professional consultants for project management with large organizations. Since Engineering is a highly developed and diversified field, with inherent growth potential, there are various specializations in Master's in Engineering for Stacy to choose from.
Problem II
According to an article published in the Lowe’s website last June, the low-quality level is more sensitive to changes in market volatility, and the high-quality level is more sensitive to consumer preferences and the cost of information. Most of the time, consumers decide whether to buy from a firm on the basis of its past quality decisions, that is on the basis of its reputation. When consumers are perfectly informed about companies’ past quality decisions, they can punish a company that has produced low quality by not patronizing it thereafter. The quality-assuring price gives company’s enough positive profits from producing high-quality goods to induce them to establish and maintain a reputation for high-quality production: it is not in their interest to cut quality and earn only a one-period gain. Thus, consumers serve, in some sense, as a disciplinary body, punishing companies that cheat and sell low-quality goods. The company should be proud of the products and get faith on its customers that they will keep purchasing the products.
Problem IV
The