Undergraduate Teaching 2023-24

Engineering Tripos Part IB, 2P8: The Engineer in Business (Compulsory), 2023-24

Engineering Tripos Part IB, 2P8: The Engineer in Business (Compulsory), 2023-24

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Lecturer

Dr C Coleridge

Course Leader

Prof Michael Pollitt

Lecturer

Dr Eden Yin

Timing and Structure

Weeks 1-8, Lent Term. 8 x 1-hour sessions including: 3 x 1-hour sessions on economics, 2 x 1-hour sessions on strategy, 3 x 1-hour sessions on marketing. The first three lectures will be delivered live on Zoom.

Aims

The aims of the course are to:

  • provide students with a basic understanding of how businesses work, and to give them the language to work effectively with those who work in non-technical roles within a business.

Objectives

As specific objectives, by the end of the course students should be able to:

  • gain a preliminary, concise and multi-faceted understanding of issues in running businesses.

Content

The module is structured around three major fields of studies that complement each other, namely economics, marketing, and strategy.

  • The sessions on economics aim to introduce the economic nature of the firm, why and how firms grow or contract, and the nature of economic regulation facing firms.
  • The sessions on strategy aim to examine how firms develop and maintain competitive advantage; and to help students to develop skills that will allow them to make robust strategic business decisions in the face of uncertainty and complexity.
  • The sessions on marketing aim to help students understand core questions in marketing and how marketing contributes to business strategy and firm performance; and to help students to develop strategic and analytical skills in planning and evaluating marketing decisions in the business world.

 

The Engineer in Business

Sessions on economics (3 x 1-hour sessions):

The economic nature of the firm (1 session)

The theory of the firm (1 session)

The regulation of the firm (1 session)

 

Sessions on strategy (2 x 1-hour sessions):

What is strategy and how to analyse industries? (1 session)

Types of competitive advantage: Cost leadership and differentiation strategies (1 session)

 

Sessions on marketing (3 x 1-hour sessions):

Demystifying marketing (1 session)

Strategic brand management (1 session)

Marketing communication in the digital age (1 session)

Further notes

Assessment

A set of multiple-choice questions to be completed over 30 minutes of examination time.

Examples papers

 

See VLE.

 

Booklists

Please refer to the Booklist for Part IB Courses for complete references to this module, this can be found on the associated Moodle course.

Helpful reference for Economics Sessions: 

Sloman, J., Garrett, D., Guest, J. and Jones, E. (2023)

Economics for Business, 8th, 9th Editions, Pearson.

Chapters 3 (Business Organisations), 13 (Alternative Theories of the Firm), 15 (Growth Strategy), 20 (Reasons for Government Intervention in the Market) and 21 (Government and the Firm).

E-book via:

iDiscover

Helpful reference for Strategy Sessions: 

 

 

Clegg, S.R. 

Pitelis, C. 

Schweltzer, J. 

Whittle, A. (2022)

Strategy: Theory and Practice 2nd, 3rd, 4th Editions, SAGE.

Available:

UL: 425:1.b.201.51  

 

 

Helpful reference for Marketing Sessions: 

Kotler, P. et al. (2019)

Marketing Management. 3rd / 4th European ed. Harlow: Prentice Hall/Pearson Education

‘Defining marketing for new realities/Introduction to Marketing.’

‘The changing marketing environment and information management.’

‘Managing digital technology in marketing.’

‘Digital and global brand management strategies.’

E-book via 

iDiscover

 

Examination Guidelines

Please refer to Form & conduct of the examinations.

UK-SPEC

This syllabus contributes to the following areas of the UK-SPEC standard:

Toggle display of UK-SPEC areas.

KU3

Appreciate the social, environmental, ethical, economic and commercial considerations affecting the exercise of their engineering judgement.

D2

Understand customer and user needs and the importance of considerations such as aesthetics.

D3

Identify and manage cost drivers.

S1

The ability to make general evaluations of commercial risks through some understanding of the basis of such risks.

S2

Extensive knowledge and understanding of management and business practices, and their limitations, and how these may be applied appropriately to strategic and tactical issues.

P3

Understanding of contexts in which engineering knowledge can be applied (e.g. operations and management, technology, development, etc).

 
Last modified: 19/12/2023 19:28