Jun 05, 2023
BUS 350 - Production Development and Innovation Credits: 5
Students learn how to identify, design, produce, test, and evaluate a new product. Topics include identification of market opportunities, generation of product concepts, feasibility analysis, prototyping, supplier selection, production planning, and testing.
Enrollment Requirement: Admission into the BAS in Marketing and Entrepreneurship program, BUS 395 , BUS 300 , BUS 401 , BUS 310 , BUS 344 and BUS 402 ; or instructor consent. Recommended: STRONGLY ENCOURAGE ACCT 110 or ACCT& 201 .
Course Fee: $100.00
Students who successfully complete this class will be able to:
- Justify market opportunity for a new product using analysis of target market, competition, and other components of the business environment.
- Generate multiple product concepts that address market opportunity.
- Analyze feasibility of product concepts in terms of design, manufacturing, and cost.
- Develop plan for creating and testing prototype of product concept.
- Compose a product development plan that includes product specifications, supplier identification, performance testing, and financial analysis of project.
- Analyze and use business data to develop appropriate business and marketing strategies.
- Apply entrepreneurship principles to better leverage organizational resources.
- Apply economic and behavioral concepts to strategy formulation.
- Conduct a survey of the business environment, identify opportunities, and formulate a plan for capitalizing on them.
- Assess the potential market for a product, and then formulate a plan for developing and marketing the product.
- Formulate and communicate an original business plan to an audience of stakeholders.
- Critical Thinking - Critical thinking finds expression in all disciplines and everyday life. It is characterized by an ability to reflect upon thinking patterns, including the role of emotions on thoughts, and to rigorously assess the quality of thought through its work products. Critical thinkers routinely evaluate thinking processes and alter them, as necessary, to facilitate an improvement in their thinking and potentially foster certain dispositions or intellectual traits over time.
- Written Communication - Written Communication encompasses all the abilities necessary for effective expression of thoughts, feelings, and ideas in written form.
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