Jun 05, 2023
MGMT 350 - Developing Products Credits: 5
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 Applied Management program; and BUS& 101 ; and ENGL& 101 ; and MGMT 395 ; or instructor consent.
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.
- Formulate effective business strategies by conducting thorough analysis of a given market and business environment.
- Analyze quantitative and qualitative data to effectively and efficiently resolve business problems.
- Analyze financial data to explain organizational performance and identify business opportunities in a given market.
- Apply organizational behavior principles and human resources management practices to formulate a plan to effectively hire, retain, and develop a workforce.
- Plan and implement marketing and sales strategies to maximize long-term profitability of a firm.
- Construct operations and project plans that efficiently and effectively leverage organizational resources.
- Formulate strategies to increase ethical behavior and socially responsible decision making within an organization.
- 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.
- Responsibility - Responsibility encompasses those behaviors and dispositions necessary for students to be effective members of a community. This outcome is designed to help students recognize the value of a commitment to those responsibilities which will enable them to work successfully individually and with others.
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