June 14, 2015
June 14, 2015
June 17, 2015
26.191.1 - 26.191.16
An Integrated Approach to Developing Business Expertise in Industrial Engineering StudentsNow more than ever companies are expecting students graduating from baccalaureateengineering degree programs to have both strong technical problem solving skills and a level ofbusiness expertise. With corporate investment and engineering project funding decisionsbecoming increasingly reliant upon company financial statement and stock price impact, it iscrucial for engineers to have a working knowledge of financial accounting and finance.After collecting feedback from corporate executives it was evident that every industrialengineering student should be exposed to financial accounting topics including financialstatements and financial ratio analysis with an emphasis on understanding how engineeringproject decisions impact company financial statements. At this large University, engineeringstudents must typically minor in Business/ Liberal Arts to gain a working knowledge ofimportant financial accounting terminology and finance.This paper discusses an integrated approach being taken in an industrial engineering program toincrease student interest in engineering and business while teaching the important businessconcepts outlined above in a required engineering economy course for industrial engineeringstudents. This paper discusses the evolution of a student group deemed the “Business andEngineering” group in industrial engineering at this large University. The paper discusses thecurriculum changes in the engineering economics course to incorporate important financialaccounting and finance topics. The paper will discuss in detail a company sponsored case studycompetition implemented into the course to complement the financial statement analysiscurriculum added to the course.Student feedback regarding the updated curriculum, course delivery, and the company sponsoredcase study competition will also be discussed.
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