June 24, 2007
June 24, 2007
June 27, 2007
Entrepreneurship & Engineering Innovation
12.1339.1 - 12.1339.13
Systems Engineering Entrepreneurship – A Unique Convergence of the Business and Engineering Realms
Carmo D’Cruz, Muzaffar Shaikh, Wade Shaw Florida Tech, Melbourne, Florida 32901
Engineering Entrepreneurship, Engineering Management and Systems Engineering courses offered by the Department of Engineering Systems at Florida Tech have greatly enriched the students’ educational experience, broadened their perspectives, served as community outreach forums and integrated experiential learning with academic programs. Students work in E-teams and write NCIIA proposals to commercialize innovative product or university/research lab developed technology.
This paper describes a unique course series in Systems Engineering (SE) Entrepreneurship. Innovation in product/service design and commercialization that enables entrepreneurship can be successfully leveraged by applying SE principles/ techniques which parallel entrepreneurship steps such as Customer Requirements Engineering and opportunity recognition; Project/Quality Engineering, Decision/Risk Analysis, Systems Modeling, Engineering Economics and business planning, Systems Integration and business plan development, Systems Launch considerations and product/business launch, etc. Concepts in strategy, team dynamics, and finance are integrated into these courses focusing on Engineering Entrepreneurship. It appears that Engineering Entrepreneurship has emerged as a Killer App for Systems Engineering and the Systems Engineering Entrepreneurship Course Series has emerged as an unique convergence of the Business and Engineering Realms in Academia.
The emerging facts from successful organizations, including universities, indicate that the real source of power in a knowledge economy is in combining technical prowess with entrepreneurship.1 A survey of business executives and managers indicated that highly successful engineers are not only academically astute, but also possess entrepreneurial skills.2 The Engineers of 2020 will need to be educated as innovators, with more direct exposure to cross- disciplinary topics and the workings of an entrepreneurial economy.3 However, engineering schools have been slow to incorporate entrepreneurship courses into the technical programs.
A common complaint heard from most high tech entrepreneurs is that their entrepreneurial projects always take more than 2X the time, 2X the money and 2X the resources than what they planned for at the outset.4 It has been observed that most successful high tech and serial entrepreneurs have a systems engineering approach to their entrepreneurial ventures.5 The economy in which the Engineers of 2020 will work will be strongly influenced by the global marketplace for engineering services and a growing need for interdisciplinary and system-based
D'Cruz, C., & Shaikh, S. (2007, June), Systems Engineering Entrepreneurship A Unique Convergence Of The Business And Engineering Realms Paper presented at 2007 Annual Conference & Exposition, Honolulu, Hawaii. https://peer.asee.org/2927
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