BEE489.

Engineering Entrepreneurship, Management & Ethics Fall Semester 2007 Credit: 4 hours Catalogue description: The course focuses on engineering economics, engineering management and professional ethics, and associated ethical issues. Course objectives include coverage of: prediction/probability of net returns; financial calculations (internal rate of return, time value of money, pro forma statements); legal structures of businesses; project management; developing an awareness of issues related to professional ethics; and technical writing and communication. This course satisfies the College of Engineering technical writing requirement. Required or elective: Prerequisites: junior standing; highly recommended ENGRD 270 or CEE 304 or equivalent Textbook(s) and other required materials: Engineering, Entrepreneurship and Economics by Timmons et al. Application of Engineering Ethics by Timmons et al. Course objectives: 1. Investment evaluation of a proposed business. This aspect of the course will include basics of: a) business plan writing, b) Pro Forma statements, c) calculation of Internal Rates of Return, d) time value of money, and e) associated financial terms and analysis such as deprecation, taxation and inflation issues. By end of course, the student will have become familiar with all the engineering economics principles that are included on the Part A of the Fundamentals of Engineering licensure exam 2. Prediction of net returns and probability. This portion of the course will relate to the stochastic nature of variables impacting net returns and probability-based approaches to predicting net returns. This is of particular interest in this course since the course is focusing on food systems which tend to be stochastic from season to season, i.e. random and unpredictable. 3. Creation of a Small Business. The course leader will rely heavily on personal experience of what is actually involved in starting a new business. Topics to be included are: a) sources of financing and realism associated with same, b) legal structures of businesses, e.g. Limited Liability Corporations, S and C Corporations, Partnerships, Sole proprietorship, c) accounting structures. 4. Management of a Startup Business. Project management will be reviewed from initial phase of seeking capital through employee handbooks and incentive based management techniques and scale-up and expansion of the initial business. Use of pert charts will be presented and their value. 5. Ethical Considerations and Issues. How does one practice ethics in todays business climate and in particular related to new business formation? Topics will be addressed such as offshore sourcing; gender wage equality; professional responsibility (Engineering Code of Ethics is reviewed at length). Topics covered: Introduction of Course. Review overall content. Context of entrepreneurship and engineering. My background as an entrepreneur. Business Concept: Four Major Components Venture Capital Principles & Fund Raising Valuation of a Company Disruptive Technology Proforma management and Balance sheets via Excel spreadsheets

Engineering Ethics, Information on Licensing in NY State

Several guest speakers with entrepreneurial experience are brought to class, e.g., Guest Speaker: Dr. Greg Galvin, President/CEO of Calient Optical Components; John Alexander
(President & CEO) Cbord Group (Cornell grad) Class/laboratory schedule: One 110-minute lecture per week One 50-minute Writing Lab per week (multiple times offered) One 50-minute engineering economics section per week Course outcomes and their relation to ABET program outcomes a-m: 1. The major outcome of this course is that the students gain a first hand experience of the steps involved in financing a new business or expanding an existing one centered around a technology driven product. Students are assigned to teams and elect a CEO and their own operating agreement as to how their participation component of the course is assigned (10% of course grade). Students engage in current ethical issues throughout the semester as related to simple moral choices (do I contract services from a developing country to lower my costs of production) and traditional professional engineering ethical issues, e.g., personal responsibility to report a safety issue to your boss's superior when your immediate boss ignores you. (d, f, h, j) 2. Student gains an ability to evaluate choices using engineering economic analysis as a tool. This will include ability to use probability-based analysis in evaluating options. (a, e) 3. Student gains a thorough knowledge of legal structure, intellectual property law, and selecting, training, and managing both employees and board members. (f, h, k) 4. Student becomes thoroughly familiar with business communication skills through letter writing to a variety of target audiences (banker, angel investor) and developing a business plan that is both written and presented orally in a venture fair format. The oral presentations also require the students to become familiar with proper business attire and business etiquette in a dining venue. (d, g) Person preparing this description and date: Michael B. Timmons December 17, 2007