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Management in Engineering

Accounting and Planning

Jung-Hoon Chun and Abbott Weiss

Managerial ability is an important element of technology companies in an increasingly global and diverse business environment. Combining learned heuristics and techniques for effective decision-making while leveraging technical knowledge is a highly in-demand skill by employers at technical companies. This course will help you bridge the gap between engineers and business people, placing you in an important position that few others can fill.

As part of the Principles of Manufacturing MicroMasters program, this course aims to teach learners key principles and practices used in engineering management. You will first learn basic business functional knowledge--financial accounting, sales, marketing, operations, and topics related to entrepreneurship. The focus is on the development of individual skills and management tools.

Develop the engineering and management skills needed for competence and competitiveness in today's manufacturing industry with the Principles of Manufacturing MicroMasters Credential, designed and delivered by MIT's #1-ranked Mechanical Engineering department in the world. Learners who pass the 8 courses in the program will earn the MicroMasters Credential and qualify to apply to gain credit towards MIT's Master of Engineering in Advanced Manufacturing & Design program.

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What's inside

Learning objectives

Fundamental business knowledge across finance, sales, and marketing
Construct financial statements and perform ration analyses

Apply analytical tools to business decisions
Develop a technical strategy that can be applied across multiple industries

Fundamental business knowledge across finance, sales, and marketing
Construct financial statements and perform ration analyses
Apply analytical tools to business decisions
Develop a technical strategy that can be applied across multiple industries

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Introduces learners to key business and engineering management principles and practices

Helps learners apply analytical tools and technical knowledge to make informed business decisions

Develops skills in financial analysis, marketing, and operations management

Provides a solid foundation for learners pursuing careers in engineering management or related fields

Can help learners understand how to bridge the gap between technical and business perspectives

Instructed by experienced MIT Mechanical Engineering professors

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Reviews summary

Promising engineering management course

According to students, Management in Engineering: Accounting and Planning has compelling features for engineering professionals. Students say the course is challenging and engaging, and they particularly praise its interesting content and real-world relevance.

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Management in Engineering: Accounting and Planning with these activities:

Complete LeetCode problems

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Practice your coding skills by solving coding problems on LeetCode.

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Create a LeetCode account
Solve easy and medium difficulty problems
Discuss solutions with other LeetCode users

Gather resources on manufacturing best practices

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Create a resource list to organize and review articles, videos, and other materials on manufacturing best practices.

Browse courses on Manufacturing

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Search for articles and videos
Create a document or spreadsheet
Organize the resources by topic
Share the resource list with classmates

Review 'Principles of Management'

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Reinforce your understanding of management principles by reviewing a textbook on the subject.

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Read each chapter
Take notes on key concepts
Complete the end-of-chapter exercises

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Learn about marketing strategies

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Explore marketing tutorials to develop your knowledge of different marketing channels and strategies.

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Find online marketing tutorials
Watch the tutorials and take notes
Research specific marketing channels
Develop a marketing strategy for a hypothetical product

Review financial statements

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Practice analyzing financial statements to strengthen your understanding of financial management.

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Choose a public company
Download the company's financial statements
Review the income statement
Review the balance sheet
Review the cash flow statement

Attend industry conferences

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Engage with industry professionals at conferences to expand your network and learn about current trends.

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Research upcoming industry conferences
Register for the conference
Attend the conference sessions
Network with attendees

Develop a training module

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Create a training module to demonstrate your skills in instructional design and employee development.

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Identify a training need
Develop learning objectives
Create training content
Deliver the training
Evaluate the training

Develop a business plan

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Create a business plan to apply your knowledge of business principles and gain hands-on experience.

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Identify a business opportunity
Research the market
Develop a business strategy
Write a business plan
Present your business plan to investors

Career center

Learners who complete Management in Engineering: Accounting and Planning will develop knowledge and skills that may be useful to these careers:

Financial Analyst

Financial Analysts provide financial advice and guidance to individuals and organizations. This course can be a valuable resource for aspiring Financial Analysts, as it provides a strong foundation in financial accounting and analysis. By learning how to construct financial statements and perform ratio analyses, learners will be better prepared to evaluate the financial performance of companies and make informed investment decisions.

See salaries and explore the career path for Financial Analyst

Accountant

Accountants perform a variety of duties essential to the financial health of organizations, including recording and classifying financial transactions, preparing financial statements, and analyzing financial data. This course can help aspiring Accountants build a foundation in financial accounting, which is a core competency for this role. By learning how to construct financial statements and perform ratio analyses, learners will be better equipped to understand and interpret financial information, which is crucial for making informed business decisions.

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Management Consultant

Management Consultants help organizations improve their performance by analyzing business needs and developing solutions. This course can be a valuable asset for aspiring Management Consultants, as it provides a comprehensive overview of key business functional areas, including finance, sales, and marketing. By gaining a solid understanding of these areas, learners will be better prepared to identify and address business problems and develop effective solutions.

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Business Analyst

Business Analysts help organizations improve their performance by analyzing business needs and developing solutions. This course can be a valuable asset for aspiring Business Analysts, as it provides a comprehensive overview of key business functional areas, including finance, sales, and marketing. By gaining a solid understanding of these areas, learners will be better prepared to identify and address business problems and develop effective solutions.

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Operations Manager

Operations Managers oversee the day-to-day operations of organizations. This course can be a valuable asset for aspiring Operations Managers, as it provides a comprehensive overview of key business functional areas, including operations, sales, and marketing. By gaining a solid understanding of these areas, learners will be better prepared to manage the day-to-day challenges of running a business.

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Strategy Consultant

Strategy Consultants help organizations develop and implement strategies to achieve their goals. This course can be a valuable asset for aspiring Strategy Consultants, as it provides a foundation in strategic planning and analysis. By learning about industry analysis, competitive analysis, and financial analysis, learners will be better prepared to develop and implement effective strategies for organizations.

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Project Manager

Project Managers plan and execute projects to achieve specific goals. This course can be a valuable asset for aspiring Project Managers, as it provides a foundation in project management principles and practices. By learning about project planning, scheduling, and budgeting, learners will be better prepared to manage projects effectively and efficiently.

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Supply Chain Manager

Supply Chain Managers oversee the flow of goods and services from suppliers to customers. This course can be a valuable asset for aspiring Supply Chain Managers, as it provides a foundation in supply chain management principles and practices. By learning about inventory management, logistics, and transportation, learners will be better prepared to manage the complexities of the supply chain and ensure efficient and effective delivery of goods and services.

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Investment Banker

Investment Bankers help companies raise capital and provide financial advice on mergers and acquisitions. This course can be a helpful stepping stone for aspiring Investment Bankers, as it provides a foundation in financial accounting and analysis. By learning about financial statement analysis and valuation techniques, learners will be better prepared to evaluate the financial health of companies and make informed investment decisions.

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Consultant

Consultants provide expert advice and guidance to organizations on a wide range of business issues. This course can be a helpful starting point for aspiring Consultants, as it provides a foundation in business management and planning. By learning about financial accounting, sales, marketing, and operations, learners will gain a well-rounded understanding of business operations and be better prepared to provide valuable insights to clients.

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Sales Manager

Sales Managers lead and motivate sales teams to achieve revenue goals. This course can be a helpful resource for aspiring Sales Managers, as it provides a foundation in sales principles and practices. By learning about sales techniques, customer relationship management, and sales forecasting, learners will be better prepared to lead and motivate sales teams to success.

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Product Manager

Product Managers are responsible for the development and launch of new products and services. This course can be a helpful resource for aspiring Product Managers, as it provides a foundation in marketing principles and practices. By learning about market research, segmentation, and product development, learners will be better prepared to identify and develop products and services that meet the needs of customers.

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Marketing Manager

Marketing Managers plan and execute marketing campaigns to promote products and services. This course can be a helpful resource for aspiring Marketing Managers, as it provides a foundation in marketing principles and practices. By learning about market research, segmentation, and marketing communications, learners will be better prepared to develop and implement effective marketing campaigns.

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Data Analyst

Data Analysts use data to help organizations make informed decisions. This course can be beneficial for aspiring Data Analysts, as it provides a foundation in data analysis techniques. By learning how to apply analytical tools to business decisions, learners will be better equipped to analyze and interpret data, and draw meaningful insights from it.

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Technical Writer

Technical Writers create and maintain technical documentation, such as user manuals, white papers, and training materials. This course can be a helpful resource for aspiring Technical Writers, as it provides a foundation in writing and communication principles. By learning about technical writing techniques, style guides, and documentation standards, learners will be better prepared to create clear and concise technical documentation that meets the needs of users.

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Reading list

We've selected 14 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Management in Engineering: Accounting and Planning.

Accounting

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Provides a comprehensive overview of financial accounting principles and practices. It valuable resource for students who want to learn the basics of financial accounting or for those who need a refresher.

Financial Accounting: Tools for Business Decision...

Management in Engineering

Accounting and Planning

What's inside

Learning objectives

Good to know

Save this course

Reviews summary

Promising engineering management course

Activities

Career center

Reading list

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