Business Development in Engineering Sector - Essay Example

? Business Development in Engineering Sector Introduction Business development is defined as the process of developing marketing and sales strategies for firms. Business development in the engineering sector involves setting priorities and project management with a touch of technical and engineering practices (Rob, 2002). The modern global knowledge on economy requires a renewed approach to the nature of engineering practice. Sales and marketing are intertwined with financial and personnel management. It also involves defining goals and outcomes before product development process. This calls for acute understanding of the customer expectations. Research shows that the mastery of technological and scientific disciplines is not enough to deal with the market dynamics of a technologically driven economy. There have been profound implications in the technologically driven global economy. Developing business in the sector requires engineers capable of working in different cultures and with knowledge on the dynamics of the global markets. The distinction between collaboration and competition in the sector continues to blur. Therefore, new perspectives must be developed to build competitiveness in the sector. This paper will be discussing the changing global knowledge which has driven economy and caused the engineering sector to shift from the conservative to business-sensitive approach in a quest meet the organizational objectives, business development needs and respond to the customer expectations High quality engineering services are being developed in countries with cheap labor (Rob, 2002). The aim is to lower the costs of labor. Developed countries like United States have been forced to look for cheaper labor to compete with China and India. Contemporary business development practices demands that interdisciplinary strategies be used to attract potential customers, develop quality products and other stakeholders (Annacchino, 2007). The modern engineering practice is bound to shift from the conservative approach of market ting and service delivery. Engineering sector is calling for innovative solution with involve cultural, social, ethical and environmental issues. Modern engineers rarely take the leadership positions in business issues (Haaf et al, 2002). The knowledge-intensive business society demands engineers with knowledge concerning marketplace and how to develop technical solutions are responsive to the needs of the society. The culture in developed countries, the free-market and demographic values offer a conducive environment for technological innovation. Business development in engineering sector shall involve empowering the engineers with sales and marketing skills (Annacchino, 2007). The brand dynamics must be understood in the sector (Rob, 2002). Technical engineers are product developers. They should be in a position to understand the market needs and competitiveness of services and products. Adding value in the engineering sector shall entail giving them the skills on developing competitive products, understanding market needs, responding the consumer expectation and means of sales (Haaf et al, 2002). This demands increased creativity, innovation and communication skills. The construction industry can develop competitive designs that address consumer concerns. This involves ensuring the stakeholders deliver quality in the construction process. There has been a long standing conflict between marketing and engineering (Haaf et al, 2002). The conflict is being addressed through integration, commercializing of products and establishing successful development processes (Annacchino, 2007). This demands support from management to ensure products are developed in an integrated process. This marketing process takes into consideration the personality differences and capabilities of the manufacturing personnel. Knowledge management is the use of strategies to identify, distribute, and adopt experiences and insights beneficial to an engineering organization (Rob, 2002). An increasing number of engineers are acquiring marketing knowledge (Rainey, 2006). Marketing orientation is important in the development of the sector. Product success in the engineering sector is dependent on harmonious relations and good communications (Haaf et al, 2002). New products development and launch calls for thorough market research (Rob, 2002). This means design consultancy services are needed at every level. It addresses issues ranging from the process of designing, implementation and evaluation of a plan (Rainey, 2006). The process of integrating engineering personnel and marketing must be deliberate (Rob, 2002). This calls for mutual understanding and vibrant communications. Product development process is meant to achieve marketing expectations in the engineering sector calls (Annacchino, 2007). This can only happen with co-operation among stakeholders. This cooperation assists in managing diversity in terms of breadth and number of products needed (Haaf et al, 2002). Engineers need marketing and sales information and knowledge (Sekkat, 2010). This can also be enhanced through team building, better communications and training. Business development entails taking competitive advantage though innovation and strategic management (Rainey, 2006). Most engineering firms want employees who can work in atmospheres of cultural diversity besides acquiring highly specialized skills in the engineering sectors (Haaf et al, 2002). Engineering firms are operating in global value chains that demand high level marketing skills and quality products. The management of the sector and other stakeholders aim at making engineering competitive through training and sensitivity consumer relations (Haaf et al, 2002). Many engineering firms are using globally competitive supply chains to exploit new products and to introduce concepts in the marketplace. This is being done in conjunction with centers of research (Rainey, 2006). There is a growing need to develop skills to match the technological advancement and liberalization of trade (Sekkat, 2010). Business development in engineering sector must be addressed in terms of product development, sales and marketing (Rob, 2002). The roles of the stakeholders are intertwined in the product and business development process (Annacchino, 2007). The marketing process involves quality control, research, inventory management and technical services. Business development in the engineering sector incorporates macro and micro factors. The location of the firm plays an important role in the business development (Rainey, 2006). The cost of production, ease of delivery and experience of the suppliers create a significant mass that attracts buyers and investors (Haaf et al, 2002). The engineering sector is expected to pay attention to bringing suppliers and customers together. Effectiveness in the business environment calls for networking and cooperation among strategic market players (Rob, 2002). The dynamism of the modern business environment calls for flexibility in management of core competencies (Sekkat, 2010). The engineering sector is supposed to move and the needs of the consumer shift. Engineering firms need to have visions and analyze business future expectations (Annacchino, 2007). The expectations should be weighed against the current situation of the organization (Rainey, 2006). This would make it easy to fill in either the marketing or technological gap (Rainey, 2006). Developing business strategies in engineering sector demands definition of strategy and development activities (Sekkat, 2010). Industrial competition is driven by competitors, suppliers, buyers, substitutes, and potential entrants. Every phase of business development process has its own demands which determine the success of the entire process. According to Porter, businesses must discover their strengths and major in them. Engineering firms are expected to adapt to the rapidly changing technologies and competition (Rob, 2002). This calls for constant review of strategies in product development processes and flexibility in management. Core competencies must be altered to evolve with the changing market needs (Rainey, 2006). Modern engineering calls for a swift adaptation of competitive business models. Modern engineering sector has complex systems interactions, which are increasingly becoming complex (Rob, 2002). Engineers are using the emerging technologies to like micro-mechanical sensors and wireless data transfer (Haaf et al, 2002). Business development in the engineering sector must embrace the complexities of the traditional approach of the engineering sector and the changing technological needs of the business and technological sector (Annacchino, 2007). Business development is engineering and technological sector is increasingly becoming complex. Competitive business calls to technology empowered sales and marketing (Rainey, 2006). Engineering sector is an innovative and technological business which must work with reality of possibilities (Sekkat, 2010). Therefore, the accuracy of the roadmaps and the strategies to develop them plays a central role in the success of the sector. Research shows that the gap between development of businesses and the engineering strategies can be bridged through support systems (Haaf et al, 2002). The consumer can communicate with the marketing teams through mobile applications and social media. The marketing teams can communicate with technical personnel using multiple technological platforms any time. This means that the business strategies in the engineering sector must embrace teamwork and information systems in order to meet the consumer needs with precision (Rainey, 2006). The firms have improved the processes of business transactions. It has become easy to monitor the accuracy of product development systems. There is need to change the competencies that drive the value chains to reflect changes in business strategies and companies. This must be understood in the context of market opportunities and enhancement of the engineering solutions technologically. This shall the companies profitable and sustainable. However, most technological solutions may fail to capture the expectations of consumers. Modifications of engineering are expensive but needful in the process of business development process. The process of business development in the engineering sector incorporates a productive balance between technological innovations, product development, marketing and sales. This calls for focused development initiatives in the major players in the engineering sector. The entire process commences with analysis, continues with development of strategies and products and culminates with implementation. Through strategic combination of the marketing and technical processes in the sector, it is possible to improve competitiveness of the sector. Value addition in engineering sector is being achieved through innovation and brand equity. This has made the sector increasingly competitive in a rapidly evolving global economy. References Annacchino, M. A. (2007). The pursuit of new product development: The business development process. Amsterdam: Butterworth-Heinemann. Haaf, W., Bikker, H., & Adriaanse, D. J. (2002). Fundamentals of business engineering and management. Delft: Delft University Press. Rainey, D. L. (2006). Sustainable business development: Inventing the future through strategy, innovation, and leadership. Cambridge: Cambridge University Press. Rob, E. (2002). Power surge: Renewable energy's latest contender is lurking by a coast near you. Engineering Business to build prototype tidal power station in UK, 18(1), 17-27. Sekkat, K. (2010). Market dynamics and productivity in developing countries: Economic reforms in the Middle East and North Africa. New York: Springer. Read More