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SUMMARY OF TOPICS
EEE610
02 SEPTEMBER, 2016
Laws
1.0
Laws
Definition of law is a system of rules and guidelines which are enforced through
social institutions to govern behaviour.
1.1
1.2
Classifications of Law:
1.3
Contract Law
Contract is an agreement between two (2) or more people that is legally binding.
Contract is the foundation or base of all commercial transactions. A contract is a deal
from which both parties expect to benefit.
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1.4
Commercial Law:
Commercial law is the body of law that governs business and transactions.
I.
Private Law
II.
Public Law
1.5
Industrial Relations
Discuss about the laws and regulations that regulate the relationship between
employer and individual employee.
a. Employer
b. Employee
1.6
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1.7
Product Liabilities
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2.
Engineering Ethics
2.0
Definition of Ethics
Ethics is define as the study of characteristics of moral, and involves the moral
choices made by individuals as they interact with other person.
2.1
Engineering ethics means rules and standards governing the conduct of engineers in
their roles as professional.
2.2
Engineers uphold and advance the integrity, honour and dignity of the engineering
profession by:
I. using their knowledge and skill for the enhancement of human welfare;
II. being honest and impartial, and servicing with fidelity the public, their
employers and clients;
III. Striving to increase the competence and prestige of the engineering
profession
IV. Supporting the professional and technical societies of their disciplines.
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2.3
Obligations placed on engineers are not principally limitations, but enablers of their
practice. Engineers are highly valuable to society. Ethical obligations are necessary in
order for engineers to carry out their profession.
2.4
SCIENTISTS
To God
To the environment.
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1.
Human Resource Management (HRM) is the function within an organization that focuses on
recruitment of, management of, and providing direction for the people who work in the
organization.
2.
2.0
Staffing/recruitment
Compensation
Staffing / Recruitment
2.1
Human Resource Development (HRD) is a major hrm function consisting not only of
training and development but also of individual career planning and development
activities, organization development, and performance management and appraisal.
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2.2
Compensation
2.3
2.4
Safety involves protecting employees from injuries caused by work related accidents.
Health refers to the employees freedom from physical or emotional illness.
3.
Manpower planning
Consists of putting right number of people, right kind of people at the right place,
right time, doing the right things for which they are suited for the achievement of
goals of the organization.
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The procedure:
3.0
Efficient utilization
Motivation
Higher productivity.
3.1
3.2
Recruitment sources
1. Internal sources
2. External sources
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3.3
Selecting employee
3.4
Improving competitiveness
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1.
2.
3.
Types of Maintenance
Maintenance can be classified into three different types:
I.
Corrective Maintenance
II.
Preventive Maintenance
III.
Breakdown Maintenance
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4.
Establishing responsibility
Record keeping
4.1
Non-destructive testing
Periodic inspection
4.2
5.
The objective of breakdown maintenance are the maximisation of the effectiveness of all
critical plant systems, the elimination of breakdowns, the elimination of unnecessary repair,
and the reduction of the deviations from optimum operating conditions.
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6.
7.
Measurement.
Analysis / trending
Diagnosis of faults.
Reporting
8.
Life cycle cost is the total cost of ownership of machinery and equipment.
8.0
Provides best results when both art and science are merged with good
judgment.
Total cost of the product can be calculated over the total span of product life
cycle.
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8.1
Affordability studies
Design trade-offs
8.2
Advantages of LCC
8.3
Disadvantages of LCC
9.
Inventory control
9.0
Definitions
Stock means the goods which are with one when one is selling items or
goods.
Stock inventory is the total items with the person who is doing business.
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9.1
Purposes of Inventory
9.2
Types of Inventories.
Raw materials
Work-in-Process (WIP)
Finished products
10.
Economic Order Quantity (EOQ) is the order quantity that minimizes total inventory
holding costs and ordering costs.
Annual demand, carrying cost and ordering cost for a material can be
estimated.
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Introduction
2.
Scope of Study
2.0
Financial Analysis
Financial Control
2.1
Financial Planning
Financial decisions
Investment decisions
2.2
Financial Analysis
Financial analysis refers to study of financial health from different interested groups
(management, employee, government, suppliers, lenders, investors etc.) point of
view.
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2.3
Financial Controls
3.
Capital Investment
In economic
In finance
Capital investment
Capital budgeting
3.0
Capital Budgeting
Capital budgeting decisions involve long-term implication for the firm, and
influence its risk complexion.
II.
III.
IV.
3.1
ROI is the most profitability ratio. This analysis compares the magnitude and timing
of investment gains directly with the magnitude and timing of investment costs.
There were the concepts of ROI:
i.
ii.
iii.
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3.2
3.3
3.4
1 (1 + i)-n
NPV = R
Initial Investment
I
) Initial Investment
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3.5
The main objective in calculating internal rate of return is to net present value equal
to zero.
NPV = 0
CF1
CF2
1
(1+r)
CF3
2
(1+r)
(1+r)
4.
4.0
building, machinery, equipment and etc. over its period of the project.
There are three methods in calculating depreciation:
i.
ii.
iii.
4.1
Capital Allowance
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The initial allowance of the assets that is given only once in the first year it is
earned.
ii.
Assets cost
4.2
Cash flow reports the movement of cash into and out of the business in a given per
year.
Cash flow statements are broken down into three sections:
i.
Operating activities
ii.
Investing activities
iii.
Financing activities
4.3
Assets
Liabilities
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4.4
Direct materials
Direct labour
Overheads
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Engineering economy is about determining the economic factors and the economic
criteria utilized when one or more alternatives are considered for selection.
2.
Macroeconomics looks at the total output of a nation and the way nation allocates its
limited resources of land, labour and capital in an attempt to maximize production
levels and promote trade and growth for future generations.
Microeconomics looks into similar issues, but on the level of the individual people
and firms within the economy.
3.
3.0
Concept of Demand
3.1
Law of Demand
The law of demand states that, if all other factors remain equal.
3.2
Concept of Supply
3.3
Law of Supply
The law of supply demonstrates the quantities that will be sold at a certain price.
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3.4
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4.
4.0
Agency Theory
Agency theory is concerned with the relationship, in which one party (the principle)
delegates work to another (the agent), who performs that work.
4.1
The ease with which firms may enter and exit the market.
The degree to which firms products are differentiated and the amount of
information available to both buyers and sellers regarding prices.
There must be many firms in the market, none of which is large in terms of
its sales.
All firms and consumers in the market have complete information about
prices, product quality and production techniques.
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6.
There is free entry and exit into the market, there are no barriers to entry or
exit.
8.
i.
ii.
ROI is the most profitability ratio. This analysis compares the magnitude and timing
of investment gains directly with the magnitude and timing of investment costs.
There were the concepts of ROI:
i.
ii.
iii.
02 SEPTEMBER, 2016
9.
Payback Period
Payback period in capital budgeting refers to the period of time required to recoup
the funds expended in an investment, or to reach the break-even point. For
example, a $1000 investment which returned $500 per year would have a two-year
payback period. The time value of money is not taken into account. Payback period
intuitively measures how long something takes to "pay for itself." All else being
equal, shorter payback periods are preferable to longer payback periods. Payback
period is popular due to its ease of use despite the recognized limitations described
below.:
Payback Period = (p - n)p + ny
= 1 + ny - np
(unit:years)
Where
ny
=
The number of years after the initial investment at which the last
negative value of cumulative cash flow occurs.
n
=
The value of cumulative cash flow at which the last negative value of
cumulative cash flow occurs.
p
=
The value of cash flow at which the first positive value of cumulative
cash flow occurs.
This formula can only be used to calculate the soonest payback period; that is, the
first period after which the investment has paid for itself. If the cumulative cash flow
drops to a negative value some time after it has reached a positive value, thereby
changing the payback period, this formula can't be applied. This formula ignores
values that arise after the payback period has been reached. Another formula for
Payback Period is shown as below:
Payback Period =
Initial Investment
Cash Inflow per Period
When cash inflows are uneven, we need to calculate the cumulative net cash flow
for each period and then use the following formula for payback period:
Payback Period = A +
B
C
02 SEPTEMBER, 2016
Marketing Management
i.
ii.
iii.
iv.
2.
In marketing concept, there are several points that should be considered. There are
:
3.
Customers
Market demand
Competitors
Determination of Demand
Income
ii.
Consumer preferences
iii.
Number of buyers
iv.
v.
Needs
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4.
ii.
Rapid Growth
iii.
iv.
Decline
5.
Marketing Functions
Six marketing function that covers the marketing management which is:
i.
Marketing Research
ii.
Advertising
iii.
Sales
iv.
Product planning
v.
vi.
6.
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7.
Product Planning
ii.
iii.
iv.
ii.
iii.
iv.
Back-up service.
v.
Product guarantee.
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Introduction
2.
2.0
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2.1
Scientific discoveries,
Government regulation,
2.2
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2.3
status
2.3.0 Professional Engineer
Professional engineer the meaning and purpose of this act, refers to a person
engaged in the professional practice of rendering service or creative work requiring
education, training and experience.
2.4
Communication skills:
i.
Body language
ii.
Displacement activities
iii.
iv.
Eye contact
v.
Language
vi.
Words
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2.5
Principles of Communication
2.6
Title page
Acknowledgements
Summary
Table of Contents
Introduction/Terms of Reference/Scope
Procedure
Conclusions
Recommendations
References/Bibliography
Appendices
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2.7
Presentation Skills:
Your voice
Pauses
Humors
Managing nerves
Planning
Timing
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