While research labs may have more room for creativity and freedom, I believe there is some downside to this that corporations can avoid. In previous lectures, we have learned that oftentimes academics are free to take on as many projects…   Read more»

I do believe that engineering students should be required to take at least one or two courses on businesses and how they are run. Similar to quality control, if an engineer only thinks about the science of a product and…   Read more»

It is very true and important that taking a business course would definitely benefit engineering students entering the industry. However, rather than requiring a full semester-long course, offering certifications could be a more effective approach. Certifications allow students to learn…   Read more»

I agree that building a business requires careful planning and a solid foundation in both finances and marketing. One thing to keep in mind, though, is that while understanding accounting and financial statements is crucial, many first-time business owners underestimate…   Read more»

In corporate teams, clear roles and hierarchies streamline productivity, but they can sometimes limit creativity by restricting how people think and collaborate. In contrast, research labs offer more academic freedom and interdisciplinary collaboration, which can fuel creativity but may slow…   Read more»

It is a good question. I also agree with you. If I want to work then I will definitely work for a large company. There are lessen risks. I can gather more skills quickly. Most importantly it is more secure….   Read more»

When deciding between going with an S-Corp or C-Corp structure, one must carefully weigh the benefits of tax savings against broader opportunities such as raising capital and attracting investors. As mentioned, S-Corps have flow-through taxation. Basically, their income is only…   Read more»

Regulatory agencies like the FDA and EMA operate similarly to non-profits, focusing on public safety rather than profit. They are funded through government budgets and user fees from companies seeking product approval. While these fees help expedite reviews, they can…   Read more»

In public companies, shareholders and investors motivate a large portion of the direction that Engineering goes to. In private companies, the management is the main motivation of Engineering and research. You’ll see that in many private companies, such as Space…   Read more»

If I were to start a business, I would define my business to be a small one because I would like to manage it on my own given that I do not have any background in business management. If the…   Read more»

Regulatory agencies such as the FDA and EMA, while governmental agencies, tend to operate similarly to non-profit organizations. They do not generate their own profit. Instead, they focus on providing the public service of ensuring that medical products are safe…   Read more»

I think it can be an optional course counted toward the degree, not a mandatory course though because each person has his/her own path and not that everyone will need or willing to take that course enjoyably. With that being…   Read more»

I think this is a great topic to dive deeper into! I have experience in both, working in a research lab during my undergraduate studies and the corporate lab space in my professional career. I absolutely agree that research labs…   Read more»

I think that it is up to your own preference. I always believe that if you consider fresh-out-of-school employment to be the time to learn and pick up several skills, start up is the way to go because most of…   Read more»

If I were to start a business, I would first consider how my business would make an impact in the industry, who are the consumers, and how who would invest in my company. There may be a market gap to…   Read more»

I agree that structure in corporations can lead to restrictions in their research goals. For example, corporations are meant to make money, and run by board members and Officers that might not be motivated by research, and only by making…   Read more»

You’ve got a good point about how corporate teams and research labs differ! In a corporate setting, having clear roles and hierarchies can really help with getting things done since everyone knows their responsibilities. But it can also stifle creativity…   Read more»

An extra business course could really help engineering students, especially those looking to get into project management, product development, or even starting their own businesses. While NJIT’s engineering management course covers the basics, having a deeper understanding of things like…   Read more»

Regulatory agencies like the FDA and EMA act more like government service organizations than typical businesses. Their main job is to make sure medical products are safe and effective, and they fund this work through a mix of government budgets…   Read more»