Assignment

Name: Asma Tabassum Maliha

ID: 193000251
Challenges and Prospects of Doing Business for
Engineering Students: Bangladesh Perspective

Engineers are, by definition, problem solvers and innovators. Whether it’s to do with
transportation, buildings, medical devices or energy sources, engineers are always looking for
ways to make everyday life better for their fellow human beings. With the rapid rate at which
changes are taking place in the world today, we all have to keep on our toes to stay ahead of the
curve, and this is especially true in the engineering world. Engineering is a broad subject which
splits into many different disciplines, including chemical, civil, and mechanical and electrical
engineering. Engineering graduates are often logical thinkers with excellent numerical and
problem-solving skills. The careers open to engineering graduates are wide and varied, although
we may wish to choose the career most relevant to your engineering specialization and related
skills. This may require extra studying and work experience; if we would like to become a
chartered engineer, for example, we will need to take a postgraduate course (MEng) and gain
professional experience.

Now when it comes to business of course engineers can do business. Engineers play a major role
in the selection and optimization of an engineering project. We have lots of examples of
engineers running business. A lot of business tycoons have engineering background. If we want
to be an entrepreneur and sell your own product, then having knowledge about business helps.
Multinational companies hire engineers with business background a lot. Statistics shows, a lot of
engineering graduates pursue business degrees (MBA) nowadays. Companies that have huge
manufacturing, distribution, and factory units prefer engineering students with the relevant
subject specializations. So yes, we can do business even if we are an engineer but there are
challenges we have to face as an engineer.

For engineers with a sound technical background, a job in their own technical specialization
seems like the perfect fit. For instance, a computer engineer would most probably be happy to
work in top IT companies, However, mid-career, when the software professional has leveraged
his or her skills to maximize learning as well as career growth, there can come a time when the
career graph plateaus. This is because, for any professional to climb further up, the professional
would need management skills.

Challenges:
 Climb the Corporate Ladder: As an engineer does not have knowledge about business
that is why they run back while climbing the corporate ladder. They also need managerial
background. With a managerial background, engineers can hope to fast-track their career
 to higher supervisory roles, and even visionary roles. This would be painfully slow
growth for an engineer without management knowledge.

 Lack of Managerial Skills: As an engineer, we have developed a deep understanding of

the technical side of work, but understanding the role of human elements in business is
necessary. Also concepts on communication, human resource management, enterprise
management, time management, and other such. These skills are critical for anyone who
aspires to take on managerial roles in their career.

 Critical in Understanding Business as a Whole: Developing a holistic perspective to work

and work related problems. Business requires observing the macro level problems.
Problem solving is far more complex and dynamic in a business environment. Learning
how to solve problems holistically is important.

 Lack of Personality Development: Engineers also need to develop their personality

development. The business school curriculum focuses a lot on group discussions,
projects, presentations, and industry visits. As a result, students hone their personality,
develop confidence, and learn to communicate well. These skills are important for any
future business.

Prospects:

 Business Creation: Business is about creating a product, creating jobs, value adding the
society and last and not the least earn money to improve the standard of living of
employees. Engineers are sure will in the front line in creating a product and one can’t
deny this.

 Product knowledge: Engineer is right person who can have Vision of building a product
till the product is developed and tested as per customer requirement. Its easy for an
Engineer to market his / her product successfully because its his/her vision and product is
created by their own hands. Customers believe an engineer entrepreneur more than any
other because they can handle the issues more technically and analytically.

 Risk taking: It is obvious that an engineer can take a risk in more calculated way
compared to any other, just because they are technically sound and can calculate the risk
of taking some technical decisions and also have a mitigation plans.