MME40001 Engineering Management II
Minor Activity Sheet 5
Name: Kawan Lotia Tutorial Group:
Student ID: 101668276 Date: 17/08/20
I. What are the main types of strategies/ dimensions?
Big decisions to help us to answers small decisions
Cost
Quality
Responsiveness
Focus
You can request us to be fast, high quality and low cost
II. What is Product Life Cycle and why it is beneficial?
An important resource for advertisers, executives and designers alike, is the product life-
cycle. This specifies four different stages of a product's life and provides guidelines for the
creation of strategies to make the best use of those stages and to facilitate the overall
market success of the product
III. What is SWOT analysis and why it is beneficial?
SWOT Analysis is a clear but valuable method to evaluate the strengths , limitations,
opportunities and challenges the company has to face. It lets you build on what you do well,
fix what you lack, mitigate risks, and take advantage of chances of success to the fullest
extent possible.
S = Strength W = Weakness
O = Opportunities T = Threats
