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Integrating
Business Concepts into the
Textile and Apparel, Technology and Management Curricula
Helmut
H. Hergeth and Michelle R. Jones
College of Textiles
Through
a systematic review process for assessing industry needs and challenges
in the US textile and apparel workforce, the Textile
and Apparel, Technology and Management (TATM) Department of
North Carolina State University, develops new courses and modifies
its existing textile and textile supporting courses. This process
helps to equip students with a basic knowledge of the critical issues
and problems solving tools required for managerial decision-making.
Examples of the courses and projects that provide this experience
include:
Textile
Finance
Through
a partnership with the College of Management at NCSU, a section
of corporate Financial Management (BUS 320) is taught in the College
of Textiles. The focus of the class remains the fundamental concepts
of finance (e.g., maximizing shareholder's wealth, time value of
money, capital budgeting, securities valuation and risk assessment,
etc.), however, the examples used are derived from the US textile
and apparel industry. Students participate in a semester analysis
project where they select and follow the activities, such as the
issuance of new securities, introduction of a new product, or even
a change in leadership of the company, and report on how these activities
impact the reported stock prices and ratings reported by financial
analysts. The aim of the report is to allow them to demonstrate
their level of knowledge with concepts learned and become familiar
with using publicly available financial resources.
Textile
Marketing
The
Principles of Soft Goods Marketing (TAM 382) course is based around
students participating in an entrepreneurial-centered project. To
teach the basics of marketing (product, price, promotion, placement,
customer), a semester project is used to allow students to perform
activities related to each concept. In groups, students are to identify
a new market opportunity (customer or product) and then take the
idea to a plan of commercialization in a final report - marketing
plan. The feedback from the students indicate that although it appears
to be a large amount of work involved, they did value the benefit
of being able see the concepts "brought to life" with
their projects.
Textile Product Costing
The
topics of cost and cost control have been much discussed at all
levels of the integrated textile complex. Different methods of product
costing are discussed in the course Product Costing in the Textile
and Apparel Industry (TAM 481). Traditional standard costing concepts
as well as activity based costing are discussed, with an emphasis
on how cost information impacts decision making and capital budgeting.
Target costing concepts are discussed and the connection between
cost, marketing, and product development. The course also addresses
the issues of cost structure and economies of scale versus economies
of scope.
Textile Strategic Planning
The
course Management Decision Making for the Textile Firm (TAM 484)
addresses strategic management issues in the textile environment.
Management decision tools and strategic analysis tools are described
and applied in textile relevant settings. Using mostly case methods,
there is a heavy emphasis on discussion and decision making in applied
business situations, including global aspects of management. Students
make decisions and defend their decisions within the class setting.
Feedback from former students contributes to the kind of decision
situations that are discussed in the class.
Summary
The
Textile and Apparel Management programs contain an ideal mix of
fundamental and applied business concepts as well as technological
knowledge. Building on basic economic concepts taught in general
courses in the university, the Department of Textile and Apparel
Technology and Management brings more advanced business concepts
into the textile and apparel environment. Courses describe and apply
concepts in corporate strategy, marketing, product development,
costing, and finance. Concepts of global business and sourcing,
logistical planning, and production planning are integrated throughout
the courses in the TATM degree programs.
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Mission
Statement 
College
of Textiles