Societal role expectations of management accounting professionals: an Australian study

Purpose This paper seeks to advance the understanding of the relevance of management accounting (MA) as a profession by examining societal role expectations of MA professionals in Australia.Methodology/approach The study presented in this paper is based on a questionnaire survey.Findings Findings of the study show that Australian MA professionals are expected to have skills in cost management, corporate social responsibility, carbon accounting, risk management, business analysis, corporate governance, and asset valuations. The demand of MA professionals exceeded the pool of MA talents in Australia. The role expectations of MA professionals from different stakeholder groups are fairly consistent.Social implications The study adds to the immigration institution discussion by demonstrating that there are inadequate professionals in Australia with the skills and experience in MA to meet the projected demand. Australia has very little option but to fill the supply-side shortfall in the short-term with overseas MA professionals.Originality/value The study adds to the literature of the societal relevance of MA by providing evidence of an increasing demand for MA skills in Australia.

HRM retrenchment practices and firm performance in times of economic downturn: exploring the moderating effects of family involvement in management

A substantial number of studies have indicated a significant negative relationship between human resource management (HRM) retrenchment practices such as downsizing, and firm performance. However, a consideration of the potential effects of business family involvement in management is largely absent from the general employment restructuring literature. Using a sample of 218 Taiwanese publicly listed firms, this study seeks to further our understanding in this area by examining the moderating effects of family involvement in management on the relationship between the adoption of HRM retrenchment practices and firm performance during the period of global economic downturn that erupted in the middle of 2008. Data analysis reveals that HRM retrenchment practices had a negative influence on firm performance, and that the relationship between HRM retrenchment practices and firm performance was negatively and significantly moderated by family involvement in management.

Enterprise localization practices and their implication for knowledge management in foreign participation in the Chinese construction sector

Foreign firms active in the Chinese construction industry find themselves in a competitive environment unlike the environments in which they operate back home. Adaptations are therefore required in order that firms retain competitive leverage while integrating into the circumstances of the Chinese market. Since these firms primarily compete on superior knowledge capabilities it is instructive to understand how adaptations both serve to transfer propriety capabilities to China while adapting to the knowledge characteristics of the Chinese market into which those capabilities are transplanted. Five localizing parameters across which adaptations take place are identified in this paper and rates of localization are tabulated for 60 foreign firms active in the Chinese construction industry. Revealed localizing behaviors are then analyzed in the light of existing literature for explanatory power. It is concluded that in order to be strategically competitive firms must not only retain knowledge differentials, but that the knowledge must be coded and disseminated in a manner suited to the environment in which it is to be utilized.

Employment relations : integrating industrial relations and human resource management

Incorporating Human Resource Management policies within the regulatory and institutional framework that governs contemporary industrial relations has always been problematic. This paper details the nature and causes of this problem, noting the different conceptual and practical understandings that underpin each form of labour management when being applied in organisational settings. It then looks at a range of industrial relations realities confronting managers when trying to apply HRM practices, and how these practices might be accommodated within the context of such realities as a means of improving organisational effectiveness. In so doing it delineates four approaches an organisation might take in its relations with trade unions when bargaining and concluding labour contracts, and which of these are consistent and inconsistent with the coexistence of HRM and industrial relations practices. It then looks at the issue of workplace change involving trade unions and collective bargaining in terms of three categorical models—the management-driven model, the trade union gatekeeper model, and the management-union alliance model, the intention again being to show which are consistent and inconsistent with the coexistence of these different forms of labour management. The paper concludes by drawing on these conceptual models to outline the issues and policies that need to be considered when applying HRM practices within an industrial relations setting.

Faculty collaboration in teaching global business, MBA teaching process

This presentation stems from global business teaching and ongoing research of an interactive group of professors working together in the service delivery of online MBA education at University of Maryland University College . A model for collaborative teaching by delocated professors who literally span the globe – from Australia to Canada, including the United Kingdom, both coasts of the USA, China and Dubai - is offered, underscoring the enormous mobility of knowledge and knowledge workers. Working together as a collaborating team, it was found that the "whole is greater than the sum of the parts". The teachers became more than a teaching team, they became a collaborating operation as they worked together in the sharing and development of materials, insights and knowledge. The model demonstrates how the teaching of global business in an MBA environment is really an exercise in the management of global service operations.

Encouraging SMEs to participate in the management of common pool resources

In this paper we contribute to an understanding of how small and medium sized enterprises (SMEs) can be encouraged to participate in the management of environmental common pool resources. We do this by applying ideas from general theories about collective actions and, using evidence from interviews of people with experience dealing with SMEs, show how the ideas are relevant to SMEs. In line with previous research, we present evidence that communication is also necessary to help ensure SME participation. We conclude noting some evidence that suggests that local networks may contribute to successful management of global common pool resources.

Intranet and internet uptake and usage within UK building surveying practices. A user based evaluation of advantages and disadvantages

The ‘single most important technological discovery since the birth of the p.c.’, (Gates, 1996). The swift increase in Internet utilisation within businesses and surveying has changed working methods within UK based Surveying practices. User numbers expanded rapidly since the early 1990’s and estimates place a figure of 150 million internet users globally (www.Yahoo.com, 2000). Sloan and Kee Low (2000) established that ‘e-commerce’ is a revolutionary way of trading and conducting business activities. There are opportunities for surveying practices including, reducing communication time, increasing revenues from new and existing sources, enhanced client satisfaction and competitive advantage (Cronin, 1996). Others (Dixon, 1998) perceive threats, such as ‘disintermediation’, to the traditional role of the surveyor.

This research examined the levels of internet and intranet access within the UK Building and Quantity Surveying practices and corporate firms to establish how the internet has affected working methods and client requirements. The research method comprised a qualitative approach using an email and postal questionnaire survey of a random sample of practices. The questionnaire findings formed the basis of semi structured interviews conducted with senior management of large practices to gain a deeper understanding of the issues identified within the survey.

Data analysis revealed the traditional role of the surveyor as a broker of information may be under threat in the long term. Generally levels of internet access in the sample exceed that of general business levels (Dti, 2000) with the largest growth pre 1997. The perceived advantages and barriers to Intranet and Internet usage were identified by the research.

Recruitment and selection of Vice-Chancellors for Australian universities

This study addresses the gap in our understanding of the processes used to recruit and select Vice-Chancellors for Australian Universities. There are presently 39 recognised Universities in Australia and between them they provide the nation with the academically qualified leaders of the future. As such one would expect that not only would they be the vessels of our knowledge, but also that they would be managed and led in ways that were similar to those in use in the private sector. The changes that have taken place in the higher education system have meant that additional pressures have been placed upon the senior executive of each University. The transition from a binary system to the current unified system, the advent of the global community, increased technology and new management practices have created the need for University management to adopt recognised management and leadership practices. The Federal government has moved to reduce the dependence of the system upon recurrent funding and there has been an increase in managerialism within Universities. One outcome has been the need for the Chief Executive Officer (Vice-Chancellor) to develop additional management and leadership skills in order to cope with the changes occurring and the rate of change. In the United States, the selection criteria used to recruit Vice-Chancellors (or University Presidents) have changed to reflect the desire for candidates to have backgrounds in management and leadership. The role of the Vice-Chancellor is critical to the success of educational institutions that are now being managed as autonomous business units responsible for budget, growth, mergers as well as maintaining academic credibility. A literature review revealed that the work undertaken by David Sloper formed virtually our entire knowledge base of Vice-Chancellors in Australia. Sloper identified democratic and incumbency patterns, social characteristics, the legal basis for the role and what incumbents actually do. Thus we know quite a deal about the role and incumbents. However the same literature review showed that while this data existed, it did not extend to the processes that were used within the Higher Education system, to target, identify and select suitable candidates. Clearly there was also no examination as to the effectiveness of such processes or how they could be improved if necessary. Given the importance of Universities in Australia and their role in Higher Education, this lack of knowledge provided the basis for this study and the systematic review of all available data. The study also identified a paradox in addition to the lack of research on recruitment and selection practices in this unique microcosm. The paradox concerns the fact that many of the successful candidates do not come from a ‘business’ discipline as may be expected for a role considered to be the Chief Executive Officer of the institution. Yet in Australia, previous research indicated that the ‘rules’ for recruiting Vice-Chancellors have changed little and that traditionally candidates have come from the science disciplines (Sloper, 1994). While this in itself does not indicate that incumbents are lacking in fundamental management and leadership knowledge and expertise, an obvious question arises. Why are Australian Vice-Chancellors not drawn from faculties where this expertise resides or why are they not drawn from the business community? In order to further examine the processes in place and to a lesser extent the paradox, all available data was collected regarding the roles of Vice-Chancellors, the paths they have taken to the position as well as selection criteria, position outlines, job adverts and related material. This was thoroughly examined and then a brief questionnaire was forwarded to current incumbents and other involved stakeholders. Interviews were conducted to clarify specific issues and case studies prepared accordingly. Thus this qualitative study thoroughly researches the recruitment and selection practices in use, attempts to determine their effectiveness and addresses the paradox in order to provide a detailed framework that allows these elements to be explained.

Thai hedging practices : post Asian financial crisis

This paper provides survey evidence captured from a sample of 113 respondents to a 2008 questionnaire that was sent to 344 listed non-financial companies in Thailand. The study examines how Thai companies manage their exchange rate exposure post Asian Financial Crisis.

Thailand is an interesting case study because it was a country at the core of the 1997 financial meltdown and was one of the first forced by the crisis to move from a fixed to a floating exchange rate regime. It is therefore constructive to examine how businesses in Thailand have coped with a shift from a fixed to floating exchange rate and to examine how they manage their exchange rate exposure post 1997.

Findings indicate that companies that use currency derivatives do so to reduce volatile cash flows are less risky and tend to be more profitable than companies that do not use currency derivatives. This is consistent with the theory that hedging increases the value of the firm.

The type of instruments that companies in Thailand use and how they are used is similar to what other studies find in other countries. Matching and the use of forward contracts are the most common ways that companies manage transaction exposure. The study also confirms that companies with higher levels of international business engagement are more likely to use currency derivatives.

What is unique in Thailand is that Thai businesses are less rigorous in their internal control of their currency hedging activities. It is therefore recommended that companies consider a documented hedging policy and that senior management actively monitor the policy and currency hedging activity.

The accounting professional of the future : never mind the quality check the look!

Using legitimacy theory this paper contrasts the values portrayed by public accounting firms via their recruitment practices and society's expectations of the responsibilities of a professional accountant. Society confers on organisations legitimacy when the value system of the organisation is congruent with the value system of the larger social system (Deegan, 2006). It is argued that there is increasing incongruence between the value system of public accounting firms (that employ accounting graduates) and society's value system that includes an expectation of accountants to act in the public interest. This study draws on evidence from recent corporate collapses, to question whether the attributes/skills displayed by accountants have reduced their capacity to act in the public interest. Interviews with employers show that preferences for employment are given to graduates who 'fit the culture' of the organisation and have the ability to 'market' the firm to clients. Attributes that define the professional accountant appear to be less highly valued. It is concluded that the attributes valued in the workplace today have the potential to increase the risk of 'severing the social contract' between the accounting profession and society.

A new vision of management : full potential management model

This paper establishes the Full Potential Management (FPM) Model based upon the social model of disabilities coupled with principles of diversity management and disability-oriented human resource management. Despite the fact that the concept of management was once envisioned as having 'value to society ' by improving the quality of life through efficient practices (Rimler, 1976), management literature has narrowly defined management as a means to gain increased productivity and achieve organizational goals, thus overlooking the social formation and implementation design for a better life (Diener & Seligman, 2004; Small, 2004; Whitley 1989). Based upon the diversity literature, we propose that social-oriented diversity management principles and practices are the key to transforming management concepts from achieving organizational potential to achieving social aims that maximize the potential and quality of life of each person.