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what ‘bean-counters’ means and the reason why the term has been used with definite reference to management accountants’ conventional roles

IntroductionConventional roles of management accountants, who have sometimes been described as ‘bean-counters’ by the users of Management Accounting Information (MAI), mainly comprised of counting, comparing, recording, and reporting financial information. However, Albright & Lam (2006) claimed that the roles of the management accountants have evolved from measuring and reporting business activities to working on teams with management finance, science, marketing, and other professionals to conduct modern management initiatives. Thus, this essay will give an explanation of what ‘bean-counters’ means and the reason why the term has been used with definite reference to management accountants’ conventional roles. Furthermore, it will discuss the procedures and causes behind the change of management accountants’ contemporary roles, and consider their function in the future.Bean CountersThe traditional roles of management accountants centred on compiling, interpreting, presenting and overseel factors are globalisation, advances in information and production technologies, and increasing competition. On the other hand, internal factors are emphasis on core competences, customer and supplier relationship, downsizing, outsourcing and flatter organisational structures and team work. (Forsaith, Tilt and Xydias-Lobo, 2004). This essay will particularly focus on the most influential factors, advances in information and production technologies and competition.1) Advances in information and production technologiesWith the development of technology, management accountants can gather data, perform analyses, and report information in real time by computerised accounting system (Kerby & Romine n.d.). Also the availability of user-friendly analytical and financial computer tools provided by the computerised accounting system enables management accountants to use many routine accounting functions, such as bookkeeping and preparation of financial statement, timely and more accurately. As d competition comprised of appearance of global markets, the importance on customer relationships and competitors’ improved quality of products and services (Forsaith et al, 2004). As a result of increased competition among organisations, they put more emphasis on quality of products and services and its productivity (Kerby & Romine n.d.). To achieve these priorities, re-engineering of the organisation, especially downsizing and cost management, has been adopted. When downsizing was considered, finance department was usually the first process since computerised accounting systems can out-perform the management accountants in terms of speed, accuracy and the quantity of data (Dempsey el al, 2006; Kerby & Romine n.d.). Those accountants sacked in the process of downsizing would be unable or unwilling to switch their focus from historical-based data-gathering activities to future-oriented, decision-focused activities (Dempsey et al, 2006).Also cost management, which is another cause of condents (63.4%) chose reporting and information provision as the most important function, followed by strategy, decision making, forecasting and planning (9.3%) and budgeting and costing (6.8%). On the contrary of future function of management accounting, decision making, forecasting and planning (36%) was the first, followed by reporting and information provision (32.3%) and performance measurement (4.3%) (Forsaith et al, 2004, p. 15).Also according to the research conducted by the Institute of Management Accountants (IMA) strengthened the research of Forsaith that management accountants are more likely to work on “cross functional teams”, spend more time on “business analysts or internal consultants”, be “actively involved in decision-making” and ‘work closely with their customers’ to offer the proper information and help use the information for better decision-making compared to the past (Russel, Siegel & Kulesza, 1999, p. 40).Furthermore, several researches on the term ‘change’ werefication, especially to the exclusion of other matters”. The term ‘bean-counters’ was used with specific reference to the conventional roles of management accountants since the main job of traditional management accountants was cost accounting which emphasises on product costing, and the control of direct labour, direct materials and manufacturing overhead. The triggers of changes in management accounting can be divided into both external and internal factors and this essay particularly discussed the most influential factors, advances in information and production technology, and competition that required management accountants to adopt new tools and techniques with understanding the organisation’s strategy and entire production or service delivery system. Lastly, Fleming (2005) stated that management accountants has never looked brighter, but the management accountants should develop an entire and in-dept understanding of the organisation, apply analytical skills to the finding of tre9)

경영/경제| 2009.06.22| 7페이지| 5,000원| 조회(242)

관리, 관리 회계, management accountin

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distinct characteristics of strategy-making process whether it is a rational linear process or innovative strategies are the result of lucky foresight

IntroductionAccording to the Question 2: Strategy, there are two quotations each indicating distinct characteristics of strategy-making process whether it is a rational linear process or innovative strategies are the result of lucky foresight. This essay will focus on what characteristics of each process are, weaknesses of each model, a combination of the two models and two relevant cases.What is a rational linear process?A rational linear process is known as a planned or deliberate strategy. Key characteristics of planned strategy are “rational control, the systematic analysis of competitors and markets, of company strengths and weaknesses, the combination of these analyses producing clear, explicit, full-blown strategies” (Mintzberg, 1987, p.66). Also it is based on the economics of the business, thus it embodies the organisation’s competitive position in the industry and the traits of the industry in which the firm is being operated in (Suutari, 1999). In other words, it is likely fer demands, has an important role when formulating the strategy (ibid.). Crafting strategy is from the same stem of organisational based strategy. Mintzberg stressed strategic-making decisions as a procedure to craft a strategy. He represented strategic-making decisions metaphorically as a craftsman manufactures a pot with a lump of clay and more specifically, managers (craftsman) establish strategies (clay) with consideration of a past of corporate capabilities and a future of market opportunities (Mintzberg, 1987). Therefore, a fluid process of learning is combined by formulation and implementation through which creative strategies develop. Overall, the theory of Hamel, and Suutral and Mintzberg are consistent that strategic decisions should be altered when needed through a liquid procedure of learning.Disadvantages of each approachAs referred to the above, though each distinct view of strategic-making decision shows strengths, but inevitable weaknesses are exposed.The process of platern was not externally intended’ (Robertson, 2008). As Suutari’s suggestion, Mintzberg’s emergent strategy focuses on balanced position between planned and organisational based strategy. He presented two strategies for concrete examples. The first model, called the umbrella strategy, sets out broad guidelines and leaves the specifics to others lower down in the organisation (Mintzberg, 1987). It is considered that this model is both deliberate and emergent. Except this feature, deliberately emergent is another trait at the same time in that it is allowed for the process to be deliberately managed for permitting strategies to emerge en route (ibid.). Another prevalent model is the process strategy where management controls the process of strategy formation. The strategy concerns itself with the design of the procedures, structure and its staffing while leaving the actual content to others (ibid.). These two strategies could obtain the maximised result when their implementers are alloweorganisations that they plan and achieve their strategies in accordance with the approach of complementing the two strategies. Among the organisations, two examples will be examined.The first example of an organisation for a study case is Nike, the world’s biggest sportswear manufacturer. The mission statement of Nike is “to bring inspiration and innovation to every athlete in the world” and the mission statement has been expanded with 11 maxims (Figure 1) that every employee can use to guide the decisions they make (Payne, 2008, p.53).1.“It is our nature to innovate.”2.“Nike is a company.”3.“Nike is a brand.”4.“Simplify and go.”5.“The consumer decides.”6.“Be a scope.”7.“Evolve immediately.”8.“Do the right thing.”9.“Master the fundamentals.”10.“We are on the offence – always.”11.“Remember the Man.”(Payne, 2008, p55)Organisational culture, such as the corporate mission and the retelling of key events from the organisation’s history, is one of the prime sources of emergent strategy. An ade variety of strategic communities inside and outside the corporation shaped knowledge and competence of community and then it created novel knowledge and competences of community (ibid.).Managers of NTT DoCoMo, especially in top and middle management, entirely mobilised the better-quality capacities and knowledge that are unequally dispensed in and out of the organisation (ibid.). Furthermore, the resonance of values within the strategic community based on the concepts and ideas of constructing an ‘interactive learning-based strategic community’ was promoted at the same period (Kodama, 2004).For NTT DoCoMo to gain advantages of its integrative ability and realise innovation, dialectical management was utilised by top management of the organisation, including community leaders, to shape a platform of resonating values and recurrently generate knowledge (ibid).Finally, with reference to leadership and organisational development, the key issue that NTT DoCoMo faced was how a large numbe.

경영/경제| 2009.06.22| 10페이지| 5,000원| 조회(247)

관리 회계, management accountin, linear proces..

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재벌의 IMF 당시 한국 경제에 대한 악영향

IntroductionDuring the Korean War (1950-53) Korea peninsular had been completely devastated and lost most infrastructures and Korea, as a result, became one of the poorest countries in the world. Korea had all the bad characteristic of a typical country; small land with high population density, small domestic markets and no natural resources. However, despite the desperate internal conditions, Korean economy had become very successful with high GNP ratio around eight to ten per cent every year from 1970 to 1990 (Cha et al, 1997, 11). This remarkable economic success could be achieved by the government-led policies, which especially had been designed for supporting a small number of very large firms, conglomerates or chaebols in Korean (Kim, 2001, 6). Therefore, Korean chaebols had been prospered well with support of government and they could be attributable to the extraordinary economic growth before 1990. However, the Korean chaebols had been serious threats in Korean economy simultan result, this led to an underdeveloped banking system and ethical or ‘moral hazard’ problem between chaebols and financial instruments were raised (ibid.).Secondly, chaebols often ignored if they could pay back the loan or if they could get a higher return from the investments than the interest rates on the loan, since they could obtain another loan if necessary. Chaebols had ‘too big to fail’ mentality. If they were likely to be bankrupt, they knew the government would not let that happen. Consequently, reckless expansion and acquisition were often appeared (Tcha et al, 2003, 5).Thirdly, Korean firms preferred debt financing to equity financing due to the guaranteed loans from the government. As shown in table 1.1, Korean firms had much higher debt to equity ratio than firms in U.S. and Japan. According to the characteristics of debt financing, the firm has to pay the liability in a limited period, the higher ratio was too much burden on the Korean firms (Tcha et al, 2003, 6).Table1.1 domestic rates without considering the possibility of a run on the banks or the exposure to foreign exchange rate fluctuations. As indicated in table 1.2, net foreign liability in Korea dramatically increased from 1995 to 1997. By June 1997, the ratio of short-term debt to foreign reserves exceeded 400 per cent, indicating that national insolvency would be faced if around 25 per cent of its short-term debt was asked to repay at once (Tcha et al, 2003, 10).Table1.2 Net foreign liability in Korea199519961997N.F.L.$108.8B$138B$170.5BSource: Bank of Korea, financial statement analysis.Viewpoint from macroeconomics on Korean economy.It seemed Korean economy to have strong macroeconomic fundamentals, higher growth rates per year, single digit inflation rate, small government’s fiscal deficit and higher saving rate. However, some other economic fundamentals, especially trade deficit and current account deficit, were very weak. In 1995, the trade deficit was only 2.2% of GDP, but it increasedtrong won policy in 1990s for several reasons; they wanted low inflation rates and to keep the exchange rate stable to help domestic firms and financial instruments by lowering the domestic currency costs of servicing foreign debts denominated in the US dollars. Also the government pushed Korean firms to strive to increase their productivity and hence international competitiveness. Last reason was political consideration. In 1995, Young-Sam Kim government reached US$10,000 income per capita. Once it reached $10,000, they did not want it to slide with the depreciation of the domestic currency (Tcha et al, 2003, 62).The other factors, extended recession in Japan which decreased the demand for exports from Korea, increased competition in manufacturing and textiles’ exports from China, severe decline in the demand for semiconductors and tight monetary policy from US and Japan in the middle of 1995 had further weakened Korean chaebols’ international competitiveness and they could not be sucoil became worse by taking measures counter to market principles such as the Bankruptcy Prevention Accord and state subsidies for insolvent chaebols. Especially, Korean government’s decision to convert Kia Motors, the 8th insolvent largest chaebol, into a public firm resulted in the confusion and distrust toward the government among the foreign investors (Tcha et al, 2003, 64).ConclusionIt is undeniable that Korean chaebols were the major engine for the economic growth before crisis with the very close relationship with the government. However, Korean economy became larger and more complex and the global competition became harsh, thus the government-led economic policies did not work well as before. Also the macroeconomic fundamentals in Korea and overseas were not favourable to chaebols and, moreover, the government improper policies regarding insolvent chaebols caused confusion and distrust toward the government. Therefore, within this circumstance, Korean government became insolventzo.

인문/어학| 2009.06.22| 4페이지| 5,000원| 조회(215)

경제학, IMF, 재벌, 한국학, 영향

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[영어원서]월마트의 사회에 대한 긍정, 부정적 기여도와 정부와의 관계

Strategy and expansion of Wal-MartFirst strategy starts from a very basic principle that consumers seek good quality products with lower prices. Secondly, Wal-Mart has grasped the point that consumers’ inclination such as available RoHS (Restriction on Hazardous Substance) compliant products.As U.S. economy has developed, manufacturing costs has raised either. Therefore, Wal-Mart has imported goods from developing countries such as China and also purchased retail operations of Brazil and Japan.Three major criticism on Wal-MartAccording to the Article 10 of China’s Trade Union Law, it is clearly recorded that a union “shall be set up” in any firm with twenty-five or more workers. However, Wal-Mart has not allowed Chinese workers to unionise and it might be possible because of Chinese government’s umbrella seeking for foreign investment (Goldstein, 2003). Therefore, without the presence of labour union, Chinese labours can not seek their right authority such as suitable wage standard sys to keep prices down and this was a serious threaten to the vendors, because Wal-Mart could simply have a contract with another vendor or import from developing countries when the vendors can not meet the requirements of Wal-Mart (Fishman, 2003). As a result, this caused a number of U.S. manufacturing firms to be closed down or subordinated. Currently 80% of suppliers are Chinese and Wal-Mart imported 10% of total imported goods from China to U.S. (ibid.).Responses in favour of Wal-Mart’s defenseWal-Mart argues that it has been assured by the Chinese central government that it is not required to allow unionising (Goldstein, 2003). Also the function of All-China Federation of Trade Unions (ACFTU), which has been corrupt between businesses and central government, has not performed well. For instance, according to Han Dongfang, a labour activist, the way the ACFTU operates is not really beneficial for its unions (ibid.).Wal-Mart contributes positive effects on communities. Wal-Mart providnd half of the 1990s (ibid.). Also Wal-Mart argues that Wal-Mart and local suppliers are both in “win-win situation”. This enables the suppliers to grow and encourages selling “made in USA” goods.Relationship between the concepts covered in the course and the issuesBusiness’s role is important in regard to relation to society and government. The first objective of business is to make profits, but Wal-Mart has responsibility on its society, since consumers determine existence of business. Wal-Mart, as a powerful business, can affect wealth of society, thus businesses are required to implement its obligation not to be pressured by society (Ryan et al, 2003). For example, it is requested for business to pay suitable incomes to the society and also to pay back what is used for profit-making to the society.In the relationship between government and society, governments usually control in favour of society such as minimum wage (Ryan et al, 2003). However this theory is not applicable to the rk hard.A number of side effects are occurred with the presence of Wal-Mart, known as ‘market failure’ where prices do not account for marginal social costs and benefits. Firms in U.S. economy, also known as liberal market economics (LME), focus on shorter term profit maximisation because the firms usually raise funds on liquid financial market rather than on banks and short term profit is the important factor for stockholders and bond owners. This causes Wal-Mart mainly to focus on short term profit and the side effects are not considered. Therefore, government’s role, such as command and control, is needed in this circumstance. For instance government may set up a legal protection for local officials against threatens or impose taxes on Wal-Mart for traffic problem and an increment in crime possibility. However, it might result in inefficiency in the economy and limitation of the investment growth (Weidenbaum, M. (2004).Also social (civic) groups, who establishes formal, legal and inment (MAI) when globalisation has been accelerated (Wade, 1996). Though Wal-Mart has had a positive role in the development of U.S. economy, also it has created problems, such as conflicts between Wal-Mart and local vendors and trade deficit (Fishman, 2003). In other words, injustices or inequality can be brought by business, which decreases the standard of living. As a result, to cope with ‘market failure’ economic regulation is required. In particular, legal acts may be established to protect U.S. domestic manufacturers or restrict the amount of imports from overseas. However, costs of this regulation, decrement in international competitiveness or inefficiency in Wal-Mart, may be arisen (Weidenbaum, M. (2004)..ReferencesFishman, C., The Wal-Mart You Don’t Know. Retrieved December 2003, from HYPERLINK "http://www.fastcompany.com/magazine/77/walmart.html" http://www.fastcompany.com/magazine/77/walmart.htmlGoldstein, C., Wal-Mart in China. Retrieved December 8, 2003, from HYPERLINK "htt-29

경영/경제| 2007.05.23| 4페이지| 3,000원| 조회(403)

사회, 정부, 경제, 경영, 월마트

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[인문어학][영작에세이][영어원서]국가와 시장관계및 그의 노사관계

IntroductionIn the varieties of capitalism approach to the political economy, the economies of developed countries are categorised as liberal market economies (“LMEs”) or coordinated market economies (“CMEs”) based on the following five areas in which firms must develop relationships to coordinate their endeavours: industrial relations, vocational training and education, corporate governance, inter-firm relations and employees of firms. This essay will consider whether LMEs or CMEs are “better” at addressing issues that arise in business-labour relations which requires analysis of a key element of business-labour relations, the cooperation between employers and employees, which is primarily achieved through bargaining for wages/work conditions. Therefore this essay will consider whether the approaches of firms in LMEs or CMEs are superior at securing the cooperation of employees using the US and Germany as examples.Characteristics and Strategies of LMEsIn LMEs, firms rely heavily on maing by the employer are aimed at blocking out the external labour market. The application of such strategies opposes coordinated bargaining and where attempts at cooperation with labour are made, an adversarial approach against unions is taken.In the US, cooperation between labour and employers at the plant level relies on collateral institutions. In the absence of institutions such as employer coordination and long term financing, employers in LMEs will have little option but to pursue a strategy of employer unilateralism – as evidenced by the tendency of employers to shed employees during a market downturns.Characteristics and Strategies of CMEsIn CMEs firms place emphasis on non-market relationships when coordinating their activities. Characteristics that are common to firms of CMEs are:Reliance on collaborative relationships of firms which results in less emphasis being placed on formal contracts between parties;More efficient responses to regulations that is a result of structured which is often the case in LMEs) which are not committed to single firms and this effectively reduces the pressure to provide short term financial gains. Thus firms of CMEs will focus on coordinating their endeavours for the long run.Strategies of LMEs and CMEs ComparedThe trend for CMEs appears to be the pursuit of labour market flexibility through controlled decentralisation while maintaining a commitment to coordinated bargaining (e.g. Sweden and Germany). Conversely, LMEs appear to be pursuing increasing deregulation (e.g. the US and Britain). This indicates each model of political economy has built on the strengths of its institutions. Despite the divergence between LMEs and CMEs, the political economies of both models have shown a preference for a single united bargaining partner at the plant level to ensure the cooperation of their workers (thereby improving the productivity/efficiency of the firm).The main advantage of collective bargaining for employers is the peace and stabithat it is a superior strategy in promoting labour market stability and improving cooperation between employers and their workers. To this extent CMEs may be said to be better at addressing issues in business-labour relations as it is able to effectively implement a strategy which more fairly serves the interests of both employers (increased stability in business-labour relations and enhance worker cooperation) and employees (higher wages and improved working conditions).A further feature of the German industrial relations system is its works councils composed of elected employees with authority over the shedding of labour and work conditions thereby providing employees job security. This feature is supported by the right to appeal decisions to unions and employers’ association. Moreover, emphasis on long-term competitiveness of firms rather than the demands of the labour market in the short run allows job security to be offered as an incentive for employee commitment. Job security is as increased the vulnerability of individual firms to industrial action and complicated coordination within employers’ associations’ responses to collective bargaining. As globalisation has increased the cost of strikes, many employers now prioritise the maintenance of labour peace (as their production strategies have left them more vulnerable to strikes) which effectively divides them from firms which face increased wage competition from foreign markets and therefore would rather proceed to a lockout as they cannot afford the cost of higher collective bargaining by meeting workers’ demands.In Germany’s case the stability and peace in business-labour relations may be in jeopardy as some firms are reaching their threshold to remain profitable in light of the costs of collective contracts that are largely suited to strong firms that wish to avoid the costs of industrial action - weaker firms are forced to pay higher wages agreed to by stronger firms while the capacity to pay increased wans.

경영/경제| 2007.05.23| 8페이지| 3,000원| 조회(296)

노사관계, 정부, 산업관계, 시장관계

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