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The Integration Between Academic Research and Practices: My Experience Anne Wu National Chengchi University March 25, 2014 1.

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Presentation on theme: "The Integration Between Academic Research and Practices: My Experience Anne Wu National Chengchi University March 25, 2014 1."— Presentation transcript:

1 The Integration Between Academic Research and Practices: My Experience Anne Wu National Chengchi University March 25, 2014 1

2 Presentation Outline I.The Value Chain of Academic Research, Teaching, and Practices II.The Blueprint of Managerial Accounting Research--My Experience III.The Academic Value Chain of Integrative Strategic Value Management System (ISVMS) IV.Field Empirical Research: Balanced Scorecard and Compensation Management as an Examples V.Field Empirical Research: ABC as an Example VI.Conclusions VII.Q&A 2

3 I.The Value Chain of Academic Research, Teaching, and Practices 3

4 The Blueprint of Future Research The First Stage: Master Thesis Testing The Third Stage: Multiple-Period NSC Projects The Second Stage: Ph D. Dissertation Testing Research Results International Journals International Conferences Academic Research: Managerial Accounting Practices: Implementation EMBA Students: Practical Implementation Models Teaching: Managerial Accounting Figure 1: The Value Chain of Academic Research, Teaching, and Practices 4

5 II.The Blueprint of Managerial Accounting Research--My Experience 5

6 6 Figure 2: The Blueprint of Managerial Accounting Research (The Integrative Stage): Integrative Strategic Value Management System (including 5 sub-systems) 2.Strategy Implementation System 3.Fundamental System: Activity- Oriented Value Chain R&DDesignProductionMarketing and Distribution Customer Services Activity Management and Analysis Strategic Value Management Information Strategic Value Management Techniques 4.Strategic Value Management System Process Analysis Financial Perspective Customer Perspective Learning and Growth Perspective Internal Process Perspective Balanced Scorecard Strategy 1.Strategy System Firm Vision and Goals SWOT Scorecard Strategic Intellectual Capital: 5.Strategy Value Creation System Customer Capital Process Innovation Capital Human, IT and Organizational Capital Patent: 2010 IT system: 2007 IT system: 2014

7 7 III.The Academic Value Chain of Integrative Strategic Value Management System(ISVMS) (Trademark: Taiwan, China, and U.S.A)

8 Figure 3: The Academic Value Chain of Integrative Strategic Value Management System Integrative Strategic Value Management System (Brand) 3. Case Study: Harvard and Ivey Teaching Cases 2. Field Study: Practical Papers 1. Field Empirical Study: Academic Research 8 4. IT System for Implementation Product 1 Product 2 Product 3 Product 4 5. Books Product 5

9 9 Figure 4: The Integration of Academic Research, Practices, and Teaching: Case Focus Academic Research Practices Finding “Research Issues” Strengthening “Research Method” Asian Cases Teaching

10 10 Figure 5: The Framework of Multi-Purpose Case-Focused Research 2. Doing Field Empirical Research 1. Doing Case and Field Research 3. Establishing Research Database 4. Developing Empirical Research Hypotheses 5. Finding Research Issues 6. Conducting Industrial Analyses and Sharing Knowledge 8. Enhancing International Academic and Industrial Cooperation 7. Doing Industry Analyses Case Platform 9. Helping Industrial Policy Making 10. Doing Case Teaching

11 Figure 6: The Life Time Planning of Academic Career ABCBSCICISVMS Others Banking Electronic Managerial Accounting Techniques Industries Case, Field, or Field Empirical Studies 11

12 12 Case, Field, Field Empirical Studies Unique Phenomenon & Story Unique Institutional or Governance Features Large Scale Empirical Studies Figure 7: Doing Managerial Accounting Research in Asian Countries Key issues What are the theoretical foundations?

13 VI.Field Empirical Research: Balanced Scorecard and Compensation Management as an Examples 13

14 14 BSC Strategy Theme (ST) Strategy Goal (SG) ST SGST SG Strategy Theme (ST) Strategy Goal (SG) ST SGST SG Financial Perspective (FP) Customer Perspective (CP) Internal Process Perspective (IPP) Growth and Learning Perspective (GLP) Organizational Performance Strategy Theme (ST) Strategy Goal (SG) Strategy Measurement (SM) SM SG ST Organization Vision & Goal Figure 8: The Formation of BSC Research Framework Non-Profit Organization Strategy Profit Organization Information Usefulness Theoretical Development G. Mitsubishi Motors: Teaching Case (TMCC) (Product 3) J. BSC: IT System (Product 4) I. 3L Electronic Corp: Teaching Case (Ivey) (Product 3) H. Kuang Chuan: Teaching Case (TMCC) (Product 3) K. Book (Product 5)

15 15 Strategy BSC FP SM CP IPP GLP SM Financial Measurement Non- Financial Measurement Performance Evaluation Rewarding Common Measurement Firm Market Value Users: Managers and Employees Figure 9: The Formation of BSC, Performance Evaluation, and Rewarding Research Framework B. Ho, Wu and Wu Paper (Product 1) E. Kelly: Teaching Case (TMCC) (Product 3) A. Ho, Lee and Wu Paper (Product 1) F. Fortune Motors: Teaching Case (Ivey) (Product 3) C. Chang, Kuo and Wu Paper (Product 2) D. Chang, Kuo and Wu Paper (Product 2)

16 A: Product 1 How Changes in Compensation Plans Affect Employee Performance, Recruitment and Retention and Firm Performance-An Empirical Study of A Car Dealership Joanna Ho University of California, U.S.A Ling-Chu Lee National Pingtung Institute of Commerce, Taiwan Anne Wu National Chengchi University, Taiwan (Contemporary Accounting Research, 2009) 16

17 17 The Taiwanese Labor Law  Objective: protect workers’ interests and rights.  Requirement: base salary.  Deadline: Dec. 31th, 1998. July 1st, 1998 Commission- Based Scheme Base Salary + Commission Scheme Improvement of Low performance Plan Before ChangeAfter Change I.Practice: Labor Law Changes

18 18 The largest car dealership in Taiwan. 18 percent of the market share over the past five years. Changed the compensation scheme in July 1998. II.Practice: Research Site

19 19 The possible impact of a switch to a less performance-sensitive incentive scheme on individual productivity and on company performance. How the plan change affects overall employee retention and recruiting. III.Research Issues: From Practice

20 20 Data covered by the 56-month period from January 1996 to April 2001.  Individual Level --97,541 person-months of data.  Branch Level --5,121 branch-months of data. IV.Practice: Data

21 21 Average compensation per salesman AfterBefore V.Research: Research Results

22 22 A switch to a less performance-sensitive compensation scheme hurts employees individual sales productivity. The research results make implications to teaching and practices. The study suggested the company to handle the side effect of compensation change. The company took our suggestion to change the compensation system from individual-based to team- based and high performance-sensitive schemes. VI.The Implications of the Research Results to Practices

23 Performance Measures, Consensus on Strategy Implementation, and Performance: Evidence from the Operational-level of Organizations Joanna Ho University of California, U.S.A Anne Wu National Chengchi University, Taiwan Steve Wu The University of Hong Kong, Hong Kong 23 (Accounting, Organizations and Society, 2014) B: Product 1

24 24 A Taiwanese financial service company currently have 49 branches serving 530,000 customers. The company stresses high quality service and high customer satisfaction as its strategy. Sales people’s formula bonus is mainly based on their annual revenue generation. Yet, the branch manager has discretion to adjust bonus or decide promotion candidates based on non- financial and/or subjective measures. I.Practice: Research Site

25 25 Strategy Strategic Implementation 1.Organizational Level (1)CEO (2)Branches (3)Departments (4)Employees (5)Customers 2. Six Drivers (1)Reasonable price (2)Professional services (3)Profitable investment advice (4)Friendly service attitude (5)Complete product line (6)Convenient location II.Practice: SPMS Implementation

26 26 III.Research Issues: From Practice How does strategic consensus at the operational level influence strategic performance in employees’ performance evaluation? How does strategic consensus influence the incentive effect of strategic measures on strategic performance?

27 27 The study worked with the top management team, including the CEO, CFO, CIO, Chief Strategy Officer, and VP-Sales to conduct a large-scale customer satisfaction survey of approximately 7,000 customers. The study interviewed the top managers to understand the customer-oriented strategy and six customer value drivers for the company. The study then developed the survey questions in accordance with the interview information. The study formed survey sample, each branch contacted at least 10 of its top 50 customers and randomly chose frequent customers. The study sample consists of responses from 1,395 customers, 395 salespeople and 40 branch managers. IV.Practice: Data

28 28 Strategic consensus at lower level managers/employees has significant impact on the implementation of strategy and the performance of an organization. The important insights to practitioners who are using the Balanced Scorecard or other SPMSs. The study suggests the company to improve the SPMSs only consider controllable factors but not uncontrollable factors (such as location, and price). V.The Implication of the Research Results to Practices

29 C: Product2 Strategy Alignment and Performance Evaluation for Shared Service Centers: A Longitudinal Study on the Role of Balanced Scorecard. Janie Chang San Diego State University, U.S.A Tsuilin Kuo Fu-Jen Catholic University, Taiwan Anne Wu National Chengchi University, Taiwan (Working Paper) 29

30 This study aims to explore how an organization could make existing SSCs more successful in serving both internal and external customers. We investigate two issues:  Whether using BSC can assist the employees of SSCs to better understand and achieve the strategies of other operating units and those of the headquarters (i.e. serving internal customers)?  Whether using BSC can better measure the performance of SSCs and reveal the value of SSCs (when serving both internal and external customers)? 30 I.Research Issues: From Practice

31 The implementation of the BSC is a lengthy process, especially for SSCs. This study provides illustrations of the implementation and impact of BSC on SSCs from 2002 until 2011. The findings of this study strongly support the notion that using BSC will align strategies. Most employees in SSCs can sense the effects and changes BSC brings to them, especially in the areas of understanding towards organization’s strategies, making contributions to the organization, and providing high value service to business units. Although adopting a scorecard system can help SSCs to transform into a strategic unit and facilitate SSCs to create benefits, SSC employees are not in agreement with the developed measurement for performance. 31 II.The Implication of the Research Results to Practices

32 D: Product 2 The Successes in Long-Term Implementation of Balanced Scorecard: A Healthcare Organization Study Wen-Cheng Chang Taiwan Buddhist Tzu Chi Foundation, Taiwan Tsuilin Kuo Fu-Jen Catholic University, Taiwan Anne Wu National Chengchi University, Taiwan (Working Paper) 32

33 33 This study examines the question of how to reflect the successive phases in the evolution of BSC implementation. This study illustrations on how a healthcare organization can successfully undertake BSC scorecard development and implementation process. The case has three phases in implementing the BSC from 2001 to 2008 which are: planning and designing stage, weighting and evaluation stage, and alignment stge. I.Research Issues: From Practice

34 34 We illustrate how to overcome key challenges faced by the healthcare organization and how to maximize chances of achieving longitudinal success from BSC. This study elaborates of monitoring and guiding organizational success toward a long-term realization of the BSC, while exploring managerial guidance for similar implementations. We suggest that the BSC framework be designed to help organizations to constantly examine themselves and improve for continuing success in the long-run. II.The Implication of the Research Results to Practices

35 35 Teaching Case : Kelly (TMCC) The issues of teaching case ( 恆光企業 ) Strategy BSC Compensation Plan (Rewarding) (Rewarding) Kelly Employees : Salesperson To fill a void in the existing teaching case of Balanced Scorecard (BSC) Figure 10 : The Framework of Teaching Case E: Product 3

36  36 New Innovation Strategy BSC Figure 11 : The Framework of Teaching Case Teaching Case : Fortune Motors (Ivey) Using Balanced Scorecard to implement new innovation strategy. F: Product 3

37 37 Teaching Case : Mitsubishi Motors (TMCC) BSC: SSU 6 Steps: 1.The matching for demand and supply. 2.Service agreement. 3.SSU BSC. 4.The transfer pricing for SBU and SSU. 5.Income statement for SSU. 6.The feedback from SBU to SSU in the end of the year. SBU G: Product 3

38 38 Teaching Case : Kuang Chuan (TMCC) The issues of teaching case  The reasons of the implement Balanced Scorecard.  The processes of the implement Balanced Scorecard.  The problems of the implement Balanced Scorecard. H: Product 3

39 39 Teaching Case : 3L Electronic Corp (Ivey) Strategy BSC Strategic Reward System Figure 12 : The Framework of Teaching Case E: Product 3 The strategic reward system has been an integral part of the implementation of scorecards, and why it has not been influencing the behavior of people at 3L.

40 40 BSC : IT System J: Product 4 (Cooperation with Data Systems Company)

41 41 BSC Book K: Product 5 (Working Process)

42 42 V.Field Empirical Research: ABC as an Example

43 43 Government Regulation Environmental Factors ABC CustomersShareholders Figure 13: The Formation of ABC & ABM Research Framework Resources Cost Object: Product, and Customers Cost Activities Drivers Resources Drivers Activity or Activity Center Cost Drivers Strategic Decision Makings Operational Decision Makings Management Uses Users ABC Information ABM Manufacturing Efficiency Success or Failure (11) (7) (1) (2) (13) (10) (12) (6) (9) (3 ) (5) (4) (8) L. Eldenburg, Soderstrom, Willis and Wu Paper (Product 1) P. O'Connor, Wu and Anderson (Product 1) N. Gupta, Randall and Wu Paper (Product 1) M. Yu and Wu Paper (Product 1) O. O'Connor, Kacobs and Wu (Product 1) Q. HTC: Teaching Case (ACRC) (Product 3) R. PQI: Teaching Case (ACRC) (Product 3) S. ABC: IT System (Product 4) T. Book (Product 5)

44 44 Behavioral Changes Following the Collaborative Development of an Accounting Information System Leslie Eldenburg University of Arizona, U.S.A Naomi Soderstrom University of Colorado at Boulder, U.S.A Veronda Willis University of Colorado at Boulder, U.S.A Anne Wu National Chengchi University, Taiwan (Accounting, Organizations and Society, 2010) L: Product 1

45 45 The largest hospitals in Taiwan provide monthly department-level income statements or cost reports (primarily for cost centers) to department heads. The hospital provides salaries for its physicians, with bonuses based on total charges incurred by their patients. That works well under a cost based system, but is not efficient under a flat-fee per diagnosis system. Physicians could increase their bonuses by increasing the treatment provided, thus increasing gross charges per patient, but at some point, the hospital would begin to lose money as physicians over-used resources. I.Practice: Research Site

46 46 ABCM Before Implementation After Implementation Comparing the Before and After ABCM Implementation II.Practice: ABC Implementation Figure 14 : The Comparing Before and After ABCM Implementation

47 47 Physicians’ Behavior Organizational Performance The Impact After Implementing ABCM Impact II.Practice: ABC Implementation Figure 15 : The Impact Before and After ABCM Implementation

48 48 Whether non-accountant participation in the development of the information system influences the participants’ resource allocation decisions after system implementation. Accounting information (such as ABC) tends to be ignored by decision makers as non-accountant allocate resources. III.Research Issues: From Practice

49 49 Sample selection  One of the largest hospitals in Taiwan which implemented ABC in the Ophthalmology department in January 2001.  Patient-level data for inpatients and outpatients being treated for cataracts from July 1, 2000 to August 30, 2001.  Include information on severity of illness, gender, age, procedures employed, disease codes, charges, and hospital reimbursement. Patient Charges and Use of Resources  For patient billing, hospital accountants assign a specific charge for each resource used by individual patients based on guidelines provided by the Federal government.  Charges increase as the use of resources increase. Hence, we use hospital charges as a proxy for resources used. IV.Practice: Data

50 50 After implementation of ABC, physicians reduce resource utilization for inpatients and perform more procedures on an outpatient basis. It has improved financial performance after implementation through both increased revenues and decreased costs. We provide the evidence that participation in developing an ABC information system results in post- implementation improvement in resource utilization. The hospital takes the research results as the direction for implementing ABC in different departments. V.The Implication of the Research Results to Practices

51 51 The Benefits of ABC Implementation in a Complex Manufacturing Environment: A Field Study Sui-Hua Yu National Chung Hsing University, Taiwan Anne Wu National Chengchi University, Taiwan (Working Paper) M: Product 1

52 52 N: Product 1 The Economic Impact of Congestion and Capacity Utilization: An Empirical Examination Mahendra Gupta Washington University, U.S.A Taylor Randall University of Utah, U.S.A Anne Wu National Chengchi University, Taiwan (Working Paper)

53 53 O: Product 1 Resource-based Sources of Bargaining Power and Management Control Concerns in Inter-firm Relationships: An Exploratory Study of Technology Firms Neale G. O’Connor National University of Singapore, Singapore Kerry Jacobs UNSW Canberra, Australia Anne Wu National Chengchi University, Taiwan (Working Paper)

54 54 P: Product 1 Relative Performance Evaluation in Supply Chain Management Neale G. O’Connor National University of Singapore, Singapore Anne Wu National Chengchi University, Taiwan Shannon W. Anderson University of California, U.S.A (Working Paper)

55 55 Q: Product 3 Strategic Performance Measurement of Suppliers at HTC Neale G. O’Connor National University of Singapore, Singapore Anne Wu National Chengchi University, Taiwan Shannon W. Anderson University of California, U.S.A Yu Chen The Hong Kong University, Hong Kong (Teaching Case, Asia Case Research Centre )

56 56 R: Product 3 PQI: Management of Suppliers Neale G. O’Connor National University of Singapore, Singapore Anne Wu National Chengchi University, Taiwan Shannon W. Anderson University of California, U.S.A Grace Loo The Hong Kong University, Hong Kong (Teaching Case, Asia Case Research Centre )

57 57 S: Product 4 ABC: IT System 1.Resource Module 2.Activity Center Module 3.Activity Module 4.Value Object Module 4 Modules (Cooperation with InfoFab company, Dec. 2014 finished)

58 58 ABC Book T: Product 5 (Working Process)

59 59 VI.Conclusions

60 60 A Good Field Case Managerial Accounting Techniques Implementation Managerial Accounting Research How to Find a Good Field Case to Integrate MA Practice and Research Figure 16: A Good Field Case is the Key Role for Managerial Accounting Research & Practice Deep Integration

61 61 Practice: Research Issues Research: Research Hypotheses Research Methods: 1.Practice: Data 2.The Integration Between Practice and Research: Variable Measurement 3.Research: Data Analyses Figure 17: The Integration between Practices and Research Finding Developing Analyzing Research: Research Results Feedback Practice: Cases Feedback

62 62 1.Research issue is the first and significant stage of the research. The relevant issues of research are always come from practices. 2.The integration among practices, research issues, theoretical foundation, and research methods. 3.Research is life time planning task. 4.Research is a continuous improvement job. 5.A researcher is like a director of a movie to direct the whole film and to create the highest value for the movie. 6.The highest value of the research is to create “global “ contributions to the academic and practitioner societies.

63 VII.Q&A 63

64 Thank you very much!! 64


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