bluuebunny/crossref_metadata_2025_split huggingface dataset:
Internal auditors' perception about their role in risk management
Authors: Sarens Gerrit , De Beelde Ignace 
Published: January 2007

PurposeThe purpose of this paper is to describe and compare in a qualitative way how internal auditors perceive their current role in risk management within US and Belgian companies.Design/methodology/approachIn order to get adequate data, Chief audit executives from 10 different companies were interviewed and relevant documents were analyzed.FindingsIn the Belgian cases, internal auditors' focus on acute shortcomings in the risk management system creates opportunities to demonstrate their value. Internal auditors are playing a pioneering role in the creation of a higher level of risk and control awareness and a more formalized risk management system. In the US cases, internal auditors' objective evaluations and opinions are a valuable input for the new internal control review and disclosure requirements mentioned in the Sarbanes Oxley Act.Research limitations/implicationsGiven the qualitative nature of this study, generalization to all Belgian and US companies is not possible. The time specific character of the subject is an opportunity for future longitudinal research.Practical implicationsIn Belgium, the internal auditing profession is actually in a kind of “transition phase”. In order to survive this transition phase, internal auditors need to assume a “teaching role” vis‐à‐vis the different management levels to make them aware of their responsibilities in risk management. After this transition period, internal auditors will be able to focus more on their core activities.Originality/valueIn addition to a number of quantitative studies, this paper extends in a qualitative and comparative way the understanding of the specific role of internal auditors in risk management within US and Belgian companies.
The use of internal audit by Australian companies
Authors: Goodwin‐Stewart Jenny , Kent Pamela 
Published: January 2007

PurposeThe purpose of this study is to explore the voluntary use of internal audit by Australian publicly listed companies and to identify factors that lead listed companies to have an internal audit function.Design/methodology/approachDrawing on the Institute of Internal Auditors' definition of internal auditing, the paper predicts that internal audit use is associated with factors related to risk management, strong internal controls and strong corporate governance. To test the predictions, the study combines data from a survey of listed companies with information from corporate annual reports. The paper also provides descriptive information on the use of internal audit.FindingsThe results indicate that only one‐third of the sample companies use internal audit. While size appears to be the dominant driver, there is also a strong association between internal audit and the level of commitment to risk management. However, the study finds only weak support for an association between the use of internal audit and strong corporate governance.Research limitations/implicationsA limitation of our study is that some of the variables in the model may not be good proxies for the factors being measured. Refinement of the model and the variables used provides an opportunity for future research.Practical implicationsThe limited use of internal audit by Australian companies has important implications for sound corporate governance.Originality/valueThis is the first study that identifies factors associated with the use of internal audit by Australian listed companies.
Effects of the PricewaterhouseCoopers merger on the UK audit services market
Authors: Duxbury Darren , Moizer Peter , Azmimi Wan‐Mohamed Wan 
Published: January 2007

PurposeThis paper seeks to investigate the effect of the PricewaterhouseCoopers (PwC) merger on the market for audit services in the UK. To this end a “what if” analysis is conducted comparing estimated outcomes prior to the merger with those expected under post‐merger conditions. Particular attention is given to the effect of the merger on the relative performance of the top tier and non‐top tier audit firms.Design/methodology/approachThe paper employs a Markov chain model to estimate the long‐term market shares of audit firms' pre‐merger and post‐merger. Concurrently, an optimisation model is employed to generate parameters reflecting the relative attractiveness of audit firms and the probability that a client company continues with the current audit firm.FindingsPrior to the PwC merger, this model would predict a large reduction in the share of the non‐Big Six from 17 per cent to a long run 7 per cent. However, the effect of the PwC merger appears to be that the position of the non‐Big Five has been improved and the model predicts a slight increase in long‐term market share to 18 per cent.Research limitations/implicationsThe Markov model employed makes a number of assumptions that may restrict the generality of the implications that can be drawn from the analysis.Practical implicationsThe results show that, contrary to the worries of the competition authorities, the long‐term impact of the PwC merger, ceteris paribus, would be to improve the position of the non‐top tier of auditing firms.Originality/valueAuditor concentrations studies have been mostly descriptive. This paper reports an analytical study of the potential effect of audit mergers on market concentration.
Accounting firms cautiously maneuver in the new audit environment – a note
Authors: Nagy Albert L. , Cenker William J. 
Published: January 2007

PurposeThis paper seeks to discuss the effect that the Sarbanes‐Oxley Act (SOA) had on both the nature of the external audit function and overall audit quality. Additionally, it aims to discuss how audit firms maneuvered through the newly regulated environment, and what their strategic actions are for the future.Design/methodology/approachThis discussion is based on interviews conducted with auditors from nine public accounting firms located in Northeast Ohio, United States of America. The sample consisted of five national and four regional firms, and the interviewees included mostly partners and a few senior managers.FindingsThe increased oversight and workload resulting from the SOA requirements has changed the nature of the external audit function to more compliance type work, and the environment has created much anxiety for the auditors. The new reform has significantly impacted the audit environment in terms of: scope of services; client assessment procedures; management and audit committee relationships with the external auditor; audit firm personnel management; and the long‐term outlook of the profession. The details of these impacts are discussed throughout the paper.Research limitations/implicationsThis paper provides detailed insight as to how the SOA impacted the audit profession. Hopefully, such an understanding will benefit future research in measuring the costs and benefits of the new reform. Lastly, a future research showed further examine the effect that the SOA has had on overall audit quality.Originality/valueThis paper summarizes the insightful comments obtained in structured interviews with several leading audit professionals. The sample was judged to be highly knowledgeable of the changing audit environment caused by the SOA. With an improved understanding of its impacts, regulators, practitioners, and academics can better assess the effectiveness of the SOA.
Follow the leader
Authors: Dalton Catherine M. , Dalton Dan R. 
Published: January 2007

PurposeLooks at the current structure of boards where the CEO fills all leadership roles. Benefit is in having a single voice. Disadvantage is having CEO self‐monitor.FindingsA lead independent director (LID) can crate an effective system of corporate governance. The LID is chosen form among the ranks of outside board members and serves as a liaison between corporate management and the outside board members.Practical implicationsProvides managers with information on the benefits of creating a LID position.Originality/valueOf particular value to CEOs and other board members and outside recruiters of board members.
Cross‐border alliances: advice from the executive suite
Authors: Klaas Jagersma Pieter 
Published: January 2007

PurposeHow does a company make its way through the cross‐border alliance jungle? The article seeks to address several issues facing companies that are considering or managing cross‐border alliances.Design/methodology/approachThe author conducted 106 face‐to‐face interviews and 86 telephone interviews.FindingsIn this research study, three questions were answered: Why should I form a cross‐border alliance? How should I select a proper alliance partner? What are the key factors for capturing substantial (alliance) value?Research limitations/implicationsThe study focuses on the views of senior executives and top managers of public companies and senior executives and top‐managers in state‐owned enterprises (especially in the energy sector), subsidiaries (of big global firms) and large private enterprises. The study does not include small and medium‐sized companies. The research does not focus on cross‐cultural management issues.Practical implicationsThe research indicates that some simple guidelines can improve the success rate of a cross‐border alliance. Many cross‐border alliances do not realize their full potential because the preparation, planning and implementation process fails to clearly define what success means. Companies should use structured approaches because cross‐border alliances are a means to an end, i.e. they need to be viewed as a sequence of actions in the context of an overall business strategy – not as one‐off transactions. Time and patience are required to design a cross‐border alliance, structure the deal, and manage the implementation process. Cross‐border alliances should not be viewed as romantic. They should be evaluated for what they are – a way of competing.Originality/valueThe article extends the current globalization debate by bringing into focus the issues faced by cross‐border alliance participants. The conclusions are embedded in an extensive global study.
Sarbanes‐Oxley legislation and the private company: if not a marriage, then certainly an engagement
Authors: Dalton Dan R. , Dalton Catherine M. 
Published: January 2007

PurposeLooks at attempts to avoid Sarbanes‐Oxley guidelines over past few years. It has been widely reported, for example, that the number of public companies announcing their intention to privatize has increased 30 percent since the enactment of SOX. Some other companies will elect not to seek initial public offerings but will remain private enterprises.FindingsPrivate firms have so far avoided such Sarbanes‐Oxley regulations changes. Pressure is mounting, however, to ensure that whether public or private, firms operate in compliance with SOX. Some states are considering Sarbanes‐Oxley‐like legislation.Practical implicationsProvides managers with information on progress toward applying Sarbanes‐Oxley guidelines to private corporations.Originality/valueOf particular value to CEOs and other board members.
When bad things happen to good companies: strategy failure and flawed executives
Authors: Finkelstein Sydney 
Published: January 2007

PurposeTo develop a perspective on strategy that builds off of case histories of failure to provide insights on what works and doesn't work in corporate strategies.Design/methodology/approachSeveral original case studies are presented, along with a series of analytical points that are suggested from these studies. The case studies are based on both primary (interviews) and secondary data. The paper used these case studies to make several basic points about corporate strategy.FindingsThe critical findings relate to how executives misread the competitive landscape, fall into the trap of believing in their own strategy in the absence of confirming evidence, and sometimes engage in desperate decisions to try to remedy fundamental problems that cannot be so easily resolved.Research limitations/implicationsThe data in the paper are all based on subjective assessments of the competitive and business arenas firm were engaged in, and hence may subject to a variety of biases.Practical implicationsThe paper focuses on how individual executives can use the analysis presented to prevent and/or avoid the same pitfalls companies often succumb to.Originality/valueThe data, approach, and analysis are all original to this paper. It presents a counterweight to the dominant approach in research on strategy that focused solely on best practice by providing examples of how failure can be used as a learning device in organizations. The paper should be of value to practicing executives, as well as researchers interested in corporate mistakes and failures.
Rethinking strategic marketing: achieving breakthrough results
Authors: Fodness Dale 
Published: January 2007

PurposeTo provide a practical overview of strategic thinking concepts and practices for marketing and other managers that can help them improve their strategy making.Design/methodology/approachThe raw materials of strategic thinking are illustrated by case studies and examples from a range of industries to aid managers in their successful application. The principles and techniques are presented in four categories: thinking strategies, strategic decision making, strategic competencies and visualizing strategy.FindingsOffers marketers an approach for moving beyond the automatic application of traditional strategic frameworks to identify and to achieve breakthrough strategies. Recognizes the real power of strategic thinking as a source of competitive advantage.Practical implicationsThe principles and practices proposed represent a practical system for enhancing strategic promise and performance, as well as for reducing the risks of strategic failure.Originality/valueThe marketing discipline is long overdue in applying the same attention and rigor to strategic thinking that it applies to strategic planning and this paper offers managers practical help in identifying and developing strategic thinking competencies.
Are you at the top of your game? Checklist for effective leaders
Authors: Xavier Stephen 
Published: January 2007

PurposeTo use case studies to describe and demonstrate how improvements in adaptability and emotional intelligence (EI) can assist executives in effectively performing their employee and leadership roles.Design/methodology/approachThree case studies are highlighted. They document how actively recognizing EI deficiencies and working to develop these through coaching and practice improve employees’ capabilities to identify and control their behaviors and actions, leading to a more productive work environment. A brief history of EI origins and research is explained along with descriptions and solutions of common leadership stumbling blocks.FindingsEach case study presents the history of the problem, the solution and the results. Additional information is provided on several EI research studies.Research limitations/implicationsResearch on improving EI and how it relates to performance and work environment has been conducted in a variety of settings. Only a few of these are presented here. Many EI studies are still in progress to determine lasting effects.Practical implicationsManuscript represents a good primer for use by executives and human resources personnel when implementing EI coaching and practice in work environments. Content also includes identification of common leadership errors and suggested corrective action.Originality/valueUsing case studies to describe EI and adaptability issues provide practical advice to those striving to bring change to the work environments and increase the productivity of both themselves and their teams.
The intelligent clean room: ensuring value capture in mergers and acquisitions
Authors: Chanmugam Ravi , Shill Walt , Mann David , Ficery Kristen , Pursche Bill 
Published: January 2007

PurposeTo illustrate the importance of speeded up merger integration process that creates value part of the M&A lifecycle.Design/methodology/approachThis paper relies on recent case studies, client work and a survey.FindingsMergers that create maximum value treat the transaction as a complete lifecycle – beginning with pre‐deal strategy, progressing through deal execution and continuing with post‐merger integration. Most successful merger and acquisition (M&A) transactions are characterized by the superior execution of an explicit value‐capture strategy, which we call the “life‐cycle approach.” To achieve this, top managements in the most successful transactions have relied on four key principles: treat M&A as a holistic process; focus on value creation, not just integration; accelerate merger planning and execution; and use culture as a value‐creation tool.Practical implicationsCompanies which already have an in‐built M&A capability, will adopt new best practices in merger integration that treat post‐merger integration earlier in the M&A process.Originality/valueFor companies who have an active M&A growth strategy, a speeded up merger integration allows for the early capture of M&A deal value.
A new tool for strategy analysis: the opportunity model
Authors: Morris Donald 
Published: January 2007

PurposeTo streamline the process of opportunity recognition and make it more effective by clarifying the meaning of opportunity and making its elements explicit.Design/methodology/approachClarifying opportunity is effected by providing a model and illustrating its effectiveness through application to examples and to SWOT (strengths, weaknesses, opportunities and threats) analysis.FindingsProvides support for the practical benefits of applying an explicit model for recognizing opportunity.Originality/valueThe model facilitates opportunity recognition by encouraging avoidance of common dead ends, including mistaking catalysts for opportunities, associating opportunities with negative conditions, equating options with opportunities and the circular process of defining opportunities in terms of strengths and weaknesses.
Corporate governance reforms: profiling at its worst
Authors: Dalton Catherine M. , Dalton Dan R. 
Published: January 2007

PurposeLooks at modern guidelines for corporate governance as essentially an exercise in profiling. Sarbanes‐Oxley, oversight agencies, and self‐regulatory agencies focus on the adoption of certain board composition configurations in a purely subjective way and on the basis of factors not clearly linked to outcomes. This paper suggests that other behaviors can more accurately measure performance.Design/methodology/approachDelineates the more salient behaviors and activities that inform whether boards are effectively meeting their responsibilities.FindingsThe following characteristics are more predictive of board performance than those presently used: having an independent board budget; appointing lead independent directors; including emeritus directors; not including a retired CEO on the board; executive sessions for independent board members; elimination of executive committees; refraining from related party transactions.Practical implicationsProvides managers with information on important factors to consider when selecting, measuring and evaluating boards of directors.Originality/valueOf particular value to CEOs and other board members.
Either/or
Authors: Marren Patrick 
Published: January 2007

PurposeTo provide the author's opinions about key issues in strategy and the future to the readership.Design/methodology/approachOpinion column.FindingsDiscussion of the difficulty of reconciling different personality types in the strategy process.Research limitations/implicationsSpeculative, and based not on rigorous research but on the author's experience of planning engagements across a wide variety of private and public enterprises.Practical implicationsWarns strategists about the difficulties of getting disparate personality types to work together.Originality/valueExpresses several opinions that the author believes have not been expressed (or adequately appreciated) elsewhere.
Restoring trust in American business: the struggle to change perception
Authors: Goodman PhD Michael B. 
Published: January 2007

PurposeTo analyze the challenges for business posed by rising anti‐Americanism and anti‐globalism, the need to restore trust in business, and the demands of transparency. These considerable, but surmountable challenges are met by keeping pace with rapid change, through communicating and building reputation, and through modeling the concepts of “truth” and “trust” as the common currency of a robust world civilization.Design/methodology/approachFocus on recent research into global attitudes toward business by Pew Global Attitudes Project, Edelman Annual Trust Barometer, NOP World, Global Market Insite; and on the PR Coalition White Paper, Restoring Trust in Business.FindingsEmerging best practices for combating anti‐Americanism and for restoring trust through ethical behavior, transparency, and board‐level commitment.Practical implicationsCorporate development of public affairs and issues management strategies designed to mitigate the negative impact of rising anti‐Americanism and declining trust in business.Originality/valueUnderstanding a shift in global attitudes toward business results in informed decision making, strategic planning, and effective issues management and thought leadership.
Value‐changing behavior: getting the habit
Authors: Wortman Brent 
Published: January 2007

PurposeTo help corporate business executives convert what they know about value into what they can do about creating value in their organizations.Design/methodology/approachIn October 2004 Deloitte Consulting LLP surveyed 124 financial executives about the creation of value at their companies, and subsequently focused on the companies with which they have worked with that do know how to make value creation real.FindingsDeloitte Consulting identified eight value‐inhibiting behaviors and in their place constructed eight value‐creating behaviors that collectively motivate companies to get beyond what they know and to act on their knowledge.Practical implicationsPragmatic advice on building organizational behaviors that create value by encouraging clear, consistent and efficient communication habits.Originality/valueGuidance and actionable advice to business leaders on changing value‐destroying behaviors within their organizations and implementing value‐creating behaviors.
Finding the best marketing mix
Authors: Wise Rick , Sirohi Niren 
Published: January 2007

PurposeLooks at how to find the best marketing mix for a particular company and how to track and measure marketing activities for return on investment.Design/methodology/approachOpinion piece.FindingsSix guidelines will help to identify and implement the best marketing mix: Set up the right scorecards; Track and analyze; Don't be afraid to experiment; Keep both brand and revenues in mind; Look over the fence; and Build a test and learn culture.Practical implicationsProvides managers with guidelines for determining marketing budgets and activities.Original/valueOf particular to strategic planners, CEOs, senior executives, brand managers, marketing.