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A statement presenting a reflective position on your experience of the manager’s role and some researchable issues around that role, or on general management, in light of your preliminary reading.

As the chief financial officer for almost 10 years, from the beginning to look at the numbers and perform the analysis of financial statements, to now it is necessary to have a macro vision and comprehensive abilities from all means e.g. information technology to lead the company forward and continue to enhance corporate value. In the past, my thinking was that holding a financial professional qualification such as CPA and academic degree MBA should be sufficient for my entire career. I have learned many management tools such as budgetary control, ABC costing method, SWOT etc., but now I find it difficult to apply seamlessly to work, which may be due to insufficient management support, and some employees cannot keep up with their thinking and abilities to cater the change. I need to have a deep understanding of the way companies succeed, not only on the financial or operation data and objective factors, but also on the implicit essence of success in the changing world. This is the main reason why I enrolled in the Doctor of Business Administration.

We always need to get some scientific theory support. Management theory is at the highest end of management philosophy. It is usually proposed by some masters of management who have rich practical experience and rational thinking, and is generally recognized by business people. One of the most representation is that in Year 1911, American engineer Frederick Winslow Taylor pioneered a new management system developed from traditional management: The Principles of Scientific Management has been considered the origin of modern management thoughts. The theory he put forward has been influencing today business world. Majority of enterprises still consciously or unconsciously use this management theory proposed by the American a hundred years ago. Can this be enough to help companies face changes in the world? I think the answer is probably no.

Management research papers can benefit enterprises and entrepreneurs. In fact, the most cutting-edge, forward-looking, and avant-garde management theories always exist in corporate practice. Only when entrepreneurs or scholars summarize these advanced concepts will they be effectively disseminated, and will be concerned and widely accepted. It is the innovation and practice of the enterprise that has laid the foundation for management today.

Successful companies produce advanced management theories. Therefore, the leaders of European, American and Japanese companies have contributed the most to the essence of management theories. It also made professors from universities in these countries have the opportunity to become masters in management. Chinese companies are still making progress in management practice, a number of leading companies like Haier, Huawei, and Alibaba are becoming the management models of Chinese enterprises. The current management books and management research papers published in China mainly describe Western management ideas and systems, or make some comments based on China’s situations. They emphasize knowledge-based study rather than creative thinking, and follow historical data but not making guidance to readers. My opinion is China’s management theory research and development are only decades and management ideas are normally generated on the basis of Western management which will deliver more new ideas and methods to Eastern philosophy, and guiding value for Chinese enterprises will be further improved.

The value of management research is based on the content that reveals business wisdom which put into management practice. From one perspective, business wisdom has driven the healthy development and success of an enterprise; from another perspective, business wisdom has prevented setbacks and failures in enterprise development.

It is interesting to me that “Ethic” is also increasingly sensitive to the research practitioners. To me as a professional accountant, ethical conduct is the main theme in the field. Professional regulatory bodies e.g. ACCA has issued code of conduct to all members. The American Psychological Association has established certain guidelines for conducting research, to ensure that organizational research is conducted in an ethical manner and the interests of all concerned are safeguarded. Ethic in business research refers to a code of conduct or expected societal norms of behavior while conducting research. It is critical for the organizational leaders to demonstrate excellent ethical behavior, guide others, and train everyone on this critical topic.

I think that many corporate executives will do analysis and submit reports at work, which is also a kind of internal (applied) company research! In my opinion, the biggest difference between this type of research and doctoral research is that doctoral research has rigorous scientific processes and principles. Because doctoral research needs to have the purpose of publishing journals and can be reviewed and used by the public. The company’s internal research is only for internal use. I insist that the quality of the company’s internal research work should be as high as the quality of the doctoral research, so that users can benefit from the research results and can improve the company’s decision-making level.

It is quite usual when the company needs professional (external) researchers to do case analysis such as major acquisitions, the advantages of the external research team are that they have a wide range of experience and more knowledge of current sophistical problem-solving skills. Moreover they are able to ponder over several alternative ways of looking at the problem. But the cost of hiring an external research team is usually high. In 2017, our company hired PricewaterhouseCoopers as an external consultant, and spent nearly US$500,000 in consulting fees to study and evaluate the company’s valuation and potential acquisition options.

As I mentioned at the beginning of this paper, the corporate executives like me as CFO to create value to the company for decision making. This is greatly facilitated by research knowledge. Even superficial knowledge of research helps the manager to deal with the consultant/researcher in a mature and confident manner, so that dealing with experts does not result in discomfort. As a manager, you will be the one to make the final decision on the implementation of the recommendations made by the research team.

To sum up the above points, it is concluded that the knowledge of research greatly enhances the decision-making skills of the corporate executives.

SBS DBA Hong Kong April 2018