The Business Renaissance Quarterly最新文献

{"title":"Dynamics of Organizational Wisdom","authors":"J. Hays","doi":"10.20460/jgsm.2007118711","DOIUrl":"https://doi.org/10.20460/jgsm.2007118711","url":null,"abstract":"Abstract Neglected till recently in management research, expansion of interest in wisdom and its practical application across a wide range of disciplines is observed. Embrace of the ancient wisdom traditions such as Zen Buddhism, Confucianism, and Taoism, and wider acceptance of spirituality and soul in the workplace exemplify the trend. Facets of wise thought and action are central to burgeoning disciplines such as business ethics, sustainability, transformational leadership, corporate citizenship and social responsibility, and workplace democratization. Built on the principles and practices of organizational learning and knowledge management, but surpassing them in their ability to foster learning, understanding, commitment, and \"doing the right thing,\" organizational wisdom provides an aim worth striving for. This paper identifies and explains important elements of organizational wisdom, and describes their interaction as a dynamic, complex system. Understanding this system illuminates causes of organizational learning problems, permits targeting key sticking points and levers for change, and suggests strategies for more effective learning and the achievement of important performance outcomes. A New Era Unfolds If the last decade of the 20th Century and the early years of the 21st may be termed the era of the learning organization, the period that supercedes it might aptly be termed the era of organizational wisdom; that is, if we can understand and overcome the barriers holding us back. Despite the explosion of research and writing on organizational learning, knowledge management, and related subjects since 1990, there continues to be concern as to how to become a learning organization, exploit intellectual capital, and best value, develop, and get the most out of our human resources. It is not the intent of this paper to exhaustively review or to rehash the organizational learning / learning organization literature, but to provide a working foundation upon which the ideas of organizational wisdom can be developed. A sample of those sources drawn on more heavily includes Argyris (1982; 1991), Argyris and Schon (1978), Garvin (1993), Gorelick, Milton, and April (2004), Griffey (1998), Kirn (1994), Lichtenstein (2000), Reynolds and Ablett (1998), Schein (1993; 1999), Senge (199Oa; 199Ob), Shaw and Perkins (1992), Shelton and Darling (2003), Tucker, Edmondson, and Spear (2002), Ulrich, Von Glinow, and Jick (1993). These sources indicate that we have certainly achieved a profound increase in awareness about the need for change and adaptation, and the mechanism viewed as the best solution, learning organizations; but, paradoxically, we have fallen woefully short of becoming them. The components of organizational learning do not tell the story. It is the way they are arranged, fueled, and operate synergistically that explains how organizations learn (or fail to) and what they need to do to achieve greater levels of wisdom and effectiveness. At the ","PeriodicalId":355684,"journal":{"name":"The Business Renaissance Quarterly","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131040526","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Fair Value's Affect on Accounting's Ability to Predict Future Cash Flows","authors":"Keji Chen, Ramachandran Ramanan, G. A. Sommers, Gary K. Taylor","doi":"10.2139/SSRN.930702","DOIUrl":"https://doi.org/10.2139/SSRN.930702","url":null,"abstract":"AbstractThis study assesses the ability of the outputs from an accounting system to predict future cash flows. Specifically, we focus on a \"complete fair value\" accounting system's ability to predict future cash flows as compared to the predictive ability of an accounting system implementing a variety of accounting attributes (including, for example, historical cost and fair value, among others). We find that the outputs from an accounting system implementing a variety of accounting attributes has greater information content for future cash flows than the outputs from a \"complete fair value\" accounting system. The results of this study imply that moving toward a fair value accounting system may reduce accounting data's predictive ability for future cash flows.(ProQuest: ... denotes formulae omitted.)IntroductionThis study assesses the ability of the earnings and book value of equity derived from two different financial accounting systems to predict future cash flows. The two different accounting systems used in this study are (1) the accounting system based on the implementation of current accounting standards (hereafter referred to as a mixed attribute accounting system) and (2) mar1 ket data where the market data is utilized as a proxy for a \"complete fair value\" accounting system.2,3> 4While \"fair value measurement\" has a variety of meanings and definitions, it appears that the IASB is inherently using \"market value\" as its definition of fair value.5 The IASB specifically discusses \"exit value\" as its measure of fair value but as this term is utilized by the IASB, \"exit value\" will often equal market value (Penman, Richardson, and Tuna [2007]). One may argue that the IASB does not intend for a \"complete fair value\" system to be implemented. However, the IASB has noted that many if not all of the assets and liabilities currently recorded under a different accounting system (such as historical cost) will be recorded under fair value accounting under certain circumstances. A listing of the standards that will be affected by fair value measurement can be found at http://www.iasplus.com/agenda/fairvalue.htm. Specifically included in this listing are the following two standards: IAS 16 (Property, Plant and Equipment) and IAS 38 (Intangible Assets).We find that, on average, a mixed attribute accounting system outperforms a \"complete fair value\" accounting system in predicting future cash flows, possessing both greater relative and incremental information content. This finding highlights a potential cost of the current movement towards fair value accounting. That is, a mixed attribute accounting system is more likely to meet financial accounting's predictive objective than a \"complete fair value\" accounting system.6In this study, we utilize market price and the change in price plus dividends as reasonable proxies for the reported values of book value of equity and earnings under a \"complete fair value\" accounting system.7 In essence, this market data ","PeriodicalId":355684,"journal":{"name":"The Business Renaissance Quarterly","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116306757","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}