Business models are changing in a way that will fundamentally alter the role of management accountants in future, according to Professors Alnoor Bhimani and Michael Bromwich.
There are key challenges facing businesses in the 21st century and management accountants will have to adapt to the changing commercial landscape. The future of business can be summed up in two words - fluid and flexible.
Innovation in the form of advanced operational systems and flexible organisational technologies has created a whole new form of business enterprise. As a result, these developments have given companies the nimbleness to meet the pressures of the modern business world from global integration to worldwide competition and complex supply chains.
All the signs indicate that companies are seeing the...