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Competency Integration in Business Education ACBSP International Conference 4 November 2016
Raef Lawson, PhD, CFA, CMA, CPA Vice President-Research & Policy and Professor-in-Residence IMA® (Institute of Management Accountants)
About IMA • IMA® (Institute of Management Accountants),
founded in 1919, is a leading global professional association of accountants and financial professionals in business.
• A network of 80 000+ members and over 300 chapters worldwide (including 100 student chapters).
• Global headquarters in US; regional offices in Asia, Europe and the Middle East.
• IMA offers a professional certification program, the Certified Management Accounting (CMA).
• IMA has numerous programs to support the teaching and research efforts of the academic community.
The Need for Competency Integration in Business Education
Integration: How Business Professionals Add Value
The Need for Competency Integration in Business Education
5
Globalization and technological change are rapidly changing the
environment in which businesses operate. • Business professionals increasingly operate cross-functionally, in
increasingly complex environments, collaborating with other managers in order to improve organizational performance.
Greater competency requires students to achieve higher levels of
cognitive development for thinking about and using acquired
knowledge.
The cognitive development literature suggests that thought
processes develop in hierarchical levels or stages, with each level
laying the foundation for the next-higher level.
Competency Integration and Level of Cognitive Ability
Knowing Identifying Analyzing Prioritizing Anticipating Demonstrate knowledge in unambiguous situations
Identify ambiguous problems and relevant information
Analyze relevant information, viewpoints, and alternatives
Establish and apply priorities for reaching conclusions
Anticipate and adapt to changing conditions
Achieve First
Achieve Second
Achieve Third
Achieve Last
6
D
eepe
r Kno
wle
dge
and
M
ore
Con
text
ual C
ompl
exity
The Need for Competency Integration in Business Education
7
Students’ initial exposure to a technical skill typically focuses on skill mastery with minimal integration.
They may then learn how to integrate foundational competencies with other discipline-specific and broad management competencies.
Students may continue to learn how to further integrate foundational competencies cross functionally to apply that knowledge effectively to tasks requiring them to address realistic, complex business problems.
The knowledge, skills, and abilities of a business education should emerge and be developed within the curriculum as integrated competencies, as this is how those competencies are deployed within organizations.
Levels of Competency Integration
Curricular Integration
Curricular Integration – HOW?
9
Levels of Competency Integration
10 Source: “Focusing Accounting Curricula on Students’ Long-Run Careers: Recommendations for an Integrated Competency-Based Framework for Accounting Education” Lawson, Raef A., Edward Blocher, Peter C. Brewer, Gary Cokins, James E. Sorensen, David E. Stout, Gary L. Sundem, Susan K. Wolcott and Marc J. F. Wouters), Issues in Accounting Education, May 2014.
Curriculum Integration Example: Capital Investment Decision
11
Accounting Competencies Foundational Competencies
Broad Management Competencies
Communication
Quantitative Methods
Analytical Thinking & Problem Solving
Interpersonal
Technology
Leadership Governance, Risk & Compliance
Additional Core Management Competencies
Ethics & Social Responsibility
External Reporting & Analysis
Financial statement preparation and analysis
Taxation: Compliance and Planning
Tax implications
Assurance & Internal Control
Internal and external audit implications
Planning, Analysis & Control
Screening and preference decisions
Behavioral issues
Organizational change
management
Corporate social responsibilities Risk assessment
Cost of capital, Capital structure,
Real-options analysis
Source: “Thoughts on Competency Integration in Accounting Education”, Lawson, Raef A., Edward Blocher, Peter C. Brewer, Jan Taylor Morris, James E. Sorensen, Kevin Stocks, David E. Stout, Gary L. Sundem, and Marc J. F. Wouters, Issues in Accounting Education, August 2015.
Curriculum Integration Example: Inventory Management
12
Accounting Competencies Foundational Competencies
Broad Management Competencies
Communication
Quantitative Methods
Analytical Thinking & Problem Solving
Interpersonal
Technology
Process Management & Improvement
Governance, Risk & Compliance
Additional Core Management Competencies
Ethics & Social Responsibility
Planning, Analysis & Control
Strategic performance measurement
Information Systems
Document and data flows for inventories
Assurance & Internal Control
Internal and external audit implications
External Reporting & Analysis
Inventory accounting
methods Ratio analysis
Global sourcing decisions Lean production
Managing inventory risks
Collaborative supply chain management
Source: “Thoughts on Competency Integration in Accounting Education”, Lawson, Raef A., Edward Blocher, Peter C. Brewer, Jan Taylor Morris, James E. Sorensen, Kevin Stocks, David E. Stout, Gary L. Sundem, and Marc J. F. Wouters, Issues in Accounting Education, August 2015.
A Framework for Including Integrated Competency-Based Learning Objectives
13
Enterprise Performance Management (EPM)(Strategy Formulation and Analysis, Planning, and Execution)
A Life-CycleManagement
Approach
A Value Chain Management
Approach
A Stakeholder Management
Approach
A Resource Management
Approach
A Technology Management
Approach
Capital Investment Decision-Analysis
External Reporting & Analysis Other Accounting Competencies
Broad Management Competencies
LO1 LO2 LO3 LO4 LO5 LO6
Source: “Thoughts on Competency Integration in Accounting Education”, Lawson, Raef A., Edward Blocher, Peter C. Brewer, Jan Taylor Morris, James E. Sorensen, Kevin Stocks, David E. Stout, Gary L. Sundem, and Marc J. F. Wouters, Issues in Accounting Education, August 2015.
Implementation Opportunities & Issues
Identifying Opportunities for Integration
Identifying opportunities for integration requires connecting different aspects of a particular accounting topic. At an abstract level, it may be helpful to think about several connections:
How are ex post and ex ante aspects related? How are financial and nonfinancial aspects of a topic related?
15
Integration Opportunities
• The best way to address implementation challenges may be to consider that it is NOT an “all or nothing” decision.
• Instructors can • Integrate topics within a given course • Integrate topics across courses that they teach • Coordinate with colleagues teaching other accounting courses,
for example, on the basis of a common case that is used across courses.
16
Integration, regardless of who initiates it or how it is implemented, can occur without necessarily involving a complete curriculum overhaul.
Implementation Issues
• Development of content needed for more integrated business education.
• Organizational challenges for implementing more integrated business education in schools and colleges.
• Deployment of pedagogical methods that draw on higher levels of cognitive development of students.
17
Implementation Scope and the Levers of Complexity
18
•Number of Courses
•Number of Competencies
•Number of
Professors
• Number of
Learning Objectives
Within and Across Competencies
Areas of Expertise
Existing and
New
Accounting and Broad
Management
Key Processes in Comprehensive Curriculum Integration
19
List All Desirable Relevant Topics
Select "Need-to-Know" Topics
Formulate Topics into Courses
Organize Courses and Sequence into Programs
Develop Potential Current (and Future) Staffing
Source: “Managing the Curricular-Change Process: Implementing Competency-Based Accounting Education”, Lawson, Raef A., Karen V. Pincus, James E. Sorensen, Kevin D. Stocks, and David E. Stout, Issues in Accounting Education, forthcoming 2017.
Life-Cycle Stages of Curricular Integration
20
1
4 3
Growth
Maturity Decline Renewal
Decline
2 5
Implementation
Cur
ricu
lar
Inte
grat
ion
Time
Source: “Managing the Curricular-Change Process: Implementing Competency-Based Accounting Education”, Lawson, Raef A., Karen V. Pincus, James E. Sorensen, Kevin D. Stocks, and David E. Stout, Issues in Accounting Education, forthcoming 2017.
For More Information
21
“Focusing Accounting Curricula on Students’ Long-Run Careers: Recommendations
for an Integrated Competency-Based Framework for Accounting Education” (Raef
Lawson, Edward Blocher, Peter C. Brewer, Gary Cokins, James E. Sorensen, David
E. Stout, Gary L. Sundem, Susan K. Wolcott and Marc J. F. Wouters), Issues in
Accounting Education, May 2014.
“Thoughts on Competency Integration in Accounting Education” (Raef Lawson,
Edward Blocher, Peter C. Brewer, Jan Taylor Morris, James E. Sorensen, Kevin
Stocks, David E. Stout, Gary L. Sundem, and Marc J. F. Wouters), Issues in
Accounting Education, August 2015
“Managing the Curricular-Change Process: Implementing Competency-Based
Accounting Education” (Raef Lawson, Karen V. Pincus, James E. Sorensen, Kevin
D. Stocks, and David E. Stout), Issues in Accounting Education, forthcoming 2017.
Q & A
22
What are YOUR
experiences/ challenges/
successes with
curricular integration?
Feel free to contact me at: RLawson@imanet.org
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