Accounting for Purpose: How Chinese Philosophies Influence Management Control Systems in Chinese Businesses
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Tuesday, July 2, 2024 |
9:15 AM - 9:30 AM |
Presenter
Ms Jesse Yang
Phd Student
University Of Canterbury
Accounting for Purpose: How Chinese Philosophies Influence Management Control Systems in Chinese Businesses
Abstract
The secret ingredient of all successful organizations is purpose. This study investigates how young modern Chinese organizations achieve their purpose by moving beyond a focus on accounting profit through the influence of three traditional Chinese philosophies: Confucianism, Taoism, and Buddhism. To do this we examine how Chinese philosophies influence the management control systems (MCS) of an organization, as these practices focus on the purpose of an organization. The study is based on qualitative interviews at three young emerging Chinese organizations. We found that traditional Chinese philosophies focused executives on being people-oriented, balance freedom and constraints, understand what contributes to corporate value, deal with uncertainty, and engage with sustainability and corporate social responsibility. This resulted in companies considering long-term sustainability rather than just short-term profits to achieve their purpose.
Biography
Chair
Carly Moulang
Director Of Engagement And Impact
Monash University