“I am as I am measured” – Descartes
Accountants over the years have been regularly tasked to develop, report outcomes, use and audit transactional data and events, which can impact the performance and lead to questioning assumptions, however with training and experience, covariation assessments would get enhanced. (Wisniewski and Medin 1994; Tversky and Kanheman 1980) developed a causal-model research which attempted to integrate causal knowledge through data-driven and knowledge-driven processes. What is a matter of concern is an organizations performance may have not kept pace with the rapid changes and so some fundamental questions arise?
About 87 journal articles were studied to review the ideal meaning of a “Business Model “which can be understood as a market device to be considered in the process of creating social and customer value, to respond and inform about several components which aims to reveal criterion through an integration of societal, environment-centred and business activities. (Schaltegger, Freund and Hansen, 2012)
(Waldmann and Hagmayer, 2001), contextualized through the causal-model theory of learning , how causal model knowledge assists accountants in detecting co-variations which in turn reduces cognitive demands of decision-making, as most causal models should incorporate the finding of a causal model and covariation research when testing the prediction of an accountant’s covariation judgments that incorporates temporal delays of complex causal relationships, which can be motivated adopting a 2*2 contingency table.
For simplicity of understanding, the overarching literature of business models (Teece, 2015:5)is deeply entrenched in economics and strategy with core components of Value Creation (gauges competencies residing within organization, ability to stay unique and resist copying practices, maximizing its diverse & complimentary attributes),Value Capture (can evaluate the current ‘stage’ of business model or ‘mixed’ models) and Value Proposition ( ability to create sufficient liquidity or remain cash surplus and stay solvent by recapitalization methods). Several articles which were screened through cross-referencing resulting a search across 115 journals, books and current research documents/ working paper to contextualize (Hec.unil.ch, 2018)along with (Doganova, Eyquem-Renault,2009) advocated to form a patterned thinking constituting a generic business model. (Boons and Ludeke-Freund, 2012)
However, when reviewing the process of value creation, value capture and value manipulation which forms critical components of a value proposition within a business model, Value Manipulation (shall recognize that trading financial and tangible assets in a credit-based financial system can result in windfalls. (Qmro.qmul.ac.uk, 2018).
Author Source – (Haslam et al., 2015).
Again, while the changes in the past, current and future keep managers and decision-makers busy with exhibiting sound business financial planning models. Accountants realize within the dimensions of “corporate crisis”, that sometimes involves a series of rapid changes within the organization to be viewed as mere “situations of zestful corporate survival processes”. So, the challenge remains in selecting an ideal business model by considering the broader objectives, current operating environment, organizational culture, a stock of in-house capabilities, and the risk-reward relationship between each business model.
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