CamEd Business Review

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CamEd Business Review (CB Review) is an online publication of CamEd Business School. It targets original manuscripts on ideas relevant to emerging matters in management, finance, accounting, marketing, business law, tax, audit, business communication, human resources management. CB Review welcomes interdisciplinary topics which are immediately useful to those in the board rooms, CEOs, CFOs and other members of the management. Meant to become a quick and meaningful resource, CB Review typically welcomes manuscripts by actual practitioners and academics, written in a style which is user-friendly and appealing to the greater public. We aim to publish two Issues per year. We may likely publish more often in the future. As a service to the author(s), we fully commit to finalizing the whole process within thirty days from the submission date. Please send your manuscripts and questions to the Editor-In-Chief at: [email protected]

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End date: 2024Has files: Yes

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    DON’T AIM FOR PROFIT. INSTEAD, CREATE CUSTOMERS!
    (CamEd Business School, 2024-06-30) Virak Prum
    Purpose of any business: It is well known that the purpose of a business is to create customers. Nothing else should matter as much. Peter Drucker, the well-regarded creator of management study as a distinct discipline, announced his wisdom early on when he published his The Practice of Management in 1954. There is, he wrote then, “only one valid definition of business purpose: to create a customer.” (p.37) Yet, it is not uncommon to find managers and economists so focused on profit maximization which leads them to prioritize on quick wins, neglecting the need for a more comprehensive strategy. True, business environment in the 1950s might have been quite different to what we are facing presently. Globalization and technological advancements have brought about new challenges and changing realities into the market, a phenomenon which could make long-term strategies less certain. But, even so, half a century after his famous book first appeared, in the revised edition of Management published in 2008, the assertion remained unchanged: “to maximize profits…is not only false, it is irrelevant.” (p.97)
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    Beyond the Numbers: How AI Empowers Accountants for Strategic Impact
    (CamEd Business School, 2024-06-30) Edman Padilla Flores
    The Evolving Role of Accountants: Historically, the duties of accountants mainly involved maintaining financial records, reconciling accounts, and preparing financial reports. While these responsibilities remain critical, the role of accountants has evolved considerably. Nowadays, accountants are expected to provide strategic financial advice to businesses. They assist in establishing financial goals, crafting budgets, and developing growth strategies. Accountants play an important role in organizational strategic planning and decision-making, extending their expertise beyond financial reporting to strategic management accounting (SMA). SMA takes a broader business perspective and informs strategic decision- making. The changing business environment and the introduction of new techniques have prompted management accountants to adopt a business orientation and strategic approach. In addition, accountants actively participate in risk management efforts. They assess financial risks, identify vulnerabilities, and devise strategies to counter potential threats. Through this proactive approach, businesses can safeguard themselves from unforeseen financial crises. Accountants are also involved in financial forecasting, which helps businesses plan ahead. They use historical financial data and market analysis to forecast financial trends and recommend budget adjustments.
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    AI in the think tank World: My Personal Assistant, Not (Yet) My Friend
    (CamEd Business School, 2024-06-30) Jason Chumtong
    In 2019, I shifted my approach towards Artificial Intelligence (AI) from academia to the political sphere. I transitioned from studying the risk of AI for autonomous driving in Edinburgh to serving as a policy advisor on AI in Berlin. Although I was never a supporter of the Kurzweil-Narrative in The Singularity is Near (2005) regarding AI’s evolution to surpass human intelligence, I remember that at that time, the consensus among the community was that AI would at least become ubiquitous in the following few years. Highlighting this point might seem almost redundant, considering that at least half of the readers of this text are likely wondering if ChatGPT played a role in its creation. However, it’s important to note that discussing AI often feels like missing the forest for the trees. There are many AI applications out there that make life much easier. However, there are nearly as many problems associated with their use, demonstrating that AI is far from being a friend. Therefore, the text that follows shine upon aspect of the benefits AI provides as a digital tool akin to a personal assistant especially within the think tank world but also analyses ethical considerations and the state of technology that prevent it from being entirely reliable.
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