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Sharpening Our Vision: Exploration of the AAA's Possible Future Roles AAA Annual Meeting Monday, August 5, 2013 Anaheim CA. Thanks to the Broad Participation. Mike Diamond – past president and volunteer leader The Board Council Task Forces. Agenda. Our path

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Sharpening Our Vision: Exploration of the AAA's Possible Future Roles AAA Annual Meeting Monday, August 5, 2013 Anaheim CA

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Sharpening our vision exploration of the aaa s possible future roles aaa annual meeting monday august 5 2013 anaheim ca

Sharpening Our Vision:

Exploration of the AAA's Possible Future Roles

AAA Annual Meeting

Monday, August 5, 2013

Anaheim CA


Thanks to the broad participation

Thanks to the Broad Participation

  • Mike Diamond – past president and volunteer leader

  • The Board

  • Council

  • Task Forces


Agenda

Agenda

  • Our path

    • Overview of the changes facing higher education

    • Overview of our process

    • Insights from Council

    • The time is right: One-Time Opportunities

  • The journey: Task force reports

  • Where we are – and where we’re going

  • Feedback? Questions? Insights?


Overview

Overview

Mike Diamond

Past President of the AAA

University of Southern California


Why are we re doing this

Why are we’re doing this?


Sharpening our vision exploration of the aaa s possible future roles aaa annual meeting monday august 5 2013 anaheim ca

The challenge: a rapidly changing

educational environment ripe for

“disruptive innovation”

Two key elements as relates to higher education

  • Technology

  • Business model disruption


Technological forces

Technological Forces

“Technology is doing to education what it’s done to countless other industries: disrupting it.”

-- Victor Hu, Goldman Sachs

Stanford U. President John Hennessy on online education: “There’s a tsunami coming.”


Sharpening our vision exploration of the aaa s possible future roles aaa annual meeting monday august 5 2013 anaheim ca

…a

Technology is changing the way our students learn…and courses are delivered


Bain sterling white paper conclusion

Bain/Sterling white paper conclusion

“Higher education in the United States is at a tipping point. In its time of need, the leaders of our colleges and universities have a tremendous opportunity to reshape and reinvent an industry…”

  • The Financially Sustainable University, July 2012

    Source: www.thesustainableuniversity.com


Business model disruption

VALUE PROPOSITION

RESOURCES

PROFIT FORMULA

PROCESSES

Business Model Disruption

Christensen, et al Disrupting College (simplified)


From society s perspective

From Society’s Perspective

Their Tuition

The Value of their Degrees


From the university s perspective their profit model

From the University’s Perspective:Their profit model

>

+

+

<

Tuition Income

Public Funding

Their Costs


Sharpening our vision exploration of the aaa s possible future roles aaa annual meeting monday august 5 2013 anaheim ca

Headline: July 23, 2012 US Higher Education at ‘Tipping Point’ with One-Third of Schools Financially Unstable

“The data is clear: A growing percentage [currently about 1/3] of our colleges and universities are in real financial trouble.”

  • The Financially Sustainable University, July 2012

    Source: www.thesustainableuniversity.com


Reducing university costs

Reducing University Costs?

  • Inefficiency is part of it – but not all

    • Economies of scale?

    • Increasing volume?

  • To manage means reducing complexity

  • Changing the model means changing the value proposition

    • MOOCs, for example

Source: Adapted from work by Lloyd Armstrong, presented to Council, Nov 2012


Raising tuition

Raising Tuition?

  • Increasing the real price decreases access

  • Decreasing access reduces opportunity – bad for society

  • Increasing the real price is causing rapid growth in student loans

  • We are in trouble with tuition!

Source: Adapted from work by Lloyd Armstrong, presented to Council, Nov 2012


Value proposition challenge for higher education

VALUE PROPOSITION: CHALLENGE FOR HIGHER EDUCATION

  • We’re facing complaints

  • Growing demand for demonstrable outcomes

    • Government spending scrutiny

    • Students and families concerns with increasing tuition

  • We must increase value

    • What we teach: Move beyond algorithms

    • How we teach: Use emerging, proven techniques

Source: Adapted from work by Lloyd Armstrong, presented to Council, Nov 2012


Innovation in processes

INNOVATION IN PROCESSES

  • Competency-based education

    • Defined by panels of experts

    • When you display the competency, you earn the credit

    • Changes time to degree

    • Enables transfers, comparisons

    • Western Governors University

    • Bologna Process

Source: Adapted from work by Lloyd Armstrong, presented to Council, Nov 2012

Photo by EarthLED and used under the Creative Commons license. Photo is available here:

http:[email protected][email protected][email protected][email protected][email protected][email protected]H-agwPPs-w1PKK-8HFjm6-9FRR2P-9aCWV1-4Uqv85-5K827n-5qxWLQ-c55YEj/


Business model disruptors

BUSINESS MODEL DISRUPTORS

  • NUMEROUS POTENTIAL NEW “UNIVERSITIES”

    • MOOCS

      • Available everywhere

      • Low cost, quality courses “taught” by famous faculty

      • A huge disruptor

    • Corporate universities

    • Publishers and media companies

    • Companies and foundations using open source materials

Source: Adapted from work by Lloyd Armstrong, presented to Council, Nov 2012

Photo by EarthLED and used under the Creative Commons license. Photo is available here:

http:[email protected][email protected][email protected][email protected][email protected][email protected]H-agwPPs-w1PKK-8HFjm6-9FRR2P-9aCWV1-4Uqv85-5K827n-5qxWLQ-c55YEj/


Business model disruptors1

BUSINESS MODEL DISRUPTORS

  • Accreditation makes entry difficult – for now

  • Lack of some input requirements

  • Competency-based outcomes OK now for accreditation

  • Likely to be more institutions accredited on outcomes soon – offering essentially free degrees

Source: Adapted from work by Lloyd Armstrong, presented to Council, Nov 2012

Photo by EarthLED and used under the Creative Commons license. Photo is available here:

http:[email protected][email protected][email protected][email protected][email protected][email protected]H-agwPPs-w1PKK-8HFjm6-9FRR2P-9aCWV1-4Uqv85-5K827n-5qxWLQ-c55YEj/


Conclusions

CONCLUSIONS

  • The business model is changing

  • Change will not effect all institutions equally

  • Professional associations that represent those institutions, their faculties, and their graduates will need to move in ways that reflect that evolution

Source: Adapted from work by Lloyd Armstrong, presented to Council, Nov 2012


Why are we doing it now

Higher education in the midst of disruptive innovation

AAA-specific opportunities

Board commitment

New council structure

One time financial opportunity

Commitment to fulfill our mission “To further the discipline and profession of accounting through education, research and service.”

Why are we doing it now?


How are we doing it

How are we doing it?


Our mission reevaluated and we recommitted to it

Our Mission: reevaluated – and we recommitted to it!


Our timeline major events in 2012 2013

Our timeline: Major events in 2012-2013

With many, many conference calls and work sessions!


Insights from council

Insights from Council

Pat Poli

Chair of Council, AAA

Fairfield University


The time is right insights from the finance committee

The time is right - Insights from the Finance Committee

Steve Moehrle

VP of Finance - Elect, AAA

University of Missouri – St. Louis


Thanks to strategic decisions and a great community

Thanks to strategic decisions and a great community…

journals

pages

Journals and pages published by the AAA


When we faced challenges we found opportunities

When we faced challenges… we found opportunities

  • IPTF 1: Recognized the strategic role of “expanding knowledge”

  • IPTF 2: Recognized the strategic importance of our capabilities to manage partners

  • The AAA successfully negotiated with EBSCO

  • So we have a (likely) one-time opportunity to increase revenues

    • Continue operations

    • Protect a conservative “rainy day” fund

    • Make strategic investments to insure a strong future, even if publications change radically


How should we think about the publications revenues

How should we think about the publications revenues?

  • Revenues used to fund our current model

    • Approximately $2MM historically built into the budget

    • Budgets usually targeted to be net neutral

    • Require these funds to continue with the current business model

Presented at the Finance Committee budget meeting,

February, 2013


How to think about the additional revenues

How to think about the additional revenues?

  • We are in a time that is

    • Exciting

      • New models

      • New types of IP

      • New audiences

    • Unpredictable

      • Range of revenue models

  • Thoughtful balancing of

    • Investments for the future

    • Preparation for a potential “Rainy day”

?

?

Presented at the Finance Committee budget meeting,

February, 2013


Recommendations for 2013 14

Recommendations for 2013-14

  • Support a task force to explore organizational/structural alternatives

    • Focus on capabilities needed to be

      • Member value producing

      • Agile

      • Efficient

      • Strategic

      • Sustainable

    • Recognized this would likely require

      • Professional support

      • Face-to-face meetings

    • Budgeted for the task force


The journey task force reports

The journey –Task force reports


Expanding knowledge and idea development

Expanding Knowledge and Idea Development

Steve Kaplan

Council Representative, AAA

Arizona State University


Our task force members

Our Task Force Members

  • Christine Botoson, University of Utah, Co-Chair,

  • Steve Kaplan, Arizona State University, Co-Chair,

  • Bonnie Klamm, North Dakota State University,

  • RanjaniKrishnan, Michigan State University,

  • Elaine Mauldin, University of Missouri – Columbia, and

  • Steve Sutton, University of Central Florida


Our timeline

Our Timeline


Informing and influencing policy practice

Informing and Influencing Policy & Practice

Hughlene Burton

Chair-elect of Council, AAA

University of North Carolinaat Charlotte


Model span of influence

MODEL: Span of Influence

Other Stakeholders

Software firms

Advisory Services

Regulators

FASB

GASB

IASB

NASBA

State Societies

Corporate Accounting

IMA

Controllers, CFO’s

Public Accounting

Big 4

Regional Firms

Smaller Firms

University Administrators

Deans

Provosts

Presidents

National

Global

AAA

Faculty Members

Department Memberships?

Practice Members


Overview of big idea

Overview of BIG Idea

  • Develop a AAA Center for Education, Research and Thought Leadership

    • Sponsor joint conferences between AAA sections and practitioner and policy making groups


Big idea develop a aaa center for education research and thought leadership

BIG IDEA – Develop aAAA Center for Education, Research and Thought Leadership

  • Value Proposition

    • Currently there is no single place for someone from practice or policy makers or for AAA members to find information relating to academic research or educational materials. This center would promote many of the ideas provided by the individual groups inside the AAA.  By establishing a center to birth, nurture and house the ideas, the center can begin from a modest base and grow in whatever direction the challenge that lie ahead direct us. 


Big idea aaa center for education research and thought leadership

BIG IDEA – AAA Center for Education, Research and Thought Leadership

  • Some examples of things this Center could do

    • Joint Conferences with Practice and Policy Makers

    • Repository of Online Educational Resources (OER)–

    • Think Tank focused on practice / professional challenges

    • BIG DATA and Qualitative Analysis


Promote joint conferences

Promote Joint Conferences

  • Value Proposition

    • Currently there are few opportunities for faculty and practicing accountants to interact. As a result, there are concerns that our research isn’t relevant because faculty don’t know enough about current issues in practice; and practicing accountants don’t have access to (or visibility of) current research to inform their efforts.


Promote joint conferences1

Promote Joint Conferences

  • Benefits

    • This would allow AAA members to partner with practice to do research and hold discussions that would be a benefit to both policy and practice.  This is also a way that we could partner with practice globally as well.  Many of the practice and policy organizations are global/international.  We could have different themes for these conferences. Also could partner with some of our AAA section journals to have publication outlets for some of the papers/research from these conferences that could be disseminated to a wider audience than can attend the conferences. This would also help with one of our other proposals to focus more academic research on relevant practical issues for policy and practice.

    • Suggestion for first conference – BIG DATA


Big data and qualitative analysis

BIG DATA and Qualitative Analysis

  • Value Proposition

    • This is one of the biggest problems facing the accounting profession today. Society faces problems with accounting for health care, federal budgets, etc.  Many of these problems relate to BIG DATA and how to analyze these large and cumbersome systems.  This would be a great place for the AAA to get involved in some important societal questions and make an impact on practice and policy makers.


Repository of online educational resources

Repository of Online Educational Resources

  • Value Proposition

    • These would be short topical video segments available to AAA/Practice for use in class or by practitioners in their training.  Created from practice and educational point of view.  Could have global reach to many users.  Free for AAA members, with some cost to others.


Promoting effective learning and advancing faculty careers

Promoting Effective LearningandAdvancing Faculty Careers

Julie Smith David

Chief Innovation Officer, AAA


Promoting effective learning

Promoting Effective Learning


Realize faculty growth at all stages

Support faculty through career services

Reward and celebrate accomplish-ments

Help faculty learn about future capabilities

Realize faculty growth at all stages

Acknowledge a wide range of contributions


2 educating the membership

#2 Educating the Membership

Knowledge is Power!

sample rec’s

  • Accounting Faculty of the Future Panels

    • Annual meeting

    • Midyear and regional meetings

  • Centers for Research Databases and/or Centers for Faculty Development and Teaching Excellence

  • Member/institutional empowerment


Where we are and where we re headed

Where we are – and where we’re headed

Julie Smith David

Chief Innovation Officer, AAA


Reflections on sov

continuity

value to members, segments, and

the accounting academy as a whole

concentrated voice

faculty development

reimagining our core

impact

external engagement

Reflections on SoV!

balanced member:staff roles

leverage

teaching

increasing the size of the pie

sustainability

integration

policy recommendations

decentralization overload

research

efficiency

“Go To” organization

sharing

two-way communications with external entities

concerned with practice

leaders


How to flesh out the idea

How to flesh out the idea?

  • Develop the initiatives from the SoV recommendations

  • Professional assistance

  • Engage our members

    • sharpeningourvision.com

    • Section and region meetings

    • Webinars

    • Accounting Education News updates

  • Establish two new task forces


Continuing through

SoV Task Force: Chaired by Karen Pincus (Past President)

Continuing through

  • Strategic Initiatives Task Force

    • Focus on strategic initiatives

      • Especially “Big Ideas”

      • Potentially creating a “Center” (or some other new structure for new initiatives)

    • Chair: Christine Botosan (AAA president-elect)

    • Staff Liaison: Julie Smith David

    • Seek professional assistance

  • Strategic Organization Task Force

    • Recognized by the Finance Committee and Board

    • Focus on changes to enable transformation

      • Eliminate roadblocks

      • Work with segments

    • Examples

      • Make all journals available to members

      • Webinars

    • Chair: Stacy Kovar (former VP Finance)

    • Staff Liaison: Dave Frazier (Interim CFO)


Feedback questions

Feedback?Questions?

Mike Diamond

Past President of the AAA

University of Southern California


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