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Analyzing revenue models for the future scenarios of the accountancy sector : an examination of trends, issues and driving forces for the future of the accountancy sector

Mulder, N.L. (2013) Analyzing revenue models for the future scenarios of the accountancy sector : an examination of trends, issues and driving forces for the future of the accountancy sector.

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Abstract:The accountancy sector is, like many other business related sectors, subject to change. The complexity of the current and future environment stems mainly from the existence of certain and uncertain trends with a high impact, the formulation of ‘right’ steps and the implementation of these steps in the organizational setting. A better understanding of the trends and their direction signs is essential for a ‘sustainable’ business model. Our research is about (strategic) choices and a suitable revenue model for the accountancy sector and gives an answer to the following main question: What are the strategic scenarios and trends for the future of the accountancy sector (SMEs) and which developed revenue model is most suitable in order to be successful? The reason for conducting this research is to analyse trends and possibilities for the future of the accountancy sector. An increasingly popular method for this is foresight by means of scenario planning. The economic crisis, changing customer behavior and decline of trust from the market resulted in accountants who are ‘seeking’ in the ‘perfect storm’. All kinds of news sites and blogs paid attention to the necessary changes of the accountancy firm. The investigation of actual expectations lacked scientific research. At the moment ‘little’ resources and time are spend on forming strategy and environmental analysis and also few outsiders were involved in the process. This research revealed trends and their directions for the future regarding politic, legal, economic, ecological and demographic trends as well as segmentation, employee and marketing aspects. Many trends and actions are not fully visible yet. The future is explored by developing four scenarios and using certain trends – some of which have been identified from theory – according to accountancy related experts. It was investigated to what extent accountancy firms must adapt their (internal) processes, strategy and revenue model in order to be successful in the future. For the creation of an effective and efficient organizational structure which may lead to the achievement of drawn performance criteria by management and to comply with laws and regulations it was necessary to conduct further research. This required some additional criteria that are derived from the turnaround management theories, customer value proposition strategies and product-market strategies. The information was collected by conducting interviews with accountants, bank employees, university lecturers, and tax and marketing specialists). Accountancy firms must look more beyond their current core business. In particular, advices and tailor made services will become important. Accountancy firms must make a clear choice for their business model and revenue models. The developed and analyzed revenue models which indicates suitable, unsuitable and ‘take account of difficulties’ aspects can serve as a guide. On the basis of scientific literature and opinions of respondents recommendations were given for a suitable revenue model for the accountancy sector of the future.
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:Business Administration MSc (60644)
Link to this item:http://purl.utwente.nl/essays/74676
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