Statistics and Business Research
The problem that is evident in the literature is the balance of power and conflict of interest that is bound to happen in case of the controller involvement in the management decision-making. Thus, the problem lies in the balancing the experience of the controller in understanding the company financial condition and using that for the advantage of the company in the market (Hartmann and Maas, 2011). However, the personal interest of the controller and their moral boundaries are not specified in any literature thus the possible negative influences are not explored which is essential for developing safeguards so no controller can take advantage of the knowledge and power awarded (Son, 2015).
Gaps and opportunities
The gap mentioned can be used I the research for the development of specific boundaries for the involvement of the controller in the management decision-making process (Son, 2015). This provides an opportunity for the exploration of the possible negative impacts of the controller involvement in the decision-making process.
The primary research question is:
The secondary research questions are
What aspects of the company health can be negatively affected by controller influence in the management?
Does the knowledge of a controller about internal processes of the company give them an advantage over the other partners in the business?
What controls can be used to maintain possible power balance among the partners of an organization by balancing the controller’s professional knowledge advantage?
The research design most suitable for answering the specific research questions would be a research that would use primary qualitative data collected from experienced members of the profession of accounting and management involved in the industry. The research process would involve the following steps.
The research philosophy chosen for the research would be positivism and the approach would be deductive where the data would be used to form the conclusion that would answer the research questions.
The research strategy used for this case would be a survey that would involve an open-ended questionnaire that would provide insight into the issue and identify the scope of the solution and the importance of said solution in case of the businesses of a specific size (Graham, Davey-Evans and Toon, 2012). The data collected would be qualitative in the research and the sources primary.
The sample would be drawn from the industry and a non-probability convenience sampling would be used. The specific sampling method that would be appropriate for this research would be the snowball sampling which would allow for contacting people within the specific industry within a short amount of time and limited effort (Emerson, 2015). This would also facilitate the data collection process where the efficiency of the research process and variety of data would be high. The size of the sample needs to be at least 20 to avoid any chance of bias and the experience or level of expertise should be considered to have a clear understanding of the opinions and their significance for the research.
The data collection method that would be used a survey questionnaire sent by mail to the participants of the research and collection of the replies in the same method.
Variables used in the specific study would be the positive or negative business impact of the involvement of controller in decision-making. The experience and expertise of the controller divided into levels like an expert and moderate would be the dependent variable in this case and the moderating variable would the morality of the controller and ethical use of information regarding the financial condition of the company.
The main limitation of the research is the nature of the replies being different for the differently sized companies and the expertise level of the participant affecting their view of the issue being researched. Hence, the sampling process has no way to prevent such occurrences. The data analysis has no way of preventing an error of this kind. The factors of the sampling an analysis, therefore, leaves room for error in understanding the interrelation of the factors and as the study is qualitative the richness of the data makes the identification of specific answers and through classifying the answers based on the given variables is complex step that cannot be moderated (Taylor, Bogdan and DeVault, 2015). As a result, the reliability of the information and the applicability in all contexts remain unclear in this study.
The research plan, in this case, consists of the following steps
Reliability and validity
As the sampling method used referrals from qualified individuals, there is less chance of getting undesired input and thus the richness of the qualitative data collected in the research is ensured. The analysis, on the other hand, leaves room for error because of the same reason and the diversity would affect the conclusion being unanimous in this regard (Emerson, 2015). As the role of the individual controller and morality is a conceptual thing and not really understood, the results will leave much room for error that would limit the validity of the research in practical application. Moreover, as the data would be invaluable in answering the research question in an optimal setting it is bound to be limited as the practical scenarios are affected by many factors and are far from optimal.
The ecological fallacy that is central to the research is very acute (Harrison, 2017). There is no way of understanding the morality of the person in an assured manner and every human has different levels of morality and control that cannot be categorized as they different based on different situations based on both internal and external conditions.
The frequency diagram for the research would correlate the expertise of the participant in their role as an accountant and controller, which would be based on the accumulation of their qualification and experience. The other variable would be the impact on performance in both negative and positive impacts, as understood by the opinion of different professionals.
The research can conduct a more in-depth analysis of the role of the controller on the research and the overall functionality of the specific role in both the positive and negative performance. This would not only need to be more accurate in terms of the magnitude of the impact of the role but also the full implication in the long-term output of the business. Therefore, ht the specific outcome of the research will be more accurate as the impacts of the role of the controller will be analyzed in relation to the business performance and the different responsibilities that will impact the business in varying degrees.
Graham, A., Davey-Evans, S. and Toon, I., 2012. The developing role of the financial controller: evidence from the UK. Journal of Applied Accounting Research, 13(1), pp.71-88.
Son, W.J., 2015. The Empirical Study on Interrelationship between Strategy, MCS, Corporates Performance and Role of Controller. Journal of the Korea Convergence Society, 6(5), pp.303-314.
Hartmann, F.G. and Maas, V.S., 2011. The effects of uncertainty on the roles of controllers and budgets: An exploratory study. Accounting and Business Research, 41(5), pp.439-458.
Emerson, R.W., 2015. Convenience sampling, random sampling, and snowball sampling: How does sampling affect the validity of research?. Journal of Visual Impairment & Blindness (Online), 109(2), p.164.
Harrison, R.T., 2017. Signalling journal impact and prestige: Venture Capital: An International Journal of Entrepreneurial Finance.
Taylor, S.J., Bogdan, R. and DeVault, M., 2015. Introduction to qualitative research methods: A guidebook and resource. John Wiley & Sons.
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