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Entering the Network Economy

In: Strategic Management Accounting in a Network Economy

Author

Listed:
  • Wingsun Li

    (Beijing Normal University & Hong Kong Baptist University—United International College)

Abstract

This chapter provides a brief account of SMA development during recent decades and sums up SMA in four dimensions: strategic cost dimension, strategy market dimension, strategic performance dimension, and strategic value dimension. Each dimension has its own role to contribute to value creation of the corporation. The beginning of the twenty-first century has shown a dividing line between old and new economies characterized by high interdependence, shared resources, fuller integrated network, and digital links. I call it the age of network economy. There are noted differences between these two economies, particularly in the areas of resource planning, control, and coordination. SMA knowledge and applications have exposed inadequacy in meeting the demand of this new business environment. SMA has an immediate need to review its concept and techniques, with the intention to enlarge the scope and roles to fit the new transformed network environment. In response to this call, I have selected a few practical SMA topics and explore potentials of new scope or develop practices that help business managers to deal with new economy. Detailed discussions are shown in subsequent chapters.

Suggested Citation

  • Wingsun Li, 2023. "Entering the Network Economy," Management for Professionals, in: Strategic Management Accounting in a Network Economy, chapter 0, pages 1-18, Springer.
    • Handle: RePEc:spr:mgmchp:978-981-99-5253-3_1
    DOI: 10.1007/978-981-99-5253-3_1
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