The paper "Issues in Management Accounting " is a perfect example of a finance and accounting assignment. Emsley (2005) states that “ innovation is generally regarded as an important research topic” because, based on a source that the same author cited, innovations are thought to make it possible for organizations to effectively adjust to unpredictable business environments and thus survive. Indeed, it has been suggested that the volatile business environment that exists today requires businesses to continually adapt in order to survive and compete effectively (Bixler, 2011). Hence, Bixler (2011) notes that the new business environment that exists requires forethought, conversion and innovation.
This is because the business environment is one in which business theories have to be continuously reassessed for their ability to match the needs of the organisation as well as their validity. As well, the Information Resources Management Association (2015) points out that the importance of innovations has well been recognised and different industries, including finance, accounting and banking, are growing by adopting innovative and technological requirements. For instance, through innovation, various organisations in the aforementioned industries can come up with new products, methods of doing things, rules and so forth to attract customers and deliver different types of services.
Therefore, it can be argued based on the various accounts given by different authors, that innovation is an area that is significant when it comes to research. This is because as implied by Emsley (2005), doing research on the various areas in which to innovate can help organisations to come up with new products, services or processes that can help them to withstand the challenging business conditions that they (the organisations) face.
Carrying out research on the areas in which to innovate can also help organisations to change or adjust the way they operate and thus become more competitive. It is because of the various reasons that innovation can generally regard as a significant research area as noted by Emsley (2005). Explain why the author is emphasizing the role of Theory development (section 3: page 160). (3 marks) Emsley (2005) is emphasizing on the role of theory development because of the role that theory development plays in research. According to Fawcett and Downs (1986), one of the reasons why research is conducted is to search for theory.