Professional Service Industries Research Articles

A REPORT ON RECRUITMENT AND SELECTION PROCESS OF ACCENTURE”

This report provides an in-depth analysis of the recruitment and selection process at Accenture, a leading global professional services company. Accenture's recruitment strategy is characterized by its emphasis on talent acquisition, diversity, and innovation. The selection process involves multiple stages, including application screening, assessments, interviews, and background checks, designed to identify candidates who align with Accenture's values and culture. The report highlights the use of technology and data analytics in optimizing recruitment outcomes and enhancing candidate experience. Additionally, it explores Accenture's commitment to diversity and inclusion, reflected in its efforts to attract candidates from diverse backgrounds and promote equal opportunities. By examining the various aspects of Accenture's recruitment and selection process, this report aims to offer insights into best practices and strategies for talent acquisition in the professional services industry. Keywords:.Accenture, Recruitment, Selection Process ,. Diversity,Talent Acquisition,Innovation

Artificial intelligence adoption in a professional service industry: A multiple case study

This study explores the factors influencing AI adoption in professional service firms. Grounded in the Technological-Organizational-Environmental (TOE) framework, we employed a qualitative, multiple case study approach, investigating three auditing firms of varying sizes through interviews and secondary document reviews. Our findings reveal six factors influencing AI adoption, including technology affordances and constraints, the firm's innovation management approaches and AI readiness, the competition environment, and the regulatory environment. Noteworthily, these factors vary significantly among the three firms. Larger firms, often operating in an environment with high AI penetration, primarily perceive the operating affordance of AI rather than marketing affordance. This means their AI adoption encompasses greater scale and depth than smaller firms. However, this expansive adoption exposes them to a widening gap in regulatory frameworks, hindering AI adoption. Moreover, smaller firms are characterized by weaker AI readiness, positioning them disadvantageously to mitigate the constraints imposed by AI. This study contributes to existing literature by offering a more holistic perspective on AI adoption in professional services.

Factors that affect voluntary turnover among millennials in the professional services industry of Kuala Lumpur

The purpose of this research is to examine the factors that affect voluntary turnover among millennials in the professional services industry in Kuala Lumpur, Malaysia. An online survey using convenience sampling was used, of which a total of 120 samples were successfully collected from millennials working or having worked in the professional services industry and residing in Kuala Lumpur, Malaysia. Structural equation modelling was employed in the analysis part to suggest a working turnover model. Results of the analysis showed that career development showed little significance with voluntary turnover; work-life integration showed a moderate relationship with voluntary turnover, while stress has a strong relationship with voluntary turnover. On the other hand, working culture has no significant effect on the dependent variable. It is essential to emphasize that the findings of this research article will most significantly contribute to the sector of the economy that is concerned with professional services. In the context of forthcoming research, it is necessary to broaden the scope of past studies that have focused on the disparities across different generations of workers about their inclination to change employment willingly. It is crucial to take good care of the employees' physical and mental health. Employers may want to think about setting up an employee assistance programme ("EAP") that includes a hotline that anyone can call to speak with an outside counsellor who is available around the clock. Further investigation can be done to determine the other variables that might influence millennials' voluntary turnover in Kuala Lumpur's professional services sector.

Analysis of The Impact of Net Promoter Score on Financial Performance With Customer Loyalty As Mediation

If we look at the increasing competition and market growth in every field especially in the professional services industry, customers have many choices, which puts organizations in a dilemma to find out what makes customers loyal to the company. People tend to tell negative stories more than positive ones, so understanding and mobilizing Promoters is critical to success. Net Promoter Score (NPS) is used in companies to measure a customer's desire to recommend a company's overall product or service to their friends or colleagues. NPS reflects customer satisfaction & has been shown to be an indicator of business growth potential. In this research, we will explain the relationship between Net Promoter Score and financial performance analysis of the impact of NPS score in IT firm in the last 5 years. The data collection technique used is to make an NPS survey that will be disseminated to existing customers of IT firm in the last 5 years who have purchased services / services as many as 93 customers with 218 Respondents. For variable (X) of this study is NPS, for variable (Y) is Financial Performance and for intervening variable (Z) is Customer Loyalty. The results indicate that NPS has a significant influence on Customer Loyalty, then Customer Loyalty has a significant influence on Financial Performance, and it can also be seen that there is a significant influence of NPS on Financial Performance.

Assessing carbon reduction benefits of teleworking: A case study of Beijing

Teleworking can efficiently decrease the energy consumption and carbon emissions related to physical commuting. Previous studies on assessing the carbon reduction benefits of teleworking were customarily performed according to hypotheses or qualitative methods, and disregarded different potentials of different industries for teleworking implementation. In this study, a quantitative approach was proposed to assess the carbon reduction benefits of teleworking in different industries, which was illustrated via the case study of Beijing, China. The teleworking penetrations of different industries were first estimated. Then, the carbon reduction of teleworking was assessed through the decreased commuting distance using the large-scale travel survey data. Finally, the study samples were extended to a citywide scale and the uncertainty of carbon reduction benefits was evaluated with Monte Carlo simulation. The results showed that (1) teleworking can lead to an average of 1.32 (95 % confidence interval (CI): 0.70–2.05) million tons of carbon reduction, accounting for 7.05 % (95 % CI: 3.74 %–10.95 %) of the total carbon emissions by road transport in Beijing; and (2) information and communication, and professional, scientific and technical service industries had higher carbon reduction potential. Additionally, the rebound effect slightly weakened the carbon reduction benefit of teleworking, which was necessary to be considered and mitigated through relevant policies. The proposed method can be also applied to other regions worldwide, helping to exploit future work patterns and realize global carbon neutrality targets.

Research on the Construction of Electronic Information Professional Groups in Higher Vocational Colleges Serving the Upgrading of Regional Information Industry

Through studying the current situation of the construction of electronic information professional groups in higher vocational colleges serving the upgrading of regional information industry, this paper proposes establishing inter-school professional groups from a horizontal perspective, making appropriate adjustments on the professional groups, and actively adapting to the industrial development. On this basis, the integration of industry-education and in-depth cooperation between schools and enterprises can be realized, and the path of realizing “three-sharing, three-integration” professional group service industry upgrading is innovatively proposed.

Enhancement of overall business performance and business performance by industry sector of accounting firms: Decisions on the allocation of human resource attributes

This paper aims to discuss the effects of various human resource attributes on the overall business performance of accounting firms, as well as the individual business performances of the industrial client base, and intends to identify the key factors and provide them to the accounting firm managers as the basis of making decisions for human resource allocation. This study finds that: (1) The higher the proportion of accounting firm's manger-level supervisors, professional seniors, and professional assistants, the higher the total revenues of the accounting firm; the higher the proportion of professional seniors, the greater the total number of projects of the accounting firm. When the proportion of professional seniors is higher, it will have a positive effect on the individual business performances of the wholesale and retail industries and construction industry; when the proportion of professional assistants is higher, it will bring positive benefits to the individual business performances of the wholesale and retail industry, manufacturing industry, and construction industry; when the proportion of manger-level supervisors is higher, it will be helpful to enhance the individual business performances of the professional, scientific, and technical services industry. (2) The higher the proportion of audit services, tax services, management consultants, and accounting services, the higher the total revenues of the accounting firm. When the proportion of audit services, tax services, and accounting services is higher, it will have a positive effect on the wholesale and retail industry, and the manufacturing industry. (3) The proportion of accounting firm staff with accountant's qualifications cannot bring positive benefits to the overall business performance of the accounting firm or the individual business performance of the industrial client base. Thus, it is suggested that accounting firm managers should employ professional personnel beyond the scope of accounting, tax, and audit, meaning they should employ talents with direct knowledge of the related industry, in order to provide customized quality services to enhance their competitive advantage and improve the business performance of the industrial client base.

Evaluating internal and external knowledge sources in firm innovation and productivity: an industry perspective

Both internal knowledge – investment in internal R&D and information and communication technologies (ICT) as well as external knowledge – knowledge spillovers and active collaboration with partners are rapidly fostering firm productivity and innovation. In this study, we investigate the role of internal and external knowledge in firm productivity and innovation. In addition, we test interactions between investment in R&D and ICT as well as between knowledge spillovers and knowledge collaboration in their association to firm innovation and productivity. We use a recombinant innovation approach and four samples for firms in manufacturing, creative, ICT and science, and professional services industries during 2002–2014 and for pre‐and post‐crisis periods to perform our analysis. In addition to innovation and productivity, we also examine the role of internal and external knowledge as a conduit to the development of innovation internally and the co‐creation of innovation with external partners. Our results lead to managerial and policy implications.

Corporate sustainability and firm performance in small and medium enterprises in Ghana: Mediating role of green innovation

This study examined green innovation influences on the relationship between business organisation corporate sustainability and its performance related to market share, profitability, and market positioning. Participants (n = 432) were from the hospitality (n = 138), agribusiness (n = 74), manufacturing (n = 105) and professional services (n = 115) industries of Ghana (female = 38%; mean age = 34.6 years, SD = 0.897 years, age range = 18–60 years). Data analysis using partial least square structural equation modelling indicated environmental, social, and economic sustainability were associated with firm market performance through the offering of value-added green products and services that satisfy market needs, demands, and expectations. Green innovation practices of the organisation had an indirect effect on the relationship between corporate sustainability practices and firm performance through the conversion and utilisation of novel green knowledge and resources to commercialise new improved green products and services. The findings offer support for the natural resource-based view of firms’ competitive edge using eco-innovation for sustainable market and operational performance.

Impact of data analytics in transforming the decision-making process

Although business analytics is becoming more and more used to provide data-driven insights to support decision making, there is little research on how business analytics may be used at an organizational level to enhance decision making effectiveness. This paper develops a study model linking company analytics to organizational decision-making effectiveness, using the info processing view as well as contingency theory. Based on 740 responses from UK business organizations, the research model is examined using structural situation modelling. Key findings show that business analytics can be done through key findings. Mediating a data driven environment positively affects information processing abilities, which have a good impact on decision-making effectiveness in turn. The findings also show that the pathways from company analytics to decision making are obvious. There are no statistical differences between large and small businesses, but several differences between the manufacturing and professional services industries. Our findings add to the literature on business analytics by offering helpful insights into company analytics applications and the facilitation of data driven decision making. They also improve the knowledge and understanding of managers by showing how business analytics needs to be applied to improve decision making effectiveness.

The knowledge system and organisational learning sequences of enterprises serving the elderly: evidence from China

ABSTRACT The study explores the knowledge system and organisational learning activities of enterprises serving the elderly using the case study of two Chinese enterprises, and the following findings were obtained. The analysis shows that the complexity of the knowledge system of comprehensive enterprises for the elderly is not weaker than that of the professional technical service industry. The knowledge system of enterprises serving the elderly presents sequential characteristics. We ague that the types of knowledge elements of enterprises serving the elderly should be integrated and contained to form a knowledge system with holographic characteristics. Furthermore, the knowledge accumulation of enterprises serving the elderly depend on the selection of appropriate organisational learning strategies, showing an obvious spiral process of stimulus-response model. This paper provides valuable insights for the enterprises serving the elderly to determine the development direction and path.

Professional services in the age of platforms: Towards an analytical framework

In the 21st century, access to professional services remains a challenge for the underprivileged. Technology in general and platforms in particular might significantly change this state of affairs. Therefore, a key question arises: how might platforms transform the professional service industry and change the way these services are made available to society? When might platform dynamics lead to winner takes-all-outcomes in this setting and what consequences can be expected for traditional firms? This paper addresses such issues by bringing together these separate streams of research – professional services and platforms – highlighting theoretical aspects that explain why this combination might be relevant. Empirically, we investigate the presence of platforms in the industry and suggest an analytical framework and propositions to guide research. Our study is relevant for academics as it adds to our understanding on how platforms might contribute to increased access to professional services and lead to social change; moreover, a better understanding of the interplay between platforms and professional services contributes to knowledge building in both research areas. Additionally, the study benefits practitioners, as the suggested framework allows insights for strategy building.

Strategic entry deterrence in the audit industry: Evidence from the merger of professional accounting bodies

AbstractStudies show that incumbents reduce prices in response to higher entry threats in consumer industries. We provide new insights on the importance of an incumbent firm's reputation to the limit‐pricing decision by examining a professional service industry where the supplier's reputation serves as an existing barrier. The recent staggered passage of mergers of three Canadian accounting certification bodies exogenously increases the probability of future entry to incumbent audit firms. Employing difference‐in‐differences analyses and a strict fixed‐effects structure (client‐firm, audit‐firm, province and year‐month fixed effects), we find that incumbent audit firms reduce audit fees in response to a higher entry threat induced by the merger. The microstructure of the audit industry provides further insights—non‐Big‐4 audit firms reduce fees after the merger, while Big‐4 audit firms can withstand higher entry threats and do not adjust fees.

Not All High-Growth Firms Are Alike: Capturing and Tagging Ohio’s Gazelles

In this study, the authors present a statistically valid typology of high-growth firms (HGFs), also known as gazelles, to determine if payroll and job growth patterns differ between groups or clusters. Cluster–discriminant analysis was conducted on a cohort of 26,104 HGFs s in Ohio, using data from the Quarterly Census of Employment and Wages from 2010 to 2015. Only 1.2% of all Ohio’s firms can be classified as high growth. The larger herd of gazelles grows consistently, while the other, much smaller pack experiences short, intense growth spurts. Roughly 30% of the two gazelle clusters (Consistent High Growth and Volatile High Growth) are in the information service, financial service, and professional and business service industries, compared with 18% in the low- and slow-growth cluster. The nongazelle HGF cluster has proportionately more businesses in manufacturing and the leisure and hospitality industries than the gazelle clusters.

A Tale of Two Professions: The Impact of SOX and the Global Economic Crisis on Public Accounting and Law Firms’ Performance

We examine the impact of the Sarbanes–Oxley Act of 2002 (SOX) and the global economic crisis of 2008 on revenue generation patterns of public accounting and law firms. Using a sample of firm-year observations from both industries, we show that since the enactment of SOX, public accounting firms have significantly increased leveraging of partner time and decreased charge-out rates to boost their revenue per partner. While law firms also exhibit an increase in revenue per partner in the post-SOX era, their increase is rooted in higher average charge-out rates and lower leveraging. During the crisis, the public accounting industry was insulated by the relatively inelastic nature of its services. By contrast, law firms suffered a decline in demand for their services, which reduced their revenue generation by reducing their charge-out rates. We also consider cross-sectional variations within each industry and find significant differences across firms in the impact of SOX and the economic crisis. Notably, large firms in both industries were more significantly impacted by SOX and the Big 4 accounting firms were adversely impacted during the crisis. Our study sheds light on the revenue generation and human resource consequences of two significant macroeconomic events for two professional service industries that serve as watchdogs in our capital markets.

Market maker? The Fantus Company and the making of a market for location in the United States

Large firms are faced with an ever-widening array of consultancy services and providers. From management consulting to accounting to logistics to human relations, the professional services industry has seen extraordinary growth in the number of firms and range of services they provide. In this paper, we examine the history of one consultancy firm, albeit a small and particular one. The Fantus Factory Locating Service was established in 1919 and pioneered what we know today as the site selection or location consulting industry. Brokering between firms and communities seeking to attract investment, Fantus was able to structure and powerfully shape the landscape of economic activity in the United States. Drawing on a variety of secondary sources and a primary source of archived company files the paper examines the growth of the firm, the nature and scale of its work and its extraordinary and lasting influence on the changing US economic landscape.

Innovativeness in the Professional Services Industry: A Practice Level Analysis

Professional services firms (PSFs) are characterised by high external client interaction as well as by high levels of internal knowledge intensity. However, the literature is remarkably mixed on the question of how these characteristics impact innovativeness in this industry. While client interaction and demand may induce innovation, clients may be looking for tried‐and‐tested solutions to their problems from professional service providers. Similarly, while professionals' knowledge and expertise is required for new service development, their specialisation does not necessarily lead them to be innovative. We analyse both externally‐oriented and internally‐oriented mechanisms to understand PSF innovativeness, conducting our analysis at the level of practice areas in PSFs. Using a survey of 218 practice areas, we only find support for the internally‐oriented mechanisms and not external ones. It is a combination of human capital, the sharing of knowledge internally, and allocating decision rights to the professional staff that drives innovativeness in PSF practice areas.

Are local workers better‐off from foreign presence? A firm‐level panel data analysis of a service industry

AbstractThis study extends the international investment literature by shedding light on the impact of foreign presence on the host country's workforce in a highly skilled service industry. The empirical analyses utilize a rich panel dataset of firms in the professional, scientific and technical service industry of Vietnam's emerging economy. The adopted estimation strategy takes into account possible endogeneity problem and measurement bias. The results indicate that local workers in the industry are generally better‐off from the presence of foreign firms which pay much higher and simultaneously induce domestic counterparts to pay higher. The subgroup analyses provide deeper insights into the heterogeneous impact of foreign presence, carrying important implications for the local labour market.

Contemporary marketing practices approaches in the professional services industry in Brazil

The objective of this study is to investigate the Contemporary Marketing Practices (CMP) of professional services firms from the State of Santa Catarina in Brazil, according to the models proposed by Coviello, Brodie & Munro (1997) and Coviello, Milley & Marcolin (2001). The research methodology has a quantitative and descriptive approach and uses a survey; the sample encompasses 146 companies from the accounting, engineering, consulting, advertising, information technology and hospital industries. Our findings also reveal the existence of seven main business segment typologies: “Advanced Relational”; “Interactive Relational/Network”; “Relational Database/Digital”; “Moderately Relational”; “Conservative I”; “Conservative II” and “Refractory”.

Agile vs traditional project management approaches

PurposeAgile project management methods gain increasing attention of practitioners while they often remain neglected by scholarly research. Specifically, there is little known about how performance factors of agile firms differ from those of traditional firms. Scholars argue that these factors often relate to a firm’s human resource management (HRM). This study aims to analyze and compare the HRM architectures in agile and traditional project-based organizations that lead to high firm performance.Design/methodology/approachThe authors apply fuzzy-set qualitative comparative analysis on data of 154 project-based organizations of diverse professional service industries in Russia.FindingsThis study’s findings suggest that HRM architectures of high-performance agile firms imply a broad use of ability-, motivation- and opportunity-enhancing practices and a high degree of HRM process centralization, while traditional firms adopt more diverse HRM architectures.Originality/valueBased on this study’s results, the authors stress the importance of ensuring a good fit between a company’s project management approach and HRM architecture. The revealed configurations may also provide guidance for practitioners on designing effective HRM architectures in project-based organizations.