Prof. Jerry Turner Presents to the AICPA Auditing Standards Board
Prof. Jerry Turner and two co-authors recently presented results of an international study to the AICPA Auditing Standards Board in New York City. The study, titled “The Unqualified Auditor’s Report: A Study of User Perceptions, Effects on User Decisions and Decision Processes, and Directions for Future Research,” was conducted in the U.S. and Australia and included results of focus groups with both preparers and users of financial statements. Verbal protocol analysis examining how the auditor’s report on financial statements influences the decision processes of professional financial analysts also was included. Study results will be presented to the International Auditing and Assurance Standards Board this fall. The two Boards commissioned the study as a first phase in examining how the auditor’s report may be made more informative.
Dr. Turner also has joined the Advisory Board of the Journal of Forensic and Investigative Accounting, a new research journal focusing on accounting fraud and related issues.
Prof. Jain Speaks to National Bureau of Economic Research in Boston
Finance professor P.K. Jain was invited by the National Bureau of Economic Research (NBER) in Boston to their October 2009 meeting to discuss "Market Microstruture Invariants" which is the study of what varies and what remains constant in the trading game structure when participants in the financial markets trade stocks and other securities over time and across platforms.
Prof. Rezaee Speaks at 2009 American Accounting Association Annual Meeting
Prof. Zabihollah (Zabi) Rezaee, the Thompson-Hill Chair of Excellence and Professor of Accountancy in the Fogelman College presented four papers at the 2009 American Accounting Association (AAA) annual meeting in NYC in August 2009 three of which were coauthored with PhD students in the Fogelman College. He also conducted a two-day workshop On "Improving Research Productivity" for PhD students and faculty at the Lulea University of Technology in Sweden in September 2009. And, he discussed a paper on "Audit Automation" at the "Information System Integrity, Auditing and Assurance Center" at the University of Waterloo in Canada. Finally, he conducted a Webinar presentation on "Corporate Governance and Ethics Education" on October 21, 2009 through the Wiley Faculty Lecture Network.
Prof. Bhagat is Invited Speaker Internationally
Professor Rabi Bhagat (Professor of International Management and Organizational Behavior) was invited as one of the three keynote speakers for an international scientific congress held in Nizhny Novgorod, Russia from September 16th to September 19th. His trip was funded by the Karl-Vossloh-Stiftung Werdohl Foundation of Germany. The conference was held on the campus of Nizhny Novgorod State University of Architecture and Civil Engineering. The venue was the Institute of Economics and Business. This conference was co-organized by Professor Igor Arzhenovskiy of the Nizhny Novgorod State University and two well-known German scholars from the Cologne University of Applied Sciences and Chemnitz University of Technology.
Professor Bhagat presented his keynote address in English which was simultaneously translated into Russian by an English professor from the same University. His topic dealt with the role of "Cultural Differences in the Perception and Management of Time and Temporal Orientation between German (and Western) Managers and Russian Managers." The two other keynote speakers were Professor Geert Hofstede of the University of Maastricht of the Netherlands and Mr. Roeland Van Gestel, the general manager of Lear Corporation Ltd. (Nizhny Novgorod, Russia).
Professor Bhagat was also invited as a distinguished speaker at the University of Vienna from September 12th to September 16th. He presented a research seminar to the entire international business faculty and their PhD students on the topic of "Culture Clashes Around the Globe and their Implications for the Progress of Economic Globalization" on September 15th. The International Institute of Marketing and Management also requested Professor Bhagat to advise three PhD students in improving their doctoral research designs in the area of international and cross-cultural management.
Professor Bhagat was also invited by the faculty of management to present his research on the topic of international and cultural variations on work stress and coping at the York University Business School in Canada in Spring 2009.
In addition, Professor Bhagat has been invited to present a seminar for the Aerospace Executives of Air Bus Industries on the significance of developing global mindsets at the Toulouse Business School (one of the leading business schools in France and in Europe) in December 2009.
Finally, Professor Bhagat has been invited to present a research seminar on the topic of Culture Clash and Globalization at the University of Reading in the United Kingdom in December 2009.
Prof. Brey Makes Presentation on Small Hotels to the Caribbean Hotel and Tourism Association
CHTA SMALL HOTELS RETREAT GAINS MOMENTUM AS
U.S.V.I. CONFERENCE EXCEEDS 2008 ATTENDANCE
225 Delegates From 17 Countries Gather In St. Thomas For Marketing, Operations Seminars
ST. THOMAS, U.S.V.I. (Oct. 13, 2009) – Caribbean hoteliers representing properties with 75 rooms or less gathered in St. Thomas, U.S. Virgin Islands, last week to strengthen their marketing and operations programs at the Caribbean Hotel and Tourism Association (CHTA) Small Hotels Retreat. With 225 delegates from 17 countries, 2009 attendance exceeded that of last year’s event in St. Kitts by 13%.
The second full day of the conference, Oct. 2, was devoted to hotel operations and led off with a presentation from Eric T. Brey, Ph.D., Assistant Professor, Kemmons Wilson School of Hospitality and Resort Management, University of Memphis, on Driving Revenue – Creating Memorable Guest Experiences.
Brey focused on several revenue enhancing themes which are all rooted in the fundamental need for hoteliers to prioritize the guest experience. According to research, 65% of satisfied customers switch brands, which means hoteliers need to go beyond customer satisfaction in order to achieve customer loyalty.
Travelers are “17% more likely to stay loyal if they enjoy the experience,” said Brey, distinguishing the difference between mere satisfaction and experiences which invoke an emotional response.
The first step, according to Brey, is understanding the customer. “Don’t just ask them … find out who they are,” said Brey, noting that the interests, behaviors and personalities of guests should be utilized for better comprehension of what makes them tick and how to strike a chord with them.
"When establishing service standards it is important to ask the customer what their standards are and where the focus should be placed," said Brey.
A proponent of focus groups, Brey emphasized the role settings can play when gathering information. Conducting focus groups on the beach will illicit a more actionable response than surveys conducted in a white room, for example, as the guests will be in a more appropriate mindset.
Once hoteliers understand their customers, they can begin the task of redesigning the guest experience and implementing these changes. Brey discussed factors ranging from positive versus negative cues to service standards. A major focus, according to Brey, should be on the hotel’s staff.
"Great experiences are rooted in employee actions," said Brey, emphasizing the role of hotel employees' interaction with customers in achieving customer loyalty.
In regards to implementation, Brey acknowledged the budget difficulties faced by many small properties, but noted that revenue generating benefits will ensure a return on investment. Brey went on to map out the entire process for an experience-centric strategy from the evaluation stage to implementation and measurement.
The Caribbean Hotel & Tourism Association (CHTA) facilitates the full potential of the Caribbean hotel and tourism industry by serving members’ needs and building partnerships in a socially responsible and sustainable manner. CHTA was founded in 1962; it is the voice of the Caribbean hospitality industry for the development of the region in the highly competitive and sophisticated environment of international tourism. Today, tourism is widely recognized as a pivotal industry in the economy of the region – and CHTA functions as the common denominator for this industry in a region of diverse nationalities, languages and styles, identifying mutual problems and marshalling the resources of the active and allied members to devise solutions. CHTA represents all facets of the hospitality industry with more than 750 member hotels and 525 allied members.