Changing Accounting Education With Purpose: Market-Based Strategic Planning for Departments of Accounting

Three independent factors are simultaneously motivating changes in accounting education: the 150-hour educational requirement, the accounting education change movement, and changes in accreditation standards. These three catalysts combine to provide a unique window of opportunity for change. The authors build on models presented by Hofer and Schendel (1978) and Porter (1985) to suggest a planning process involving ten sequential steps to enhance the likelihood of making change with purpose. The steps are: 1. Study your potential markets. 2. Evaluate your raw materials. 3. Evaluate your resources. 4. Study your competition. 5. Develop your strategy (select your niche). 6. State your mission. 7. Design your product. 8. Design your production process. 9. Implement change. 10. Monitor outcomes. The process outlined can cause discomfort, but also holds great promise. Accounting faculties should honestly and openly talk about some very difficult issues. The CPA market is not the only one that faculty should consider. There may be tremendous opportunities for exploitation of previously ignored market segments with new products