Seeking ChatGPT's help to produce a dissertation proposal: a note for MBA students

Seeking ChatGPT's help to produce a dissertation proposal: a note for MBA students

The following is an account of my dialogue with ChatGPT (via poe.com) on support to produce a dissertation proposal for an MBA student:

Query 1

Joseph Ho (research student): "I am a part-time MBA student, with my day job being the management accountant of a local bank in Hong Kong. I intend to produce a dissertation proposal for my MBA dissertation project. It is about doing a case study research to evaluate the effectiveness of the management accounting practice of the bank that I work at. At present, I feel that the existing management accounting practice, notably its calendar-driven budgeting planning and control system, of the bank is quite rigid and ineffective. My superior, the Chief Financial Officer (CFO) of the bank, in principle, agrees to let me conduct the case study research in the bank. Nevertheless, the CFO does requires me to assure him that the case study research has research project safeguard in place to maintain adequate confidentiality of the dissertation report content. Could you produce a dissertation proposal in 1,500 words for me to consider?"

Assistant bot: "Certainly, I'm happy to assist you with a dissertation proposal for your case study research on the effectiveness of the management accounting practice at the local bank where you work. Here is a 1,500-word dissertation proposal for your consideration:

Dissertation Proposal: Evaluating the Effectiveness of Management Accounting Practices at a Local Bank in Hong Kong

1. Introduction

As a part-time MBA student and a management accountant at a local bank in Hong Kong, I have observed that the existing management accounting practices, particularly the calendar-driven budgeting planning and control system, appear to be quite rigid and potentially ineffective. Given my insider's perspective and the support of the Chief Financial Officer (CFO) to conduct a case study research, I propose to undertake a comprehensive evaluation of the management accounting practices at the bank.

The primary objective of this research is to critically assess the effectiveness of the bank's management accounting practices and identify opportunities for improvement. The study will examine the underlying processes, tools, and decision-making mechanisms within the management accounting function, with a focus on the budgeting system. By analyzing the strengths, weaknesses, and areas for enhancement, the research aims to provide practical recommendations to optimize the management accounting practices and enhance the bank's overall financial management and performance.

2. Literature Review

The existing body of literature on management accounting practices in the banking sector highlights the importance of aligning these practices with the changing business environment and strategic objectives of the organization (Kaplan & Norton, 2001; Horngren et al., 2015). Studies have emphasized the need for management accounting systems to be flexible, responsive, and able to provide timely and relevant information to support decision-making (Ittner & Larcker, 2001; Bhimani et al., 2019).

The literature also underscores the significance of budgeting systems in the management accounting function. Effective budgeting practices enable organizations to coordinate resources, plan for the future, and monitor financial performance (Hansen et al., 2003; Merchant & Van der Stede, 2007). However, research has also identified the limitations of traditional, calendar-driven budgeting systems, such as their tendency to be inflexible, time-consuming, and disconnected from strategic objectives (Hope & Fraser, 2003; Libby & Lindsay, 2010).

In the context of the banking industry, the literature suggests that management accounting practices should be tailored to address the unique challenges and regulatory requirements faced by financial institutions (Schäffer & Weber, 2016; Zoni & Merchant, 2007). This includes the need to manage risk, ensure compliance, and enhance customer-centric decision-making.

3. Research Methodology

This research will employ a qualitative case study approach to obtain an in-depth understanding of the management accounting practices at the local bank. The case study methodology is particularly suitable for this research as it allows for a thorough examination of the real-life context and the complex interactions within the organization (Yin, 2018).

The data collection will involve the following methods:

Interviews: Semi-structured interviews will be conducted with key stakeholders, including the CFO, management accountants, and other relevant personnel involved in the bank's management accounting processes. This will provide valuable insights into the perceptions, experiences, and challenges associated with the existing practices.

Document Analysis: Relevant documents, such as financial reports, budgeting documents, internal policies, and procedures, will be analyzed to gain a comprehensive understanding of the management accounting system and its integration with the bank's overall operations and decision-making.

Observation: The researcher will conduct on-site observations of the management accounting practices, including budgeting meetings, reporting processes, and performance management activities. This will allow for a deeper understanding of the practical implementation of the management accounting system.

The data collected will be analyzed using thematic analysis, which involves identifying and interpreting patterns and themes within the data (Braun & Clarke, 2006). The analysis will focus on identifying the strengths, weaknesses, and areas for improvement in the bank's management accounting practices, with a particular emphasis on the budgeting system.

4. Ethical Considerations and Confidentiality Safeguards

Given the sensitive nature of the research and the access to confidential information within the bank, the following ethical considerations and confidentiality safeguards will be implemented:

Informed Consent: All participants will be provided with a detailed informed consent form outlining the purpose of the research, their voluntary participation, and the measures taken to protect their confidentiality.

Anonymity and Confidentiality: The identities of the participants and the bank will be kept strictly confidential. All data collected will be anonymized, and any potentially identifying information will be removed from the dissertation report.

Data Storage and Security: All digital data will be stored securely on password-protected devices and cloud-based storage solutions with appropriate encryption measures. Physical documents will be kept in a locked cabinet accessible only to the researcher.

Dissemination and Publication: The dissertation report will be carefully reviewed to ensure that no confidential information is disclosed. If necessary, sensitive details may be omitted or presented in aggregate form to maintain the confidentiality of the bank and its personnel.

Gatekeeper Approval: The CFO, as the gatekeeper, will be consulted throughout the research process to ensure that the study design and dissemination plan meet the bank's confidentiality requirements.

5. Potential Limitations and Challenges

While this case study research aims to provide a comprehensive evaluation of the management accounting practices at the local bank, there are potential limitations and challenges that may arise:

Researcher Bias: As an employee of the bank, the researcher may have inherent biases or preconceptions that could influence the data collection and analysis. To mitigate this, the researcher will maintain a reflexive stance and strive for objectivity throughout the research process.

Access to Data and Participants: The researcher's insider status may facilitate access to data and participants; however, there may be some reluctance or resistance from employees to share sensitive information. The researcher will work closely with the CFO to ensure the support and cooperation of all stakeholders.

Generalizability: The findings of this case study may be specific to the local bank and may not be directly generalizable to other banking institutions or industries. The researcher will, however, strive to identify themes and insights that may be relevant to a broader context.

Time and Resource Constraints: As a part-time MBA student, the researcher may face challenges in terms of time and resources available to conduct the research. Careful planning and project management will be essential to ensure the timely completion of the dissertation.

6. Anticipated Outcomes and Significance

The findings of this research are expected to contribute to the understanding of management accounting practices in the banking sector, particularly in the context of Hong Kong. The study will provide insights into the strengths, weaknesses, and areas for improvement in the bank's management accounting system, with a focus on the budgeting process.

The research will offer practical recommendations to the bank's management, including the CFO, on how to enhance the effectiveness of their management accounting practices. This may involve suggestions for the modernization of the budgeting system, the integration of strategic objectives, the incorporation of performance management mechanisms, and the overall alignment of management accounting with the bank's evolving business needs.

Furthermore, the study will add to the broader academic literature on management accounting in the banking industry, providing a case study-based perspective on the challenges and best practices in this domain. The findings may be relevant to other financial institutions facing similar issues and could inform the development of more robust and adaptable management accounting frameworks for the banking sector.

References

Bhimani, A., Horngren, C. T., Datar, S. M., & Rajan, M. V. (2019). Management and Cost Accounting (7th ed.). Pearson Education.

Braun, V., & Clarke, V. (2006). Using thematic analysis in psychology. Qualitative Research in Psychology, 3(2), 77-101.

Hansen, S. C., Otley, D. T., & Van der Stede, W. A. (2003). Practice developments in budgeting: An overview and research perspective. Journal of Management Accounting Research, 15(1), 95-116.

Hope, J., & Fraser, R. (2003). Beyond Budgeting: How Managers Can Break Free from the Annual Performance Trap. Harvard Business School Press.

Horngren, C. T., Datar, S. M., & Rajan, M. V. (2015). Cost Accounting: A Managerial Emphasis (15th ed.). Pearson Education.

Ittner, C. D., & Larcker, D. F. (2001). Assessing empirical research in managerial accounting: a value-based management perspective. Journal of Accounting and Economics, 32(1-3), 349-410.

Kaplan, R. S., & Norton, D. P. (2001). The Strategy-Focused Organization: How Balanced Scorecard Companies Thrive in the New Business Environment. Harvard Business School Press.

Libby, T., & Lindsay, R. M. (2010). Beyond budgeting or budgeting reconsidered? A survey of North-American budgeting practice. Management Accounting Research, 21(1), 56-75.

Merchant, K. A., & Van der Stede, W. A. (2007). Management Control Systems: Performance Measurement, Evaluation and Incentives (2nd ed.). Pearson Education.

Schäffer, U., & Weber, J. (2016). The substantive contributions of management accounting research. Journal of Management Control, 27(2-3), 121-140.

Yin, R. K. (2018). Case Study Research and Applications: Design and Methods (6th ed.). SAGE Publications.

Zoni, L., & Merchant, K. A. (2007). Controller involvement in management: an empirical study in large Italian corporations. Journal of Accounting & Organizational Change, 3(1), 29-43.".

Query 2

Joseph Ho (research student): "Could you provide more details on the confidentiality safeguards you plan to implement for this case study research?"

Assistant bot: "Certainly, I'd be happy to provide more details on the confidentiality safeguards for this case study research project.

As a highly confidential research endeavor, we have put in place robust measures to protect the privacy and security of all participant data. Here are the key confidentiality safeguards we will be implementing:

Informed Consent: All participants will be required to review and sign a comprehensive informed consent form detailing the purpose of the study, the data that will be collected, and how their information will be protected. Participants will have the right to withdraw from the study at any time.

Data Anonymization: All participant information, including names, contact details, and any other personally identifiable data, will be anonymized and replaced with unique numerical identifiers. The key linking participants to their data will be securely stored and accessible only to the lead researchers.

Secure Data Storage: All electronic data, including interview recordings, transcripts, and any other digital files, will be stored on encrypted, password-protected servers hosted in a secure data center. Physical documents will be stored in locked filing cabinets in a restricted-access facility.

Limited Data Access: Access to the research data will be strictly limited to the core research team. All team members will be required to sign confidentiality agreements and complete training on data protection protocols.

Data Minimization: The research team will only collect the minimum amount of participant data necessary to address the study objectives. Unnecessary personal information will not be gathered.

Secure Data Transmission: Any transfer of participant data between the research site and the data center will be conducted over encrypted, secure communication channels.

Participant Deidentification: In any published reports or presentations, all participant identities will be fully disguised, and no individual-level data will be disclosed.

Compliance with Regulations: The study protocol and data protection measures will be reviewed and approved by the Institutional Review Board to ensure compliance with all applicable privacy and ethical regulations.

Rest assured that the protection of participant privacy and the confidentiality of the research data are of the utmost importance to our team. Please let me know if you have any other questions about the confidentiality safeguards."

Some overall evaluation comments

The assistant bot, in the dialogue, was able to offer informed and concrete suggestion, notably in the form of a detailed dissertation proposal. Moreover, it is able to provide some useful academic references and clear citation of them in the proposal. There is no ChatGPT hallucination in the reference provision in this case. Nevertheless, the research student should treat this as a proposal draft for reference; based on this proposal prepared by the assistant bot, the research student should do more preliminary literature review and customize the proposal to come up with his own version of dissertation proposal.

Reference: a collection of blog notes on using ChatGPT for research purpose.