Hi All - After trips over the past few months to U.S. chapters and last month to the Middle East, earlier this month I visited China where IMA has doubled its membership each of the past two years, with exponential growth in CMA exam candidates. Why this growth? We have a great staff and partners who give us a local view into the market rather than a Montvale, N.J. view of local needs. IMA has translated many of its publications into Simplified Chinese, as well as the 4-part exam. The 2-part exam is in the process of being translated. While we are trying to find the right balance between local service innovation and shared service support from the head office, in any event we must have an unwavering focus on delivering a greater volume of relevant local services that enrich careers, organizations and societies/economies. Finally, IMA as a non-profit with a clear societal mission has been in China for several years building and nurturing relationships and relationship management is key to success (e.g., governmental agencies and other valued partners).
But, the big "aha" is the central government and MNC emphasis in China on talent development ....
And this is where IMA can continue to be a leader around the globe. The CMA exam certifies competency in critical management accounting skills. IMA's Leadership Academy helps to develop leadership skills in many facets. Webinars, conferences, publications, research, and other educational programs all help fill in the gaps identified by governments and companies - gaps in leadership and influencing skills, planning, budgeting, risk management, decision support and more.
One might conjecture that the talent management gap in the U.S. (a well developed economy) is insignificant, but it is a challenge there as much as in emerging/growth economies. Simply put, there exists a gap between what accounting educators teach (emphasis on financial accounting topics such as tax, regulatory reporting, audit and compliance) and the critical additional skills also needed in practice (e.g., planning, M&A, performance management, decision support and much more).
The coming year promises to be an exciting one for IMA as it continues to grow in size, relevance and influence. We intend to be part of the solution (if not leading the solution) in the talent management gap so stay tuned for exciting announcements in the coming year. Simply put, greater competency in management accounting means that organizations and economies are able to achieve sustainable growth while protecting investors and other stakeholders.
Thanks, and I always look forward to your feedback!!