Critical success factors in managing sustainable indigenous businesses in Australia

• Published in: Pacific Accounting Review
• Main Authors: Bodle, Kerry, Brimble, Mark, Weaven, Scott, Frazer, Lorelle, Blue, Levon
• Format: Article in Journal/Newspaper
• Language: English
• Published: Emerald 2018
• Subjects: First Nations
• Online Access: http://dx.doi.org/10.1108/par-02-2016-0017; https://www.emerald.com/insight/content/doi/10.1108/PAR-02-2016-0017/full/xml; https://www.emerald.com/insight/content/doi/10.1108/PAR-02-2016-0017/full/html

Purpose The purpose of this paper is to investigate success factors pertinent to the management of Indigenous businesses through the identification of points of intervention at the systemic and structural levels. Through this approach, the economic and social values that First Nations communities attach to intangible Indigenous cultural heritage (ICH) and Indigenous cultural intellectual property (ICIP) may be both recognised and realised as assets. Design/methodology/approach This paper adopts a multidisciplinary approach to address a global issue of economic and social significance to First Nation peoples, their businesses and the Australian Aboriginal communities. The authors adopt a First Nation epistemological standpoint that incorporates theoretical perspectives drawn from a diverse range of fields and theories (Preston, 2013), as well as advocate the use of Indigenist methodology for research with First Nation peoples as it is underpinned by critical race theory. Findings The authors argue conceptually that accounting, accountability and auditing consideration are required to fully identify what is impacting the successful management of Indigenous enterprises. Specifically, in relation to accounting, Elders should be included to assist in valuing the intangible ICH and ICIP assets. Furthermore, the authors emphasise the need to improve the financial and commercial literacy levels of Indigenous entrepreneurs. Practical implications The authors prescribe the use of tools for the accounting treatment of ICH and ICIP as intangible assets within an Australian regulatory environment and define an auditing process and accountability model incorporating cultural, social and environmental measures. A central tenet of this model relates to improving levels of personal and commercial financial literacy in the First Nation participants. Collectively, these factors promote informed participation and decision-making, and may promulgate more sustainable outcomes. Social implications Integrated thinking requires all ...