Research On The Evolution Of Integration Of Business And Finance From The Perspective Of Sensemaking Theory

In recent years,the Integration of Business and Finance(IBF)has been the focus of the enterprise reforms.New technology has swarmed into the Finance and accounting field of enterprises.The technology of Big data,Artificial intelligence,Block chain supplies assistance for the integration of business finance.Many enterprises in China has been actively trying and researching the IBF.Since its birth,the process has been divided into four phases: the phases of Accounting computerization,Management system,Accounting informatization and application of Block chain technology.This paper focuses on the corporation of H which has carried out the IBF for about twenty years.I did the primary research on its process of IBF,and divided its process of evolution into three stages and built three models based on its whole process of IBF.The study shows that the process of IBF of corporation H includes three stages:financial specialization stage,Business partner stage and value integration stage.Every stage has respective models of sensemaking mode: restricted sensemaking mode,integrated sensemaking mode and guided sensemaking mode.In the different modes,corporation H has different cognitions on the construction of IBF and shows us three levels of integration: superficial integration,formal integration and deep integration.The sensemaking is a process in which individuals understand some clues in complicated situations and endow meaning to them.During the process of IBF of enterprises,sensemaking can explain the evolution of situations to make the owners of enterprises reach a consensus on IBF.The consensus can assist businesses in adjusting the behavior of performing IBF and influence the results of IBF.After obtaining the model of sensemaking,we can disclose the promoting factors,the process of constructing models and the results.I can further conduct research on the mechanism of organizational behavior which has an influence on accounting management,and understand the process and evolution of IBF.The study showes that cognition of IBF of individuals and organizations promote the development and evolution of IBF,so the study can provide an idea for the sensemaking of IBF and assist the further construction of IBF.