The rapid spread and acceptance of globalization and the enormous

developments in information technology, has led to dramatic changes in

the business environment. These changes have brought new challenges

not only to business but also to business education. Business schools

that prepare future managers in different disciplines are responsible for

closing the gap between the skills acquired by its graduates and the

required skills by the global markets. (Ehab and Sherif, 2003).

Explain three (3) ways on how management accountants can respond

effectively to the changes in business environment, as mentioned above.