Michael SmetsTitel: Professor Oxford University, Saîd Busines School
Dr Michael Smets is Associate Professor in Management and Organisation Studies and a Research Fellow at Green Templeton College. He is also a member of the Centre for Professional Service Firms, based at Oxford University, Saïd Business School.
Michael’s research focuses on professional service firms (PSFs), especially their internationalisation, innovation and regulation. Professional services play an increasingly significant role not only as an important business sector in their own right, but also as a lubricant for business transactions and government activities more broadly. Critically, with the increasing ‘servitisation’ of manufactured goods and the rise of ‘hybrid’ organisations that bring together experts from a variety of disciplines, understanding professional service firms and the lessons we can learn from them helps address a wide range of challenges faced by 21st century organisations.
Michael focuses especially on the management of global law, consulting and reinsurance firms. He employs innovative qualitative methodologies, such as video- and team-ethnography, to capture the minute details of professional work. Most recently, he did so in a widely-noted ‘fly on the wall’ study of reinsurance trading in Lloyd’s of London.
He uses these data to contribute to institutional theory, practice theory and the field of professional services knowledge. He is being recognised as one of the first to blend those theories in order to connect individual, organisational and institutional dynamics in the study of professional organisations. His study on the integration of cross-border services in global law firms and its impact on local regulatory systems has been awarded the 2012 Best Article Award of the Academy of Management Journal.
The research projects that Michael has been involved in have attracted around £300,000 over four years and have been covered by the national and professional press. Articles have appeared, for example in the Financial Times, Insurance Insider, Reactions, Compliance Complete, Insurance News, Insurance Day, Risk & Insurance, and Strategic Risk.
His research outputs have appeared in leading academic journals, such as the Academy of Management Journal, Human Relations, International Journal of Human Resources, as well as in academic and practitioner handbooks, and in industry reports.
Michael’s work is generating industry impact through a variety of channels. Industry reports (one and two) supplied to the reinsurance industry have been well received and widely cited. The Insurance Institute of London has made some outputs available to its membership and is awarding Continuing Professional Development (CD) points for their use. The study on Risk Trading in the Global Reinsurance Industry has received the ESRC’s inaugural award for “Outstanding Impact in Business” in 2013.
At the organisational level, Michael engages research participants through tailored reports and customised workshops. He also contributes to practitioner publications such as the International Bar Association’s handbook on Law Firm Strategies for the 21st Century and the ‘Insights’ series of the Centre for Professional Service Firms, and he engages practitioner audiences through conference presentations to, for instance, the Financial Services Knowledge Transfer Network in London, the Georgetown Law Symposium in Washington, and the Bucerius Law School Autumn Conference in Hamburg.
Michael’s research has had significant impact on management practice through industry speaking engagements, executive education programmes, and consulting work. Most notably, the ‘fly on the wall’ study of reinsurance trading Michael conducted with colleagues from Cass Business School, London and Aston Business School, Birmingham, has received the 2013 ESRC Award for “Outstanding Impact in Business”.
Academic engagement Michael’s research has also generated academic impact across a variety of areas. He regularly organises or contributes to symposia and professional development workshops of the Academy of Management and British Academy of Management. In particular, he has recently used these occasions to develop capabilities in video ethnography, both as a data collection tool and as a means of enhancing corporate engagement.
He also acts as a reviewer for journals such as the Academy of Management Journal, Organization Studies, Journal of Management Studies and Journal of Organisational Behaviour, and for conferences (Academy of Management Meetings) and is a member of the inaugural editorial board of the Journal of Professions and Organization. He is a three-time recipient of the OMT Division’s ‘ABCD Award’ for outstanding reviewers.
Michael has been nominated for the 2013 Best Paper Award of the Academy of Management Journal, currently the second-most impactful management journal in the world. His work examining how cross-border professional work can impact on local regulatory systems is among the first to blend practice and institutional theory and to develop a multi-level understanding of individual, organisational and institutional dynamics in professional organisations. His contribution is significant insofar as it opens a new perspective on the earliest moments of institutional change and outlines new ways of managing institutional complexity, the collision of conflicting institutional demands on highly regulated organisations.