Synopses & Reviews
"A leading practitioner in the Beyond Budgeting movement." Robert S. Kaplan and David P. Norton, from their latest book, The Execution Premium
"This is an excellent book for those who want to grapple with the difficult task of radically changing conventional ways of running a company to more effective ways of doing it and ways more in accordance with human nature."
Jan Wallander, Honorary Chairman of Handelsbanken
"At last, Bjarte Bogsnes has made his experience and enthusiasm for Beyond Budgeting available to a wider audience with this remarkable book. I have appreciated his engagement in these important management issues for many years, and his knowledge and leadership have been critical in the transformation of our organization."
Eldar S?tre, CFO, StatoilHydro
"Bjarte Bogsnes is the only person we know who has implemented Beyond Budgeting twice! So he is in a unique position to explain how to do it right. In this very readable account of his Beyond Budgeting journey, he captures the true essence of Beyond Budgetinghow to release the ambition and energy of people across the organization who were previously prisoners of the budgeting process."
Jeremy Hope, cofounder of the Beyond Budgeting Round Table and coauthor of Beyond Budgeting
"In today's complex world, it is of strategic importance to focus on both professional and individual needs. To achieve this, you need independent and proactive employees, but a hierarchical framework is of little use when developing these qualities. Bjarte Bogsnes's book is a valuable contribution to finding a management approach that is both more professional and people-oriented." Erich Harsch, CEO, dm-drogerie markt
"Budgets are ingrained in corporate culture despite the tremendous lack of value they customarily provide. Bjarte takes a pragmatic approach in his discussion suggesting efforts to move past budgeting. He balances analytical views with much needed, but often ignored, discussion on leadership and organizational behavior and offers useful case studies to illustrate his recommendations in tangible ways."
Anand Sanwal, Managing Director, Brilliont, and coauthor of Optimizing Corporate Portfolio Management: Aligning Investment Proposals with Organizational Strategy
Synopsis
This book provides practical guidance on how to implement a beyond budgeting methodology. It draws on actual cases where the author implemented beyond budgeting in large, global companies. It shows what challenges will need to be overcome to make implementation succeed and provides the many benefits that can be realized once the organization has completed the implementation.
Synopsis
This important book describes the serious and systemic problems with traditional management practices, and provides concrete alternatives and practical guidance on how to implement the beyond budgeting methodology, drawing on actual cases in which the author has implemented beyond budgeting in large, global companies. It describes the need for an integrated performance management process across Strategy, Finance and Human Resources,and presents the many benefits that can be realized by embarking on a beyond budgeting journey.
Synopsis
Written by Bjarte Bogsnes, Beyond Budgeting pioneer, Implementing Beyond Budgeting reveals best practices from actual cases where the author headed up implementation of Beyond Budgeting in large global companies. Beginning with a Foreword by Robert Kaplan, cofounder of the Balanced Scorecard, this book reveals how your organization can maximize a performance climate with teams committed to a common purpose, shared rewards, and sustained value creation. This innovative book lucidly presents how every organization can release the ambition and energy of its people who were previously slaves to the budgeting process.
Synopsis
Implementing Beyond Budgeting
Unlocking the Performance Potential
Welcome to the Beyond Budgeting revolution! A philosophy concerned more with leadership than with actual budgeting, Beyond Budgeting is about releasing capable people from the chains of the top-down performance contract and enabling them to use the knowledge resources of the organization to consistently beat the competition. With intellectual assets accounting for 80 to 90% of shareholder value today, people really are every organization's most valuable asset: Implementing Beyond Budgeting: Unlocking the Performance Potential shows you how to build and maximize a performance climate with teams committed to a common purpose, clear values, and shared rewards.
Written by Bjarte Bogsnes, Beyond Budgeting pioneer and Senior Advisor at StatoilHydroan integrated oil and gas company with annual total revenues of $100 billion (U.S.)Implementing Beyond Budgeting reveals best practices from actual cases where the author headed up implementation of Beyond Budgeting in large global companies.
Beginning with a Foreword by Robert Kaplan, cofounder of the Balanced Scorecard, this book reveals how to:
Get upper management to understand the serious and systemic problems with traditional management practices, and how the Beyond Budgeting philosophy offers a credible and rewarding alternative
Implement a Beyond Budgeting philosophy throughout your organization, aligning goals and strategy to the processes that actually impact performance
Liberate your organization from dictatorship, micromanagement, number-worshipping, calendar periods, hierarchies, secrecy, sticks and carrots, and every other myth about effective performance management
Motivate your people and organization to perform and excel to their maximum potential
Overcome challenges to make implementation succeed
Destined to become a classic that will change the way business is done, Implementing Beyond Budgeting: Unlocking the Performance Potential will inspire both managers and employees.
About the Author
Bjarte Bogsnes has a long international career in the oil business, both in finance and HR. As group controller for the petrochemicals company Borealis, he headed the abolishment of budgeting in this company in the mid-1990s and has been advocating the Beyond Budgeting principles ever since. He is now heading up StatoilHydro's Beyond Budgeting project. Bjarte is also Chairman of Beyond Budgeting Round Table Europe and is a popular business speaker internationally.
Table of Contents
Chapter One. The Problems with Traditional Management.Introduction.
Which Way in a New Business Environment?
The Trust Problem.
The Cost Management Problem.
The Target Setting and Evaluation Problem.
The Bonus Problem.
The Rhythm Problem.
The Quality Problem.
The Efficiency Problem.
Chapter Two. Beyond Budgeting.
The Beyond Budgeting Roundtable.
The Beyond Budgeting concept.
The Handelsbanken case.
Chapter Three. The Borealis Case.
Introduction.
The Creation of Borealis.
The Journey Begins.
The Borealis Model.
Implementation Experiences and Lessons Learned.
Borealis Today.
Chapter Four. The Statoil Case.
Introduction.
Creating the Foundation.
Starting Out.
The Statoil Model.
The Scorecard Pitfalls.
Joint Venture Budgets.
What is Next?
How Are We Doing?
Chapter Five. Making the Change - Implementation Advice.
Creating the Case for Change.
Handling Resistance.
Design to “80%” and Jump.
Involve HR.
A Pull-based and Company-owned Implementation.
One War but a Thousand Battles.
Don't Become a Fundamentalist.
Closing Remarks.