A deep-dive into Beyond Budgeting - an agile management model for new business and people realities
Traditional management was invented for very different times and is today in serious trouble. The level of VUCA; volatility, uncertainty, complexity and ambiguity in our business environments is at a record high. People also expect more from work than just a paycheck.
How can we enable performance in these new business and people realities? How can we create a more VUCA-robust management model, which also works with and not against human nature? How can we create a more engaging work environment, where people perform at their best because they want to, not because they are told to?
Learn more about new ways of working, where responding to change is more important than following a plan, and where people and interactions are more valued than processes and tools. Get unique insights into business agility in practice, both from a managerial, financial and human perspective. Learn how to trust and empower without losing control, and how to redefine performance – with dynamic and relative targets (or no targets at all) and a holistic performance evaluation. Learn about dynamic forecasting and resource allocation, other examples of self-regulating management mechanisms and how to avoid the KPI pitfalls.
- The problems with traditional management, including budgeting
- Beyond Budgeting - the adaptive management model
- the background
- the philosophy
- the 12 principles
- Companies on the journey around the world; examples of how they operate
- The Borealis story – going Beyond Budgeting before Beyond Budgeting
- the Statoil story - the "Ambition to Action" model;
- redefining performance - dynamic and relative targets and a holistic performance evaluation
- dynamic forecasting and resource allocation and no traditional budgets
- from calendar-driven to event-driven
- examples of self-regulating management mechanisms
- The KPI pitfalls
- The target problem
- The bonus problem
- Beyond Budgeting and Agile
- Implementation experiences and advice
- The Beyond Budgeting Roundtable
You will benefit from Bjarte’s extensive experience of heading up such initiatives in two large organizations, and from his role as Chairman of the Beyond Budgeting Roundtable. Companies all over the world have embarked on radical transformation journeys, including his current employer Equinor, where the budget and much more was kicked out 2005. Both this and other great case stories will be shared.
Learn from the fringes! Understand how management innovation can provide just as much competitive advantage as technology– and product innovation!