Beyond Budgeting – Business agility in practice
This workshop will address how an entire organization can be run in an agile way. You will get unique insights into Business Agility in practice, both from a managerial, financial and human perspective. You will benefit from Bjarte Bogsnes’ extensive experience. He has helped companies all over the world getting started on a Beyond Budgeting journey, including his former employer Equinor – where the budget (and much more) was kicked out. This and many other great case stories and practical examples will be shared.
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. Understand how dynamic forecasting and resource allocation works, and also other examples of self-regulating management mechanisms, including transparency. Bjarte will also share insights into KPI and OKR pitfalls, and bonus problems.
Learn from the fringes! Understand how management innovation can provide just as much competitive advantage as technology and product innovation! And last but not least, understand why there can be no true agile transformation without Beyond Budgeting.
- 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 Equinor (formerly Statoil) l 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
- KPI and OKR pitfalls
- The target problem
- The bonus problem
- Beyond Budgeting and agile transformation
- Implementation experiences and advice
- The Beyond Budgeting Roundtable
Bjarte Bogsnes has a long international career, both in Finance and HR. He is a pioneer in the Beyond Budgeting movement and has been heading up the implementation of Beyond Budgeting at Equinor (formerly Statoil), Scandinavia’s largest company. He led a similar initiative in Borealis in the mid-nineties, one of the companies that inspired the Beyond Budgeting model. He has helped numerous other companies globally getting started on a Beyond Budgeting journey.
Bjarte is Chairman of Beyond Budgeting Roundtable (BBRT). He is a popular international business speaker and Beyond Budgeting coach, and a winner of a Harvard Business Review/McKinsey Management Innovation award. Bjarte is the author of „Implementing Beyond Budgeting – Unlocking the Performance Potential“, where he writes about his almost thirty years long Beyond Budgeting journey. His new book “This is Beyond Budgeting – A Guide to more Adaptive and Human Organizations” with a foreword by Gary Hamel I just out.