Beyond Budgeting – Business agility in practice
This workshop will address how an entire organization can be run in an agile way, where people and interactions are more valued than processes and tools, and where responding to change is more important than following a plan. 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 employer Equinor (formerly Statoil) – where the budget (and much more) was kicked out 2005. 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!
Outline/Structure of the Workshop
-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
- Implementation experiences and advice
- The Beyond Budgeting Roundtable
For leaders at all levels