Inspirationslunch: Beyond Budgeting – a new management model for new business and people realities

Bjarte Bogsnes has a long international career, and is currently heading up the Beyond Budgeting implementation at Statoil.

Bjarte is Chairman of Beyond Budgeting Round Table Europe (BBRT), and is a popular international business speaker. He is the author of ”Implementing Beyond Budgeting – Unlocking the Performance Potential”, where he writes about his implementation experiences.

Statoil realized that traditional leadership and management practices no longer work in today’s competence organizations operating in business environments more complex, dynamic and unpredictable than ever. The company implemented innovative alternatives to traditional management, like abolishing traditional budgets and calendar-based management in favor of more decentralized, agile and human processes.

In his talk, Bjarte shared experience and insights about following:

  • The problems with traditional management, including budgeting
  • The Beyond Budgeting principles and companies on the journey
  • Statoil’s ”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; a more self-regulating management model
  • Implementation experiences and advice