- Does financial incentives promote commitment and motivation?
- Is your company really doing well when you make the budgeted revenue?
- Is your decision-making on hold while the numbers for the budgets are being negotiated?
Creating a budget is one way to stay on top of your expenses. Most companies spend a lot of time analyzing past performance to come up with budgets for the next year, trying to stick to them as close as possible. However, due to todays rapid changing markets, traditional budgeting might not be the best fit for companies anymore.
Beyond Budgeting is the idea of abolishing traditional budgeting processes to eventually establish a highly decentralized organizational system and adaptive set of management processes. We are sitting around the camp fire with Bjarte Bogsnes, Chairman of the Beyond Budgeting Roundtable, and has helped numerous companies globally getting started on their own Beyond Budgeting journey.
Bjarte Bogsnes has a long international career, with more than 25 years of Beyond Budgeting experience, having worked in both Finance and HR.
He is a popular international business speaker and is the winner of a Harvard Business Review/McKinsey Management Innovation award.
He is author of "Implementing Beyond Budgeting - Unlocking the performance potential", a theoretical introduction and a practical guide to bringing such a more empowered and adaptive management model to life.
Beyond Budgeting Roundtable: https://bbrt.org/ - sign up for the newsletter!
Bjarte's website: https://bogsnesadvisory.com/
Bjarte on twitter: https://twitter.com/bbogsnes