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Product Description
Written by Bjarte Bogsnes, Beyond Budgeting pioneer, Implementing Beyond Budgeting reveals best practices from actual cases where the author headed up implementation of Beyond Budgeting in large global companies. Beginning with a Foreword by Robert Kaplan, cofounder of the Balanced Scorecard, this book reveals how your organization can maximize a performance climate with teams committed to a common purpose, shared rewards, and sustained value creation. This innovative book lucidly presents how every organization can release the ambition and energy of its people who were previously slaves to the budgeting process.
About the Author
Bjarte Bogsnes has a long international career in the oil business, both in finance and HR. As group controller for the petrochemicals company Borealis, he headed the abolishment of budgeting in this company in the mid-1990s and has been advocating the Beyond Budgeting principles ever since. He is now heading up StatoilHydro's Beyond Budgeting project. Bjarte is also Chairman of Beyond Budgeting Round Table Europe and is a popular business speaker internationally.
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Customer Reviews
Most Helpful Customer Reviews
1 of 1 people found the following review helpful
How to improve the performance/effectiveness of your company - quality guidance from an experienced manager
22 May 2009
Format:Hardcover
Many people are frustrated with the constraints of existing systems - budgeting, planning, performance management etc. In todays dynamic and unpredictable environment, systems that are inflexible and need high preparation costs in terms of time and money, are causing managers to seek alternatives.
This resulted in the formation of the beyond budgeting round table in 1997. It now has 100+ members. They have one thing in common:
'They realize that something is wrong with traditional management, and want to do something about it.' (Quote from page 54 of the book.)
A website can be found at www.bbrt.org.
The author stresses that beyond budgeting is less of a recipe and more of a set of guiding principles these are to be found on page 55. These consist of both Leadership and Process principles. The important point is that the two set of principles support each other in a holistic way. Process drives behaviour and vice versa. the use of the principles and solutions may vary from company to company.
This book ia written by an experienced manager with a background in both Finanace and HR. The company that he works for is Statoil, a major European oil and gas company. This company experience forms the major part of the book. Providing through the case study many useful tips and insights.
The authors honesty about what has been achieved and commitment shows through and is one of the strengths of the book. In places the presentation/desciptions could be better, but this is a minor irritation.
One of the areas that is worth mentioning is in the statoil case, this deals with the need to find the right balance between:
* Alignment - from strategy to people, from center to the front line.
* Freedom and flexibility for local teams, to sense and respond in their own dynamic environment.
The book makes some good points about effective implementation. One issue that he picks up on is the need for integrated performance management:
'Ask a finance person for a definition of performance management. I will guarantee the answer will include words like 'strategies' 'business plans' 'reporting' and the like. An HR person will repond very differently, discussing individual goals, development plans, coaching and feedback, motivation and rewards. They are both right, but they only see their own part of the process. All they list is about performance management, and has to connect, from strategy to people. If you are based outside Finance and HR, as most people are, you do not care who is responsible for what. You simply want things to hang together, to be consistant and reflect the same mananagement and leadership principles.'
The author makes numerous comments, about the need for HR and Finance to work together, both have a lot to gain cooperating to be effective Business Partners to the organization.
Stan Felstead - Interchange resources UK.
This resulted in the formation of the beyond budgeting round table in 1997. It now has 100+ members. They have one thing in common:
'They realize that something is wrong with traditional management, and want to do something about it.' (Quote from page 54 of the book.)
A website can be found at www.bbrt.org.
The author stresses that beyond budgeting is less of a recipe and more of a set of guiding principles these are to be found on page 55. These consist of both Leadership and Process principles. The important point is that the two set of principles support each other in a holistic way. Process drives behaviour and vice versa. the use of the principles and solutions may vary from company to company.
This book ia written by an experienced manager with a background in both Finanace and HR. The company that he works for is Statoil, a major European oil and gas company. This company experience forms the major part of the book. Providing through the case study many useful tips and insights.
The authors honesty about what has been achieved and commitment shows through and is one of the strengths of the book. In places the presentation/desciptions could be better, but this is a minor irritation.
One of the areas that is worth mentioning is in the statoil case, this deals with the need to find the right balance between:
* Alignment - from strategy to people, from center to the front line.
* Freedom and flexibility for local teams, to sense and respond in their own dynamic environment.
The book makes some good points about effective implementation. One issue that he picks up on is the need for integrated performance management:
'Ask a finance person for a definition of performance management. I will guarantee the answer will include words like 'strategies' 'business plans' 'reporting' and the like. An HR person will repond very differently, discussing individual goals, development plans, coaching and feedback, motivation and rewards. They are both right, but they only see their own part of the process. All they list is about performance management, and has to connect, from strategy to people. If you are based outside Finance and HR, as most people are, you do not care who is responsible for what. You simply want things to hang together, to be consistant and reflect the same mananagement and leadership principles.'
The author makes numerous comments, about the need for HR and Finance to work together, both have a lot to gain cooperating to be effective Business Partners to the organization.
Stan Felstead - Interchange resources UK.
Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com:
2 reviews
9 of 9 people found the following review helpful
Excellent book from the most experiences expert in Beyond Budgeting
6 Feb 2009
Format:Hardcover
I'm really happy to see that Bjarte Bogsnes has found the time to share his experiences with all of us interesting in innovative uses of management control systems. Bjarte has been in charge of implementing Beyond Budgeting (BB) in both Borealis and Statoilhydro - and he is probably the one with the most comprehesive experiences of bringing the Beyond Budgeting pricinples to work.
Actually the book is about totally abandoning budgets. That's the key principle in BB. But it's mandatory reading for anyone working with improving or reforming budgeting models. It may sounds like an impossible mission to give up budgeting. But it all depends on what you put instead. So, if you don't think you can live without a budget you need to realise how a combinaton of balanced scorecard, activity based costing, forecasting, benchmarking etc. can be designed to be an alternative to budgeting.
Even though you don't give up budgeting, it can still be improved. And "Implementing Beyond Budgeting" has lots of ideas here.
Actually the book is about totally abandoning budgets. That's the key principle in BB. But it's mandatory reading for anyone working with improving or reforming budgeting models. It may sounds like an impossible mission to give up budgeting. But it all depends on what you put instead. So, if you don't think you can live without a budget you need to realise how a combinaton of balanced scorecard, activity based costing, forecasting, benchmarking etc. can be designed to be an alternative to budgeting.
Even though you don't give up budgeting, it can still be improved. And "Implementing Beyond Budgeting" has lots of ideas here.
Implementing Beyond Budgeting: Unlocking the Performance Potential
12 Mar 2012
Format:Kindle Edition|Amazon Verified Purchase
It is an interesting book that describes the different experiencies, challenges, recommendations, success and failures through this new approach.
I strongly recommend this book for the managers and organizations who wants to improve the efficiency in their organizations and take advantage of the potential of their staff by empowering them even more.
This document should be accompanied with the reading of other books such as KPIs and forecasting to better understand how to apply some recommendations given through the book.Implementing Beyond Budgeting: Unlocking the Performance Potential
I strongly recommend this book for the managers and organizations who wants to improve the efficiency in their organizations and take advantage of the potential of their staff by empowering them even more.
This document should be accompanied with the reading of other books such as KPIs and forecasting to better understand how to apply some recommendations given through the book.Implementing Beyond Budgeting: Unlocking the Performance Potential
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