Implementing Beyond Budgeting

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.

Chapter One. The Problems with Traditional Management. Introduction. Which Way in a New Business Environment? The Trust Problem. The Cost Management Problem. The Target Setting and Evaluation Problem. The Bonus Problem. The Rhythm Problem. The Quality Problem. The Efficiency Problem. Chapter Two. Beyond Budgeting. The Beyond Budgeting Roundtable. The Beyond Budgeting concept. The Handelsbanken case. Chapter Three. The Borealis Case. Introduction. The Creation of Borealis. The Journey Begins. The Borealis Model. Implementation Experiences and Lessons Learned. Borealis Today. Chapter Four. The Statoil Case. Introduction. Creating the Foundation. Starting Out. The Statoil Model. The Scorecard Pitfalls. Joint Venture Budgets. What is Next? How Are We Doing? Chapter Five. Making the Change - Implementation Advice. Creating the Case for Change. Handling Resistance. Design to "80%" and Jump. Involve HR. A Pull-based and Company-owned Implementation. One War but a Thousand Battles. Don't Become a Fundamentalist. Closing Remarks.