Bjarte Bogsnes, Vice President of Performance Management Development at Statoil presenting the Business Keynote at Agile on the Beach 2014
Business Keynote : Bjarte Bogsnes : Beyond Budgeting – an agile management model for new business and people realities
Beyond Budgeting – an agile management model for new business and people realities
Bogsnes’s said: “Beyond Budgeting is about creating the agile enterprise. This is scaling agile in practice, using a language that executives understand and addressing their key concerns.
“It is also about rethinking how we manage organisations in a post-industrial world where innovative management models represent the only sustainable competitive advantage, and releasing people from the burdens of stifling bureaucracy and suffocating control systems, trusting them with information and giving them time to think, reflect, share, learn and improve.
“Above all it is about learning from the many leaders who have built and managed ‘beyond budgeting’ organisations and this is why I’m delighted to be coming together with like-minded pacesetters at Agile on the Beach.”
- The Statoil implementation journey
- 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
He is currently heading up the Beyond Budgeting implementation at Statoil, Scandinavia’s largest company with operations in 33 countries and a turnover of 130 bn USD.
On Fortune 500, the company was recently ranked #1 on Social responsibility and #7 on Innovation.
Transparency International has named Statoil the most transparent listed company globally.
Bjarte is Chairman of Beyond Budgeting Round Table Europe (BBRT), and is a popular international business speaker and winner of a Harvard Business Review/McKinsey Management Innovation award.
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.