This important book describes the serious and systemic problems with traditional management practices, and provides concrete alternatives and practical guidance on how to implement the beyond budgeting methodology, drawing on actual cases in which the author has implemented beyond budgeting in large, global companies. It describes the need for an integrated performance management process across Strategy, Finance and Human Resources, and presents the many benefits that can be realized by embarking on a beyond budgeting journey.
Implementing Beyond Budgeting
Unlocking the Performance Potential
Welcome to the Beyond Budgeting revolution! A philosophy concerned more with leadership than with actual budgeting, Beyond Budgeting is about releasing capable people from the chains of the top-down performance contract and enabling them to use the knowledge resources of the organization to consistently beat the competition. With intellectual assets accounting for 80 to 90% of shareholder value today, people really are every organization's most valuable asset: Implementing Beyond Budgeting: Unlocking the Performance Potential shows you how to build and maximize a performance climate with teams committed to a common purpose, clear values, and shared rewards.
Written by Bjarte Bogsnes, Beyond Budgeting pioneer and Senior Advisor at StatoilHydro-an integrated oil and gas company with annual total revenues of $100 billion (U.S.)-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 to:
* Get upper management to understand the serious and systemic problems with traditional management practices, and how the Beyond Budgeting philosophy offers a credible and rewarding alternative
* Implement a Beyond Budgeting philosophy throughout your organization, aligning goals and strategy to the processes that actually impact performance
* Liberate your organization from dictatorship, micromanagement, number-worshipping, calendar periods, hierarchies, secrecy, sticks and carrots, and every other myth about effective performance management
* Motivate your people and organization to perform and excel to their maximum potential
* Overcome challenges to make implementation succeed
Destined to become a classic that will change the way business is done, Implementing Beyond Budgeting: Unlocking the Performance Potential will inspire both managers and employees.