Shownotes Transcript
Bjarte Bogsnes has worked with companies, from IKEA, H&M,Pernod Ricard, Volvo and Equinor (Scandinavia’s largest company). His approach, “Beyond Budgeting” involves wholesale rethinking about budget approaches. In today’s episode, Bogsnes rails against the “misery” and “borderline unethical behavior” in traditional budgeting within companies, as he talks about the seachange happening in businesses. He talks to Paul Barnhurst as he publishes his new book, This Is Beyond Budgeting: A Guide to More Adaptive and Human Organizations (2023).
The episode covers
Definition of beyond budgeting as an antidote to “serious problems with traditional management”
How traditional budgeting gets “trust” and “predictability” wrong
Your answer to “Why are you budgeting?” shows the problems inherent in existing process
How budget process are “borderline unethical”
Equinor (Scandinavia’s case study) change
Making organizations more adaptive and human in the process of transformation
Don’t start with rolling forecasting
How a Vinyl collection of 3,5000 is a unique musical passion
How Beyond Budget “will happen” in the next decade
Links
Bognes Advisory bogsnesadvisory.com)
FT (case study of Ikea): CEOs forced to ditch decades of forecasting habits)
Bjarte Bogsnes: This Is Beyond Budgeting: A Guide to More Adaptive and Human Organizations)
Follow Bjarte Bogsnes on LinkedIn)
YouTube video of the episode)
Follow Paul Barnhurst on LinkedIn)
Follow Datarails on LinkedIn)
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