21 March 2014
European BBRT-Members’ Meeting
During the two last days, BBRT Members gathered in Brussels for the bi-annual European BBRT Meetings. On Wednesday, we held the Implementers’ Meeting which this time focused on Business Forecasting. Yesterday’s BBRT Meeting featured very interesting presentations from New Zealand-based Mainfreight and the north European diary giant Arla. Bjarte Bogsnes presented his views on individual bonuses and last but not least: the members’ meeting included a review of a very interesting research from the Norwegian bank sector. The study shows a strong negative correlation between long-term financial results and the use of traditional budgets. Meeting presentations and the research study are available for download by BBRT Members from the private BBRT Members' Community website.
19 March 2014
Beyond Budgeting Conference in Brussels
On 19 March we held an open Beyond Budgeting conference in Brussels together with CFO Magazine. Anders Olesen from Beyond Budgeting Institute introduced the audience to Beyond Budgeting, our network and ideas. Hereafter, two longstanding BBRT-Members Statoil and A.P. Moller – Maersk presented how they have benefited from adopting the Beyond Budgeting principles in their management models. In connection with this conference, the February version of CFO Magazine featured an interview with Beyond Budgeting Institute which can be read HERE
14 February 2014
Beyond Empowerment - New TED video with Doug Kirkpatrick on Beyond Empowerment
Doug Kirkpatrick, author of Beyond Empowerment: The Age of the Self-Managed Organization, spoke about Beyond Empowerment and his experiences at Morning Star at the BBRT Members meeting in Oslo in March 2013 and at the BBRT North America Conference in June 2013. TED has recently released a fantastic video on YouTube in which Doug gives a succinct and powerful explanation of Beyond Empowerment. To see the video go to http://www.youtube.com/watch?v=Ej4n3w4kMa4
Swedish challenger steps into the breach on high street
A recent report in the The Times newspaper (UK) states that "even as many high street banks are working out to slim down or shut branches, Handelsbanken, a small Swedish lender has been opening outlets nationwide". It notes that customer deposits are up from £3.1 billion at the end of 2012 to £5 billion. Operating profits in the UK have risen from £236 million on revenues of £650 million to profits of £366 million on revenues of £847 million. To read the full article click HERE
Interesting to note that Barclays Bank is increasing senior level bonuses are the same time as profits are going down. They say that they have to pay the right package to attract the right people. If they are they are the right people, how come profits are going down?
Other UK banks now state that they are aiming to focus on customer service (whilst closing branches), particularly the new boss of RBS. But will they adopt the Handelsbanken model and stop incentivizing sales of products? Probably not. Meanwhile Handelsbanken keeps growing in the UK with now 169 branches. BBRT has been studying Handelsbanken since 1997 and it’s one of our star cases. Join the BBRT to find out more about the way Handelsbanken is managed and operated.
5 February 2104
GlaxoSmithKline (GSK) drops individual sales targets
Another company has seen the error of its ways and has been forced to drop individual sales targets. GlaxoSmithKline (GSK) is to scrap individual sales targets for its commercial staff.
A recent post on the Drucker Society Europe blog by Alan Brown, Julian Birkinshaw, Steve Denning, Tom Roy, Vlatka Hlupic and Franz Röösli (BBRT Core Team member) explores this basic question. The blog starts with the question: "Why do decentralized, seemingly disorganized market economies routinely outperform centrally planned, tightly controlled economies?"
In this blog the authors examine the role of business and why short-term shareholder value thinking is still embedded in the core curricula of MBA courses. They go on to look at the constraints to change in business schools and make recommendations as to how business schools can adapt to be fully supportive business leaders in transforming organizations from linear, efficiency-driven, shareholder-value-maximizing machines into complex organs of society.
Click HERE To read the blog.
- Dag Larsson, Ekan has joined the Beyond Budgeting Institute’s Core Team
- New Beyond Budgeting Partners:
- Ekan has become our Beyond Budgeting Partner in Sweden
- Bjarte Bogsnes, BBRT Chairman, has become our Beyond Budgeting Partner in Norway
- Want to receive our newsletter? Please send a mail to email@example.com
Beyond Budgeting Related Events
- 5-8 May 2014: Modern Management Methods, Lean Kanban North America 2014, San Francisco, USA. Please note the 15% discount to the BBRT network by using this code: LKNABB15 for registration at: http://lkna.leankanban.com/register For more information, see this link: https://www.dropbox.com/s/7s9rm2radrmtl5z/LKNA14-Flyer-Print-.25inchfullbleed.pdf
- 8-9 May 2014: Financial Directors’ Forum, Warsaw, Poland
- 27 May 2014: Workshop for Corporate BBRT Members in Denmark
- 30 May 2014: Modern Management Methods, Lean Kanban Southern Europe, Bologna, Italy
- 18-19 June 2014: 13th Annual Beyond Budgeting North America Conference, Chicago,Ill, USA
- 25-27 June 2014: PMA Conference, Aarhus University, Denmark
- 4-5 September 2014: Agile on the Beach, Penryn, Falmouth, Cornwall, UK,
- 22-23 October 2014: BBRT Members' Meetings, London, England
Bjarte Bogsnes, Statoil and BBRT Chairman is speaking about Beyond Budgeting at several conference over the coming months. For details see the calendar on our Events page
A range of BBRT briefing papers and White Papers are now publicly available from BBRT Online Knowledge. The White Papers and some of the Briefing Papers are free downloads and the remainder can be downloaded on payment of a small fee.