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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