Breaking Bad: Getting to Beyond Budgeting
Paul Barnhurst
Helping FP&A Professionals provide value to their businesses | Founder of The FP&A Guy | Host of 3 popular Finance podcasts | Microsoft MVP
Bjarte Bogsnes has worked with companies, from IKEA, H&M,Pernod Ricard, Volvo and Equinor (Scandinavia’s largest company). 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).
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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
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ACMA, CGMA, CSCA | Chartered Global Management Accountant | Strategic Finance Business Partner
1 年I came to the realisation that the change of mindset is hardly ever brought from within big companies and it requires an outsider. To introduce something that will be perceived as disruptive requires courage as the whole idea of renouncing to the "budget" or de-emphasizing its role as a management tool, in the vast majority of cases, will be met with fear and, in my experience, with "hostility" so endangering your reputation in the organisation. Similarly to a system dynamic, when something is introduced that creates such a big shock to the system, the system itself will immediately seek to expel the perturbation and return to balance. The adage "it is better the devil you know" is somewhat true but it is also true that there can be vested interests to preserve the budget and its gaming/politics where certain management thrive. I want to thank you for fostering these very topics: to bring about the necessary change we need more knowledge-sharing and a sense of community.
CEO I Carter & Company International Business Advisory Firm
1 年??
Realtor Associate @ Next Trend Realty LLC | HAR REALTOR, IRS Tax Preparer
1 年Well said.